At Riviera’s Annual Offshore Support Journal Conference, in London, UK, on February 4, 2026, Gerry Ventouris, Chief Commercial Officer of Capital Offshore, said the company will begin receiving a batch of new platform supply vessels (PSVs) in the second quarter of 2026.
This Greek family business has announced an order for 12 PSVs, with deliveries expected to begin in May 2026 and continue into 2027. These vessels, built by China’s Mawei Shipbuilding, will utilize the latest propulsion technology for efficient operation. The first batch of vessels will be transferred from China to the North Sea market, initially with Aberdeen, Scotland as their home port.
Earlier, in June 2024, Fujian Shipbuilding announced that its subsidiary, Mawei Shipbuilding, signed an order with Greek shipowner Capital Offshore for 4+2+2 PSVs. In October 2024, Kongsberg Marine announced on its official website that it had secured a major contract from Mawei Shipbuilding to provide equipment packages for 10 new PSVs for Capital Offshore. This meant that Mawei Shipbuilding had received an order for 10 PSVs from Capital Offshore. According to the latest announcement from Gerry Ventouris, the order for this type of PSV has now reached 12 vessels.
This type of PSV has an overall length of 94.76 meters, a beam of 19.00 meters, a depth of 8.00 meters, and a structural draft of 6.5 meters. It is mainly used for the transfer of industrial personnel and materials on offshore drilling platforms. This type of PSV is classed by classification society LR and meets the requirements for classification notations such as DP (AA) and ECO.
All new vessels will be equipped with fully integrated electrical, propulsion, and energy control systems to ensure seamless collaboration among all components, thereby optimizing performance and safety. Furthermore, each vessel will be equipped with an Energy Storage System (ESS), and each propulsion system will include two US 255 azimuth thrusters, one ULE PM 155 retractable azimuth thruster, and two TT2200 thrusters, all powered by permanent magnet motors.
It is understood that Capital Offshore operates a fleet of more than 100 vessels, and the signing of these 10 new vessels marks a significant investment by Capital in the PSV market.
When these new-build PSVs ordered, strong market demand, high PSV utilization rates, and high charter rates led them to expect a 10-year payback period. However, depending on market activity and fluctuations in spot and long-term charter rates, the payback period may be shorter than anticipated. Furthermore, Gerry Ventouris hinted that the company might consider ordering new platform supply vessels (PSVs) if shipyard capacity increases and prices fall.