South Korean Taihan Cable & Solution has acquired what is said to be Korea’s only cable-laying vessel (CLV) for the offshore wind market.
Taihan, which announced the purchase on December 20, bought the vessel for approximately $38.4 million.
The CLV, equipped with self-propulsion and a DP2 system, can load up to 4,400 tons of underwater cables at once and is capable of sailing at 9 knots on average under its own power.
This acquisition is said to position Taihan competitively in turnkey projects that span from submarine cable production to laying. The company revealed it plans to make full use of the vessel first for the Yeonggwang Nakwol offshore wind project it recently won, and later for the Anma offshore wind project .
In January, Taihan will collect suggestions from its employees in naming the vessel.
“As this CLV meets the global standard for the European offshore wind power market, it opens up various business opportunities in the global market. We will work to leap forward as a total solution provider in the global submarine cable market through aggressive investments, including the construction of a second submarine cable plant for HVDC and export cables, and expanding our sales network both in Korea and internationally,” Taihan said.