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Seatrium Limited ( (SG:5E2) ) has provided an announcement.
Seatrium Limited has initiated arbitration proceedings 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 asserting that the buyer breached the contract. Seatrium is pursuing legal action to resolve the dispute, indicating significant implications for its operations and stakeholder relationships in the offshore wind sector.
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. Its primary products include vessels and other maritime installations, with a market focus on offshore wind projects.
Average Trading Volume: 11,266,904
Technical Sentiment Signal: Sell
Current Market Cap: S$7.3B
Find detailed analytics on 5E2 stock on TipRanks’ Stock Analysis page.