Delivery Finally Arrives After the Order-Cancellation Controversy! Maersk’s First Wind Turbine Installation Vessel Set to Depart Soon.

After weathering a storm of order cancellations, Seatrium, Singapore’s offshore engineering giant, has finally successfully delivered the first wind turbine installation vessel (WTIV) built for Denmark’s Maersk.

Recently, Haiting announced that the WTIV has been officially delivered to Maersk Offshore Wind after completing sea trials and undergoing final readiness assessments at the Tuas Boulevard shipyard in Singapore. This custom-designed vessel is capable of installing offshore wind turbines with a capacity of 15 MW or higher and is equipped with a 1,900-tonne main crane, with a maximum hook height reaching 180 meters.

This is the first key vessel in Maersk Offshore Wind’s journey toward building a “future-ready fleet.” For Hitec, the successful delivery of its first WTIV also serves as an important “calling card,” marking its expansion of its long-accumulated offshore vessel construction expertise into the offshore wind energy sector.

This WTIV adopts a feeder-based installation approach: the main vessel remains stationed at the operation site, while smaller vessels shuttle back and forth to transport components. Maersk has partnered with U.S. shipowner Edison Chouest Offshore, which will provide the supply barges and tugboats. The vessel is equipped with a stabilization system that can securely hold the supply vessel in place during component transfer operations, even under challenging sea conditions. The components of the supply system are manufactured in the United States, ensuring that the overall solution complies with the U.S. Jones Act requirements while also allowing the main vessel to be built overseas.

This unique supply system can lock barges securely onto the mother vessel. Maersk emphasizes that this design enables “absolutely stable, fixed-to-fixed transfer operations,” allowing for fueling of WTIVs even under rougher sea conditions—thereby extending the operational window and reducing installation costs and cycle times. Moreover, the supply system permits the use of smaller, shallower-water staging ports and allows access to ports located behind bridges, locks, or hurricane barriers.

The vessel is scheduled to set sail in March 2026 to carry out its first mission—the Empire Wind project off the coast of New York—providing support for the installation of wind turbines that will generate enough electricity to power 500,000 households.

It is understood that the construction contract for this WTIV was signed by Sembcorp Marine in March 2022, at a time when Sembcorp Marine had not yet merged with Keppel Offshore & Marine to form Keppel Offshore & Marine Holdings. However, in early October last year, due to pressure on the U.S. offshore wind market and an uncertain outlook, Maersk suddenly announced the cancellation of the construction contract and sent Keppel Offshore & Marine Holdings a notice of contract termination. At the time, Keppel Offshore & Marine Holdings emphasized that shipbuilding work had already been completed to the extent of 98.9%.

Ultimately, Haiting and Maersk reached a settlement on December 22 last year, agreeing that the newly built WTIV would be delivered on or before February 28, 2026. Upon delivery of the vessel, the shipowner will pay the remaining balance of the contract price—US$360 million (approximately RMB 2.535 billion)—with the amount adjusted in accordance with the terms of the contract.

Under the agreement, the shipowner will pay a portion of the contract price—US$250 million (approximately RMB 1.76 billion)—through an interest-bearing credit facility provided by Seatrium (SG) Pte. Ltd. (SGS), a wholly-owned subsidiary of Hai Ting. The credit facility has a maximum term of up to 10 years and will be repaid using cash flows generated from the operation of the vessel. SGS will obtain a mortgage on the vessel and will enjoy first-priority rights over both the vessel and the buyer’s bank accounts.