This week in ESG: Cancelled job rocks Seatrium offshore wind business; Singapore adopts fixed-cost envelope approach to adopt sustainable aviation fuel
Renewable energy
Seatrium’s offshore headwinds
The unexpected termination of a US$475 million contract highlights Seatrium’s exposure to the offshore wind sector and the turbulence that lies ahead.
On Oct 10, Seatrium announced that Maersk Offshore Wind is terminating the contract for a Wind Turbine Installation Vessel (WTIV) intended for the Empire Wind I project in New York. Seatrium says it is evaluating its legal and commercial options.
