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Maersk Offshore Wind canceled a $475 million contract with Seatrium for a nearly complete wind turbine vessel, sparking legal review and share drops.
Maersk Offshore Wind terminated a $475 million contract with Singapore’s Seatrium to build a wind turbine installation vessel for the U.S.
Empire Wind 1 project, despite the vessel being 98.9% complete.
Seatrium said it is reviewing the termination’s validity and considering legal action, while its shares dropped up to 7.8%.
The project, part of a larger offshore wind initiative, faces ongoing challenges due to shifting U.S. energy policies and economic pressures.
Seatrium reported a 301% profit increase in the first half of 2025, but the termination may affect its near-term outlook.
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Maersk Offshore Wind canceló un contrato de 475 millones de dólares con Seatrium para un barco de turbinas eólicas casi completo, lo que provocó una revisión legal y caídas en las acciones.