According to the ISCPC, there are around 60 cable ships in operation, many of which are more than 30 years old.
KKR-backed OMS Group has signed a contract with Dutch maritime firm Royal IHC for the construction of several cable-laying ships.
OMS said the new vessels will help it to meet the surge in telecommunications demand.
The first vessel is expected to be delivered in Q1 2027. Neither the financial details nor the number of vessels were disclosed.
Cable ships are few and far between. According to the ISCPC, there are around 60 cable ships in operation, many of which are more than 30 years old. With more than 400 subsea cables running and demand increasing, a limited supply of vessels can delay projects and slow repairs.
Founded in 1983, Optic Marine Group is based in Selangor, Malaysia. The company provides subsea cable installation and maintenance. Currently, OMS operates six cable laying and repair vessels – the most recent, the CS Cable Vigilance, launched last year – as well as two barges and three tug boats.
Earlier this year, OMS Group secured $300 million in loans through a syndicated facilities agreement with a financial institution consortium to expand its cable ship fleet. The company also announced plans to invest $300 million in subsea and cable infrastructure in September this year.
This comes a year after KKR invested $400 million into the company. Most recently, OMS Group’s CS Lodbrog was involved in a rescue mission off the coast of Samoa.
Holland’s Royal IHC is a shipbuilding company, headquartered in Kinderdijk. The company supplies maritime technology for dredging, offshore, mining, and defence industries.
