All Endowed

DOF Secures Key $50m Subsea Cable Deal in Norway

DOF Group has won a “substantial” subsea cable replacement contract from Statnett, valued between $25m and $50m, strengthening its offshore construction backlog.

The project involves replacing high-voltage cables across Ofotfjorden, including partial removal of existing lines between Lødingen and Barøya, and installing four new 170 kV subsea cables integrated with fibre optic systems.

Offshore work will be executed over a 40-day campaign between May and September 2027 using one of DOF’s construction vessels, supported by survey, logistics, and onshore preparation activities running through 2026–2027. Preparatory engineering and procurement will begin immediately from DOF’s bases in Norway and Scotland, reflecting steady demand for complex subsea infrastructure services.

Zhejiang Shipping Deepens Bet on Capesize Market with Strategic Second Purchase

Zhejiang Shipping Group is accelerating its expansion into the capesize bulk carrier segment with the acquisition of a second large vessel through its Singapore-based subsidiary. This follows its earlier entry into the market with the 2019-built ZH Dampier, a newcastlemax bulk carrier.

The latest addition is the 2012-built Densa Shark, now renamed ZH Hangzhou, with a capacity of 179,200 dwt. The vessel was reportedly purchased for $32.5 million, a price that includes a six-month time charter. Notably, its estimated market value stands higher at around $39 million, suggesting a favorable deal for Zhejiang.

This acquisition reinforces Zhejiang Shipping’s strategic shift toward larger dry bulk vessels, complementing its existing fleet of about 50 ships, which are mostly medium-sized bulkers.

On the other side of the transaction, Turkey’s Marinsa Shipping is exiting the capesize segment, though it continues to operate actively within the broader bulk carrier market.

Overall, the move highlights Zhejiang’s growing ambition to strengthen its position in the large-capacity shipping space while capitalizing on market opportunities.

KNOT Expands Shuttle Tanker Fleet with New COSCO Zhoushan Order

Norwegian shuttle tanker specialist Knutsen NYK Offshore Tankers has ordered another 154,000 dwt shuttle tanker from COSCO Shipping Heavy Industry in Zhoushan, continuing its long-running vessel construction program. The new 279-meter ship will be classed by DNV and equipped with a DP2 dynamic positioning system and bow-loading capability. Financial terms and delivery date have not been disclosed.

This latest contract increases the number of vessels KNOT has ordered from the Chinese yard to 14, with several ships from the series scheduled for delivery between 2026 and 2028.

Founded in 2010 as a joint venture between Knutsen OAS Shipping and Nippon Yusen Kabushiki Kaisha, the company has grown into one of the world’s leading independent shuttle tanker operators. Including vessels under construction, the Knutsen-controlled fleet now approaches 40 ships, many owned through the New York-listed KNOT Offshore Partners, in which KNOT retains about a 30% stake while continuing to manage operations under long-term agreements.

MOL moves into Europe’s offshore wind vessel market with CSOV partnership

Mitsui O.S.K. Lines (MOL) is entering the European offshore wind support vessel sector through a partnership with Schoeller Holdings.

Under the deal, MOL will jointly own two Commissioning Service Operation Vessels (CSOVs) with Schoeller and take a stake in Deutsche Offshore Schifffahrt, which will operate the ships. Technical management will be handled by Columbia Shipmanagement.

The CSOVs are part of a four-vessel order placed by Schoeller at CSSC Huangpu Wenchong Shipbuilding, with two vessels co-owned by MOL. The ships—each 96.25 m long, 20 m wide, and capable of carrying 120 personnel—are scheduled for delivery in 2027.

This marks MOL’s first entry into the European offshore wind support vessel market, expanding from its earlier move into the SOV sector in Taiwan. The vessels will be deployed globally to support offshore energy projects as demand rises alongside Europe’s expanding offshore wind industry.