PaxOcean Secures Major Contract for Advanced Offshore Vessels with Greek Shipowner

PaxOcean Group, a leading marine and offshore asset service provider, has signed a significant newbuilding contract with an unidentified Greek shipowner.

The agreement involves the construction of up to ten state-of-the-art Multi-Purpose Service Vessels (MPSVs), marking a major development in the offshore vessel industry.

The 5,000 DWT vessels, featuring DP2 dynamic positioning, will be built at PaxOcean’s Zhoushan shipyard in China. Deliveries are scheduled to commence from the third quarter of 2026.

Designed by Norway’s renowned Salt Ship Design, the MPSVs are set to establish new industry standards with their modern design and exceptional fuel efficiency.

A PaxOcean spokesperson emphasized the significance of the project, stating, “We are excited to construct these innovative vessels, which will contribute to the advancement and efficiency of offshore operations.”

The contract underscores PaxOcean’s growing influence in the marine and offshore sector. Established in 2007, the company operates five shipyards across Singapore, China, and Indonesia, along with an MRO facility in Saudi Arabia. PaxOcean’s comprehensive services include integrated solutions, newbuilding, module fabrication, green recycling, repairs, retrofits, and conversion of both conventional and renewable energy assets.

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