Seatrium, Maersk reach $360 mn settlement over offshore wind vessel dispute
The US$475 million contract was the subject of a legal conflict that began in October 2025.
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Singapore-based shipbuilder Seatrium announced on December 22 that it has reached a settlement with Maersk Offshore Wind regarding the delivery of a specialised wind turbine installation vessel. The US$475 million contract was the subject of a legal conflict that began in October 2025. This high-stakes standoff was resolved by the agreement, which followed Maersk's attempt to cancel the contract due to construction delays.
Under the new terms, Maersk’s affiliate, Phoenix II, will pay the remaining contract balance of US465 million upon the vessel's delivery, which is now scheduled for February 28, 2026.
Highlighting the advanced stage of the build, Seatrium confirmed the project was 99.8% complete at the time of the announcement. To facilitate the deal, Seatrium’s subsidiary, Seatrium (SG), has extended a 10-year interest-bearing credit facility of US$250 million to the buyer, repayable through the vessel’s future operational cash flows.
While the vessel is destined for the Empire Wind project off the coast of New York, the deal carries notable implications for India’s maritime landscape. The resolution coincides with a period of aggressive expansion for both companies in the Indian subcontinent.
In September 2025, Seatrium signed a Memorandum of Understanding (MoU) with Cochin Shipyard (CSL), India’s largest shipbuilder, to collaborate on offshore engineering and maintenance projects. This partnership is designed to leverage Seatrium’s technical expertise alongside CSL’s infrastructure to support India’s domestic energy transition.
Simultaneously, Maersk has been deepening its Make in India commitments. During India Maritime Week 2025, the company announced the reflagging of vessels under the Indian Register and a proposed $2 billion investment by its subsidiary, APM Terminals, to expand the Pipavav Port in Gujarat.
For India’s offshore wind sector, which is targeting 30GW of capacity by 2030, the Seatrium-Maersk settlement provides a case study in contract resilience. As Indian firms look to partner with global companies for specialised vessels and offshore infrastructure, the successful mediation of this nearly half-billion-dollar dispute offers a roadmap for managing complex maritime arbitrations without derailing long-term energy goals.
