KKR-backed Optic Marine Group is set to expand its fleet with two new vessels.
The company announced on LinkedIn that it was “excited to announce a Request for Proposal for the construction of two additional next-generation vessels.”
Timelines for the vessels have not been shared, nor have financial details.
The two new vessels join the company’s previously announced contract with Royal IHC for two cable-laying ships.
Together, OMS said the four new ships will enhance its operational capabilities and support the rapid growth of data traffic and digital connectivity worldwide.
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 in 2023 – as well as two barges and three tug boats.
Last 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 last year.
This comes a year after KKR invested $400 million into the company.