Singapore-based offshore service provider Megamas Resources has signed a letter of intent with German shipyard Lloyd Werft Bremerhaven for the construction of one multi-purpose cable laying vessel with an option for a second unit.
Megamas Resources said the project, undertaken in partnership with Crewstone International Private Equity and Investments, aims to address the global shortage of specialized offshore vessels and support the renewable energy and subsea telecommunications industries.
Lloyd Werft Bremerhaven will work with Ulstein Design and Solutions to build the vessel and ensure that it complies with Det Norske Veritas’ clean and recyclable class notation. The first vessel is expected to be delivered in late 2027.
“This vessel will serve a vital purpose, the laying, repair, and maintenance of subsea cables both telecommunication cables, which carry the world’s data and keep us connected, and power cables, which deliver renewable energy from offshore sources to where it’s needed most,” said Tiew Sien Kheng of Megamas Resources.