{"id":22247,"date":"2025-12-22T20:02:42","date_gmt":"2025-12-22T20:02:42","guid":{"rendered":"https:\/\/krogragg.com\/?p=22247"},"modified":"2025-12-22T20:02:42","modified_gmt":"2025-12-22T20:02:42","slug":"seatrium-and-maersk-offshore-wind-resolve-wtiv-delivery-dispute","status":"publish","type":"post","link":"https:\/\/krogragg.com\/?p=22247","title":{"rendered":"Seatrium and Maersk Offshore Wind resolve WTIV delivery dispute"},"content":{"rendered":"<p>    Seatrium and Maersk Offshore Wind resolve WTIV delivery dispute<br \/>\n \t<BR><br \/>\n<BR><\/BR><br \/>\n    <!-- no image --><br \/>\n \t<BR><br \/>\n<BR><\/BR><\/p>\n<div>\n<p>Singapore-headquartered Seatrium Limited reported today that its Seatrium Energy (International) Pte Ltd unit (SEI) and <a href=\"https:\/\/maerskoffshorewind.com\/about-us\/\">Maersk Offshore Wind<\/a> affiliate Phoenix II A\/S have resolved a dispute that began back in October when Maersk Offshore Wind <a href=\"https:\/\/www.marinelog.com\/offshore\/offshore-wind\/maersk-offshore-cancels-wtiv-contract-with-seatrium\/\">canceled the contract<\/a> for a Wind Turbine Installation Vessel (WTIV) ordered March 2022 for deployment at the Empire Wind 1 offshore wind farm.<\/p>\n<figure class=\"wp-block-embed alignleft is-type-wp-embed is-provider-marine-log wp-block-embed-marine-log\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"teadGxwaTj\"><p><a href=\"https:\/\/www.marinelog.com\/offshore\/offshore-wind\/maersk-offshore-cancels-wtiv-contract-with-seatrium\/\">Maersk Offshore cancels WTIV contract with Seatrium<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" title=\"\u201cMaersk Offshore cancels WTIV contract with Seatrium\u201d \u2014 Marine Log\" src=\"https:\/\/www.marinelog.com\/offshore\/offshore-wind\/maersk-offshore-cancels-wtiv-contract-with-seatrium\/embed\/#?secret=XUwTZEc3RH#?secret=teadGxwaTj\" data-secret=\"teadGxwaTj\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div>\n<\/figure>\n<p>Seatrium says that SEI and the buyer have reached an agreement for SEI to deliver the WTIV and for the buyer to take delivery of it by February 28, 2026. On delivery, the buyer will pay the $360 million balance of the contract price.<\/p>\n<p>The parties have mutually agreed for the buyer to pay $250 million of the contract using an interest-bearing credit arrangement extended by the Seatrium\u2019s wholly-owned subsidiary, Seatrium (SG) Pte. Ltd. (SGS). The credit arrangement is for up to 10 years and repayable through cash generated by the vessel. SGS will have a mortgage over the WTIV, as well as first priority rights over the Vessel and the buyer\u2019s bank accounts.<\/p>\n<p>\u201cIn light of the above, the parties will withdraw and discontinue all legal proceedings (i.e. Maersk\u2019s arbitration and SEI\u2019s arbitration), and the contract is in full force and effect,\u201d says Seatrium,, adding that \u201ccollaborative efforts were advanced by the willingness of all parties critical to the vessel\u2019s operability to be practical, find alignment, and work collectively towards the target of the delivery of the vessel.\u201d<\/p>\n<p>The post <a href=\"https:\/\/www.marinelog.com\/offshore\/offshore-wind\/seatrium-and-maersk-offshore-wind-resolve-wtiv-delivery-dispute\/\">Seatrium and Maersk Offshore Wind resolve WTIV delivery dispute<\/a> appeared first on <a href=\"https:\/\/www.marinelog.com\/\">Marine Log<\/a>.<\/p>\n<\/div>\n<p> \t<BR><br \/>\n <BR><\/BR><br \/>\n    Nick Blenkey<br \/>\n \t<BR><br \/>\n<BR><\/BR><br \/>\n<a href=\"https:\/\/www.marinelog.com\/offshore\/offshore-wind\/seatrium-and-maersk-offshore-wind-resolve-wtiv-delivery-dispute\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=seatrium-and-maersk-offshore-wind-resolve-wtiv-delivery-dispute\">Go to marinelog<\/a><br \/>\n \t<BR><br \/>\n <BR><\/BR><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seatrium and Maersk Offshore Wind resolve WTIV delivery dispute Singapore-headquartered Seatrium Limited reported today that its Seatrium Energy (International) Pte Ltd unit (SEI) and Maersk Offshore Wind affiliate Phoenix II A\/S have resolved a dispute that began back in October when Maersk Offshore Wind canceled the contract for a Wind Turbine Installation Vessel (WTIV) ordered [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1807,6747,192,199,54,58,238,1910],"tags":[193],"class_list":["post-22247","post","type-post","status-publish","format-standard","hentry","category-empire-wind-1","category-maersk-offshore-wind","category-marinelog","category-news","category-offshore","category-offshore-wind","category-seatrium","category-wtiv","tag-marinelog"],"_links":{"self":[{"href":"https:\/\/krogragg.com\/index.php?rest_route=\/wp\/v2\/posts\/22247"}],"collection":[{"href":"https:\/\/krogragg.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/krogragg.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/krogragg.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/krogragg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22247"}],"version-history":[{"count":0,"href":"https:\/\/krogragg.com\/index.php?rest_route=\/wp\/v2\/posts\/22247\/revisions"}],"wp:attachment":[{"href":"https:\/\/krogragg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/krogragg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/krogragg.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}