Seatrium has initiated arbitration against a Maersk Offshore Wind affiliate, intensifying a dispute over the termination of a contract for a wind turbine installation vessel (WTIV) for the Empire Wind 1 project in the U.S. This action follows a notice from the buyer on October 21, just after Seatrium announced the vessel’s readiness for delivery by January 30, 2026. The arbitration will take place in London under the London Maritime Arbitrators Association (LMAA) guidelines.
Earlier, Seatrium rejected the buyer’s termination notice from October 9 regarding the $475 million WTIV, claiming the buyer was in breach of contract. The company is exploring solutions, including direct delivery to the end customer, Empire Offshore Wind.
The buyer’s arbitration notice against Phoenix II A/S lacked specific details on claims or requested relief. In its filing on November 28, Seatrium seeks a declaration that the contract was wrongfully terminated, confirmation of its validity, an order for the buyer to accept delivery and pay the installment, and, alternatively, damages.
Under the contract, 80% of the price is due upon delivery. This agreement is a legacy pre-merger contract and the only one in Seatrium’s order book without progressive milestone payments. The financial implications of the arbitration will depend on its outcome, with updates to be provided as required.
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