LS Cable & System is to acquire what it says will be the largest submarine cable laying barge in South Korea for the growing offshore wind sector at home and abroad.
The 8000-tonne GL2030 vessel would be the company’s first submarine cable laying barge.
LS Cable & System said the acquisition will mean it becomes the only company in South Korea to have both a submarine cable plant and a laying barge.
GL2030 will be used first for domestic projects starting in the first half of 2022, it added.
“By owning the ship directly, LS Cable & System believes that it will be able to freely adjust its operation schedule, so that it will be better able to expand its participation in forthcoming submarine cable projects in East and South-east Asian countries,” the company said.
LS Cable & System chief executive and president Myung Roe-Hyun said: “In line with the global spread of carbon-neutral policies, we are increasing our eco-friendly business, and continuously investing to secure our global competitiveness.”
A company official added: “As there has been no submarine power cable laying barge in Korea, we have had difficulties adjusting the construction schedule and securing quality.
“If we operate a cable laying barge on our own, we will be able to accumulate know-how and enhance our construction expertise.”