Singapore-based offshore contractor Seatrium has received a termination of the $475 million contract for the construction of a Wind Turbine Installation Vessel (WTIV) that was set for deployment at Equinor's Empire Wind 1 offshore wind farm in the United States.
The contract - secured by Sembcorp Marine Rigs & Floaters in 2022, which is now known as Seatrium Energy (International) - was for the construction of a WTIV for Maersk Offshore Wind through its affiliate.
Seatrium received the contract termination notice on October 9, 2025, according to the company, as the WTIV project was already 98.9% completed.
The Singaporean firm said it will now proceed with reviewing the validity of the notice of termination, as well as the allegations set out therein.
The company added it is also evaluating its legal and commercial options in respect of the contract, including the right to contest the notice of termination, and/or to commence legal proceedings to seek all available remedies for wrongful termination.
“The Company will make appropriate announcements in the event of any material developments. Shareholders are advised to exercise caution when dealing with the shares or other securities of the Group,” Seatrium said.