Market Trends

New listed company:Dong Fang Offshore Co., Ltd.(7786)

Ming-Ya Cheng
Senior Associate at TWSE

Dong Fang Offshore Co., Ltd. (hereinafter referred to as “Dong Fang Offshore”) was established in July 2019. It primarily provides vessel leasing and maritime engineering-related services, proactively cultivates professional talent in maritime engineering, and possesses a comprehensive and experienced maritime team. Through extensive concrete experience in offshore wind power projects, Dong Fang Offshore possesses a comprehensive understanding of industry operations and market demands. Moreover, its service quality has earned the trust and recognition of clients and has been audited and approved by numerous major developers and turnkey contractors. As one of Taiwan’s largest operators of offshore marine engineering vessel fleets, Dong Fang Offshore demonstrates exceptional expertise.

Since its establishment, Dong Fang Offshore has actively expanded its fleet, which now consists of 18 vessels (including 4 vessels under construction). The fleet includes crew transfer vessels, large offshore tugs, survey vessels, bulk cargo barges, construction support vessels, and flex/cable installation vessels. This fleet enables the company to meet the needs of offshore wind power projects at every stage – from construction to operation and maintenance – demonstrating a high degree of flexibility and integration capability. Three service operation vessels and one construction support vessel are currently under construction to strengthen the company’s position in the Taiwanese offshore wind-specific vessel market. Furthermore, long-term charter agreements ranging from 5 to 15 years have been signed for the three service operation vessels with offshore wind farms and wind turbine operations and maintenance companies. This arrangement further secures the company’s long-term cash flow, facilitates the early deployment of operational teams, and enables economies of scale, thereby establishing a competitive edge. In addition, Dong Fang Offshore has undertaken telecommunications submarine cable construction projects and has successfully deployed its vessels in the European market. This further signifies its successful cross-industry and international expansion, marking a key milestone in the company’s integration and technological self-sufficiency.

Dong Fang Offshore specializes in maritime engineering vessel leasing, offshore wind farm construction, long-term operations and maintenance services, submarine cable engineering, and project management, with a focus on the offshore wind power sector. At the same time, the company has also entered the offshore oil and gas fields, as well as the telecommunications submarine cable installation and maintenance sectors. Leveraging comprehensive maritime engineering expertise and full life-cycle services, the company provides clients with highly reliable, one-stop solutions covering the entire spectrum of maritime engineering – from early-stage exploration, planning and design, and construction and installation, to late-stage long-term operation and maintenance. Furthermore, vessels are allocated according to client needs to enhance client retention. As one of the few maritime engineering companies in the Asia-Pacific region possessing diversified integration capabilities, it has obtained certifications for its Quality, Health, Safety, and Environment Management Systems in accordance with international standards, including the International Safety Management Code (ISM), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. The company’s profitability demonstrated an upward trend in 2023, 2024, and the first half of 2025, with earnings  per share (EPS) reaching NT$7.07, NT$7.94, and NT$4.83 respectively. 

Leveraging its long-accumulated maritime engineering expertise and extensive track record, Dong Fang Offshore continues to expand its presence in domestic and international maritime engineering markets through cross-industry and cross-regional deployment as well as strategic alliances with partners from different sectors. By driving technological innovation and resource integration, the company is actively advancing into the global renewable energy market to broaden its market footprint and diversify operational risks, thereby reducing dependence on any single regional market. Dong Fang Offshore is committed to providing efficient and competitive comprehensive solutions that contribute to the global energy transition.

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