Singapore-based offshore service provider Megamas Resources has signed a letter of intent with German yard Lloyd Werft Bremerhaven to begin advanced discussions for the potential construction of a new multi-purpose cable laying vessel with an option for a second unit.
Megamas said that the project, being done in partnership with Crewstone International Private Equity and Investments, addressed the global shortage of specialised offshore vessels and supports both the renewable energy and subsea telecommunications sectors.
Lloyd Werft Bremerhaven will work on the vessel alongside Ulstein Design and Solutions and ensure that the vessel complies with DNV’s Clean and Recyclable class notations. The delivery of the first vessel is expected by the end of 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.
