On September 19, Belgian DEME Group announced an order for a new Offshore Construction Vessel (OCV), which will be built by Zhoushan Pacific Ocean Engineering Co., Ltd., a subsidiary of Singapore’s PaxOcean.
This new vessel features capabilities for trench excavation, pipeline burial, and subsea cable laying. It is designed with a methanol-ready propulsion system, preparing it for future use of green fuels. The vessel is scheduled for delivery in 2028 and will synergize with DEME’s two existing cable-laying vessels, the “Living Stone” and the “Viking Neptun”.
Based on the Norwegian SALT 310 design, the vessel has a total length of 123 meters. It is equipped with a DP2 dynamic positioning system, a 150-ton active heave-compensated offshore crane, a hangar capable of accommodating two work-class Remotely Operated Vehicles (ROVs), a 1000 kWh hybrid battery system, and a methanol-ready propulsion design for future fuel flexibility. It can accommodate up to 123 people and is configured with two 2500-ton cable carousels.
DEME did not disclose the contract value, only stating that the project amount is between 50 million and 150 million euros (approximately RMB 420 million to 1.259 billion).
Hugo Bouvy, Managing Director of DEME Offshore Energy, stated: “With experience accumulated from laying over 5,000 kilometers of subsea cables for wind farms in Europe and the US, DEME continues to provide customers with efficient and reliable offshore project solutions. Building on this experience, the addition of this new vessel will further enhance DEME’s cable-laying capabilities and expand its multi-functional fleet and solutions.”
It is understood that the DEME Group is a global leading contractor in the fields of ocean energy, environmental remediation, dredging, and maritime infrastructure. The company’s business also covers concession projects such as offshore wind power, marine infrastructure, green hydrogen, and deep-sea mineral extraction. With nearly 150 years of industry experience, DEME has always been a pioneer in technological innovation, committed to addressing global challenges such as climate change, population growth and urbanization, expansion of maritime trade, and environmental issues through integrated solutions. The group employs over 5,800 highly skilled professionals and operates one of the world’s most advanced engineering fleets, possessing the core capability to undertake highly complex projects. In the 2024 fiscal year, DEME achieved a revenue of 4.1 billion euros and an EBITDA of 764 million euros.
PaxOcean is a shipyard established by the multinational conglomerate Kuok Group to expand its ship repair and construction business. It owns and operates five shipyards in Singapore, China, and Indonesia, and also operates a Maintenance, Repair, and Overhaul (MRO) facility in Saudi Arabia. Founded in 2007, PaxOcean now offers diversified services including integrated solutions for newbuilding, ship repair, vessel conversion and refurbishment, module manufacturing, green recycling, and traditional and renewable energy.
PaxOcean’s Chinese shipyard, Zhoushan Pacific Ocean Engineering Co., Ltd., commenced operations in 2010. It possesses two ultra-large docks with a quay length of 576 meters and a water depth of 12 meters, equipped with a 900-ton crane. The docks can accommodate various vessel types including ULCCs, VLOCs, Suezmax tankers, and FPSOs with a maximum deadweight tonnage of up to 400,000 tons, as well as ultra-large container ships of up to 16,000 TEU.
It is worth mentioning that earlier this year, PaxOcean also signed a contract with a well-known European shipowner for 2+2 OCVs, with the new vessels expected to be delivered in 2027. The PaxOcean Group did not disclose specific information about the shipowner, but shipbrokers revealed that the order came from Seatankers, a subsidiary of Norwegian shipping magnate John Fredriksen.
According to data from Clarksons, Zhoushan Pacific Ocean Engineering currently holds a total orderbook of 21 vessels amounting to 358,400 deadweight tons. This includes 8 multi-purpose vessels, 2 product tankers, 2 multi-purpose work vessels, 1 cable-laying vessel, and 8 Platform Supply Vessels (PSVs), with deliveries scheduled through 2028.
