Singapore-based Megamas Resources has signed a Letter of Intent (LOI) with Lloyd Werft Bremerhaven GmbH to begin advanced discussions for the potential construction of a multi-purpose cable laying vessel, with an option for a second unit, according to the company's release.
The project, in partnership with Crewstone International Private Equity & Investments, aims to address the global shortage of specialized offshore vessels and support the renewable energy and subsea telecommunications sectors.
The vessel design will be developed in collaboration with Ulstein Design and Solutions.
The vessel will comply with DNV’s Clean (Design) and Recyclable class notations.
Megamas Resources targets delivery of the first vessel by the end of 2027.
Megamas Resources is a Singapore-based company focused on offshore marine services, particularly in the submarine cable industry. It specializes in the laying and maintenance of subsea fiber-optic telecommunication and power cables, including those for offshore wind farms. In partnership with Renaissance Technologies, Megamas has previously contracted Ulstein Design & Solutions for the conceptual design of cable laying and repair vessels, with plans to introduce two newbuilds by 2026 to address the global shortage of such vessels.
Lloyd Werft Bremerhaven GmbH is a German shipyard based in Bremerhaven. Certified to DNV GL ISO 18001 standards, Lloyd Werft has experience in complex projects, such as the conversion of offshore support vessels and docking of passenger ships.