Seatrium receives termination notice for $610m WTIV project

The project was valued at $610m

Seatrium Energy International Pte Ltd (SEI) received a notice of termination for its construction of a $610m wind turbine installation vessel (WTIV) for Maersk.

The project, located at the Empire Wind 1 offshore wind farm in New Jersey, USA,  is approximately 98.9% completed, SEI said in a bourse filing.

SEI said that it will explore viable solutions with Empire Offshore Wind LLC.

“SEI is currently reviewing the validity of the notice of termination, as well as the allegations 
set out therein,” SEI said.

The firm also said that it is evaluating its legal and commercial options in respect of the 
contract and its right to contest the termination notice.