Maersk terminates $475 million contract for offshore wind vessel

Seatrium

10/10/2025 17:31

Oct 10 (Reuters) - Shipbuilder Seatrium SEAT.SI said Denmark's Maersk MAERSKb.CO terminated a $475 million contract for a nearly finished offshore wind vessel that was intended to work on a project off the coast of New York.

The wind turbine installation vessel is 98.9% complete and was built to serve Equinor's Empire Wind, Singapore-based Seatrium said in a statement on Friday.

A Maersk spokesperson confirmed the cancellation, citing construction delays.

Seatrium shares slid 6.5% on the Singapore stock exchange following the announcement.

The announcement is the latest sign of trouble in the U.S. offshore wind industry, which the administration of U.S. President Donald Trump has vowed to stop.

Empire Wind was embroiled in Trump's assault on offshore wind earlier this year when his administration issued a month-long stop work order on the project. Equinor, a Norwegian energy company, was not immediately available for comment.

"Maersk Offshore Wind can confirm that it has terminated its newbuilding contract with Seatrium Energy (International) Pte. Ltd. (formerly Sembcorp Marine Rigs & Floaters Pte. Ltd.) in Singapore for the construction of a Wind Installation Vessel due to delays and related construction issues," Maersk spokesperson Caroline Knox said in an email.

Seatrium said it was evaluating its options for the vessel, including with Empire Wind. It also said it could take legal action over the contract termination.

 (Reporting by Nichola Groom;Editing by Elaine Hardcastle)

 ((nichola.groom@thomsonreuters.com;))