The wind turbine installation vessel that triggered arbitration for Maersk Offshore Wind (MOW) has been successfully delivered.
On February 27, Singapore-based offshore shipbuilder Seatrium announced on its official website that its new generation of wind turbine installation vessel (WTIV) built by its shipyard was successfully delivered to customer Maersk Offshore Wind Power on February 26, 2026. This milestone follows the successful completion of sea trial activities and final readiness evaluations at the Group’s flagship Tuas Boulevard Yard.
Custom-engineered and built by Seatrium to install some of the world’s largest offshore wind turbines, this first-of-its-kind WTIV sets a new benchmark for global offshore wind installation capability. The milestone marks the completion of an extensive construction programme involving the installation of a 1,900-tonne main crane, precision heavy-lift operations, full system integration, and rigorous validation by leading international classification societies. With a 180-metre hook height, the crane supports the installation of 15+MW-class turbines.
The vessel’s feeder-based installation design enhances operational efficiency, enabled by a stabilising system to hold feeder vessels for the transfer of offshore wind components, even in high sea states. This improves installation efficiency by extending the operational weather window, ensuring the WTIV can carry out uninterrupted installations, improving operational efficiency and reducing total cost and time of installation. This feeder-based installation solution is US Jones Act compliant and can also be deployed in other geographies. The WTIV is due to sail in March 2026 for its first assignment at the Empire Wind project offshore New York, where it will play a pivotal role in advancing the wind farm’s mission to deliver clean and reliable energy to 500,000 homes¹.
Throughout the project, Seatrium upheld its steadfast commitment to safety, achieving zero Lost Time Injuries (LTIs) – a testament to the Group’s strong safety culture and disciplined project execution.
As Seatrium continues to expand its offshore wind portfolio – ranging from offshore substations and floating foundations to zero-emission vessels and specialised installation assets such as WTIVs – each achievement represents another step forward in supporting the industry’s rapid growth, solidifying Seatrium’s role as a key enabler of global net-zero ambitions and a trusted partner in driving the future of offshore wind.
It is worth noting that the construction process of the wind turbine installation vessel recently received by MOW was not smooth sailing. The shipowner and the shipyard even filed for arbitration against each other over the vessel. Fortunately, the two parties eventually reached a settlement.
In October 2025, MOW and its affiliate PHOENIX II A/S unilaterally terminated the WTIV construction contract with Seatrium Energy International (SEI), a subsidiary of Seatrium, and subsequently initiated arbitration. In response, SEI initiated arbitration against the shipowner in November 2025, with claims including declaring the WTIV construction contract valid and continuing, ordering the shipowner to perform its contractual obligations, and compensation.
The arbitration case triggered by the order cancellation lasted for more than two months. On December 22, 2025, the two parties reached a settlement: they agreed to withdraw and terminate all related legal proceedings (i.e., the Maersk arbitration case and the SEI arbitration case), and the main contract immediately became effective and had full legal force.
According to the settlement agreement, SEI will deliver WTIV by February 28, 2026, and the buyer shall complete the acceptance before that date; after the delivery of the new vessel, the buyer shall pay the remaining contract price under the main contract, amounting to US$360 million, the specific amount of which will be adjusted according to the contract.
Both parties also agreed that the buyer would pay part of the contract price (US$250 million) through an interest-bearing credit arrangement provided by Seatrium (SG) Pte (SGS), a wholly-owned subsidiary of Seatrium. This credit arrangement has a maximum term of 10 years and can be repaid through cash flow generated from the vessel’s operation. SGS will hold a mortgage on the vessel and have first-priority rights over the vessel and the buyer’s bank accounts.