Esvagt Enters South Korea’s Offshore Wind Market

Wednesday, February 28, 2024

Danish vessel owner Esvagt and South Korea-based shipping company KMC Line have formed strategic partnership to cooperate on offshore wind opportunities in the East Asian country.

A new collaboration between Esvagt and KMC Line, formalized through the signing of the letter of intent, is aiming to unlock the considerable potential in South Korean offshore wind industry.

Combining the two shipping companies' respective strengths is the new partnership's strongest card to secure a significant market position in the developing offshore value chain in the country, according to KMC Line's CEO, James Jonghoon Kim.

“KMC Line is dedicated to helping develop offshore wind in Korea, and we are happy to cooperate with a market leader like ESVAGT. Together, we can provide an expert and high-quality service for offshore wind and help the energy transition in Korea for many years ahead," Kim said.

"We have no doubt that ESVAGT and KMC Line present a compelling offering. By combining KMC Line, a reputable shipping company with a strong presence in Korea, and ESVAGT's expertise in Europe as a leading SOV operator, we can offer the growing Korean offshore wind industry a first-class service," added Peter Lytzen, CEO of Esvagt.

Esvagt boasts a fleet of dedicated Service Operation Vessels (SOV), pioneered in 2010. The SOVs provide accommodation for technicians, welfare facilities, offices and conference rooms, storage for turbine parts, and workshops.

The SOV offers flexible personnel and equipment transfer capabilities by either Walk-to-Work gangway system or Safe Transfer Boats.

Categories: Offshore Vessels Renewable Energy Industry News Activity Asia SOV Offshore Wind

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