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.