South Korea’s Taihan Cable & Solution has acquired a 2016-built cable laying vessel (CLV) from Norwegian DOF Group, representing the second offshore wind-dedicated CLV introduced in Korea.
The 10,000-ton class Skandi Connector was designed by Dutch shipbuilder Damen and has to date been deployed on 27 projects, installing approximately 1,300 kilometers of submarine cables, Taihan noted.
The acquisition is said to bring the South Korean company strengthened construction capabilities for inter-array and export cables, as well as long-distance power grid interconnection projects and HVDC transmission networks.
By operating two CLVs, including PALOS, the only offshore wind CLV currently in Korea , Taihan said it had established a dual-track installation system that enables the deployment of the most suitable vessel depending on project characteristics and installation environments.
The sale and purchase agreement was signed on May 14, with the 138.4-meter-long vessel scheduled to be delivered to Korea in August.
“The investment is particularly meaningful as it comes amid rapidly growing demand for large-scale cable laying vessels driven by the global expansion of offshore wind power and increasing investment in cross-border power grids. By securing a high-specification CLV that can be deployed immediately rather than constructing a new vessel, Taihan has improved project responsiveness and operational stability while proactively addressing the global imbalance in vessel supply and demand,” Taihan said.
“The company also expects the acquisition to contribute to the stability of domestic power grid projects and national energy security by reducing dependence on overseas vessels. In addition to operating its own fleet, Taihan plans to expand additional business opportunities through vessel chartering services.”