Vessel in Seatrium-Maersk settlement hit by Trump’s stop-work order on wind farms
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Seatrium is monitoring a stop-work order from the Trump administration affecting the Empire Wind 1 project due to national security concerns. Despite this, Seatrium and Maersk affiliate Phoenix II have reached a settlement for a wind turbine installation vessel, with payments structured over time. The vessel can be redeployed beyond the US market, mitigating risks. Citi analyst suggests the news presents a buying opportunity for Seatrium shares, which remained stable at S$2.13. The stop-work order impacts numerous stakeholders involved in the project.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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