LS Cable & System to Buy 'Largest' Cable Laying Barge in South Korea

Wednesday, August 11, 2021

South Korean subsea cable firm LS Cable & System said Wednesday it would soon acquire the largest submarine cable laying barge in Korea, targeting offshore wind opportunities.

"LS Cable & System is planning to strengthen its position in the submarine cable business through the acquisition of its first submarine cable laying barge, the 8,000-ton GL2030, to proactively prepare for the rapidly growing offshore wind power generation projects being developed at home and abroad," the company said.

With the investment in GL2030, LS Cable & System says it will become the only company in Korea to have both a subsea cable manufacturing plant and a subsea cable laying barge. 

"Globally, there are only a handful of companies that can produce and lay extra-high-voltage submarine cables in Europe," the company said.

"As there has been no submarine power cable laying barge in Korea, we have had difficulties adjusting the construction schedule and securing quality,” said a company official. “If we operate a cable laying barge on our own, we will be able to accumulate know-how and enhance our construction expertise.”

"GL2030 will be used first for domestic projects starting in the first half of 2022. As a submarine cable laying barge with the latest specifications equipped with a ‘precision shop position control system,’ GL2030 will raise the submarine cable laying competency of Korea to the next level," the company said.

Also, by owning the ship directly, LS Cable & System said it would be able to freely adjust its operation schedule so that it will be better able to expand its participation in the upcoming submarine cable projects in East and Southeast Asian countries.
 

Categories: Offshore Asia Subsea Cables Offshore Wind

Related Stories

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Tokyo Gas Enters LNG Market in Philippines

China's CNOOC Aims for Record Oil and Gas Production in 2025

Petronas Greenlights Hidayah Field Development Off Indonesia

BP Targets 44% Oil, 89% Gas Increase from India’s Mumbai High Field

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Pharos Energy Extends Licenses for Two Vietnamese Gas Fields

Current News

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com