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The latest announcement is out from Seatrium Limited ( (SG:5E2) ).
Seatrium Limited has initiated arbitration against Phoenix II A/S, an affiliate of Maersk, following a contractual dispute over the construction of a Wind Turbine Installation Vessel intended for the Empire Wind 1 offshore project. The dispute arose after Maersk’s affiliate issued a notice of termination, which Seatrium rejected, claiming wrongful termination and breach of contract. Seatrium has taken legal steps to resolve the matter through arbitration in London, asserting that the buyer has shown an intention to abandon the contract.
The most recent analyst rating on (SG:5E2) stock is a Buy with a S$2.96 price target. To see the full list of analyst forecasts on Seatrium Limited stock, see the SG:5E2 Stock Forecast page.
More about Seatrium Limited
Seatrium Limited is a company involved in the engineering and construction industry, focusing on the development of marine and offshore structures. The company provides services related to the construction of vessels, including Wind Turbine Installation Vessels, catering to the offshore wind energy sector.
Average Trading Volume: 11,266,904
Technical Sentiment Signal: Sell
Current Market Cap: S$7.3B
See more data about 5E2 stock on TipRanks’ Stock Analysis page.