Megamas Resources agrees LOI with Lloyd Werft Bremerhaven

The company signed the LOI with Lloyd Werft Bremerhaven to begin ‘advanced discussions’ for the construction of a multi-purpose cable-laying vessel and an option for a second unit.

“In partnership with Crewstone International Private Equity & Investments, the project addresses the global shortage of specialised vessels and supports the renewable energy and subsea telecommunications sectors,” said Megamas Resources.

“The project brings together Lloyd Werft Bremerhaven and Ulstein Design and Solutions, leveraging their expertise in delivering high-spec, specialised vessels.” 

In February 2025, the company and renewable energy company Semarak Renewable Energy signed a memorandum of agreement to form a joint venture, Semarak MIS, that will operate cable-lay vessels.

Malaysia-based Megamas Resources said the companies intended to develop “cutting-edge, fuel-efficient vessels designed to install and maintain offshore renewable power cables and subsea fibre-optic cables.” The company said the plan was backed by partners including Chalfouh International LLC, Crewstone International Private Equity & Investments and Symphonet.

Megamas Resources said the aim of the plan is to support the expansion of the offshore wind sector and growing demand for inter-array and export power cables, and enhance regional telecommunications infrastructure.

In late 2023, Megamas said it had contracted Ulstein Design & Solutions for the design of what they describe as “an advanced, highly integrated and fuel-efficient cable laying and repair vessel.”

The company said the vessel it hopes to build at Lloyd Werft will comply with DNV’s Clean (Design) and Recyclable class notations. It is targeting delivery of the first vessel by the end of 2027.