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| Image source: Maersk Supply Service |
Norwegian investment bank DNB Carnegie has suggested that Maersk Offshore Wind may eventually withdraw from the offshore wind turbine installation market following its recent decision to terminate a major newbuild vessel order with Singapore’s Seatrium.
The cancelled order concerned a Wind Turbine Installation Vessel (WTIV) originally commissioned for use in the Empire Wind project, jointly developed by Equinor and BP off the U.S. East Coast. The vessel, valued at approximately US$475 million, was reportedly 99% complete when the contract was terminated earlier this month.