Singapore / Zhoushan, September 23, 2025 – PaxOcean Group is proud to announce that it has been awarded a contract by DEME, a leading contractor in offshore energy and marine infrastructure, to construct a state-of-the-art Offshore Construction Vessel (OCV) at its Zhoushan shipyard in China, with delivery scheduled in 2028.

The newbuild OCV will play a pivotal role in enhancing DEME's subsea cable installation capacity, meeting the fast-growing needs of the global offshore wind sector. Once delivered, the vessel will complement DEME’s existing cable installation vessels, including the Living Stone and Viking Neptun.

Designed by SALT Ship Design (Norway), the 123-metre OCV will feature:

• A DP2 dynamic positioning system for precision operations
• A 150-ton active heave-compensated offshore crane
• Hangar facilities for two Work Class ROVs
• A 1,000-kWh hybrid battery system and methanol-ready propulsion, supporting decarbonisation and fuel flexibility
• Below deck: two 2,500-tonne cable carousels to enable swift deployment and seamless transitions across trenching, burial, and cable-laying operations
• Accommodation capacity for up to 123 personnel

This contract underscores PaxOcean Zhoushan’s proven track record in delivering complex, high-value newbuilds and conversion projects to the offshore energy sector.

Mr Tan Thai Yong, Managing Director and Chief Executive Officer of PaxOcean Group said: “We are honoured that DEME has chosen PaxOcean as a partner for this project. This underscores PaxOcean’s reputation as a trusted builder of advanced offshore vessels. It also builds on our proven track record in delivering solutions for the offshore wind sector, including wind farm installation vessels and inter-array cable lay vessels. The OCV reflects not only our engineering capabilities but also our long-term sustainability strategy, which includes developing electric and dual-fuel vessels as well as vessel retrofits with energy-saving technologies.”

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About PaxOcean Group
PaxOcean Group (PaxOcean) is a member of the Kuok Maritime Group (KMG) which is part of Kuok Group Singapore (KGSg). PaxOcean owns and operates five shipyards located in Singapore, China and Indonesia. First established in 2007 in Singapore, PaxOcean offers a wide range of services covering integrated solutions, newbuilding, module engineering and fabrication, green recycling, repairs and conversion of conventional and renewable energy assets. ­­­Visit PaxOcean at www.paxocean.com

About Kuok Maritime Group
Kuok Maritime Group (KMG) includes the PaxOcean Group (PaxOcean), Pacific Carriers Limited (PCL), PACC Offshore Services Holdings (POSH), Pacific Workboats Pte Ltd (PWPL), McPec Marine and Offshore Engineering Pte Ltd (McPEC) and KSL Maritime Ventures (KMV).  KMG offers an integrated suite of maritime solutions to businesses globally.  It serves the maritime value chain from provision of offshore maritime and subsea support services, shipping and transportation, newbuilding as well as harbour and terminal towage services to supporting start-ups offering technological and innovative solutions to the industry. Visit KMG at https://kuokgroup.com.sg/businesses/#maritime

About DEME
DEME (Euronext Brussels: DEME) is a leading contractor in the fields of offshore energy, environmental remediation, dredging, and marine infrastructure. DEME also engages in concessions activities in offshore wind, marine infrastructure, green hydrogen, and deep-sea mineral harvesting. The company can build on nearly 150 years of experience and is a front-runner in innovation and new technologies. DEME’s vision is to work towards a sustainable future by offering solutions for global challenges: climate change, a growing population and urbanization, increasing maritime trade, and environmental issues. With a team of more than 5,800 highly skilled professionals and one of the most advanced fleets in the world, DEME is wellpositioned to tackle even the most complex projects. DEME realized a turnover of 4.1 billion euros with an EBITDA of 764 million euros in 2024. For more information, please visit www.deme-group.com.

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