NEWS PRTaihan Acquired “Korea’s Only Cable Laying Vessel for Offshore Wind Power”
<Taihan’s newly acquired cable laying vessel > Offshore Wind Power Business Sailing SmoothlyTaihan Acquired “Korea’s Only Cable Laying Vessel for Offshore Wind Power”- A 6,200-ton CLV specialized for submarine cables, capable of self-propulsion and dynamic positioning- Future-proofing business and securing revenue sources amid expected shortages of cable ships- Emerging as a total solution provider covering both underwater cable production and installationTaihan Cable & Solution is gearing up to leap forward as a total solution provider capable of laying submarine cables. On December 20th, , led by CEO Song Jong-min, announced the acquisition of a 6,200-ton cable laying vessel, or CLV. Korea’s only CLV designed for offshore wind power, is equipped with advanced features such as self-propulsion and a dynamic positioning system (DP2). The vessel can load up to 4,400 tons of submarine cables at once. This acquisition positions Taihan competitively in turn-key projects that span from submarine cable production to laying. As there are only a few cable manufacturers with cable-laying capabilities, Taihan is set to lead in the burgeoning offshore wind power industry globally. Furthermore, the increasing demand for submarine cables is likely to cause a shortage of cable layers, leading to higher charter rates for such vessels. Owning this vessel positions Taihan favorably to undertake projects steadily and tap into new revenue sources. A cable laying vessel is specifically designed for submarine cables. Therefore, it outperforms cable laying barges, or CLB, converted barges originally used for carrying cargo. Capable of sailing at 9 knots on average under its own power, the CLV can transport and lay cables much faster that CLBs, which mostly rely on tugboats. This efficiency is especially beneficial for distant projects in regions like Europe and the Americas. The vessel also boasts high stability in rough seas and resistance to severe weather conditions. In addition, a dynamic positioning system (DP2) mounted on the vessel automatically maintains its designated position for hours, allowing for precise cable installation and stable navigation. Taihan is planning to make full use of this vessel first for the Yeonggwang Nakwol Offshore Wind Power Project it recently won, and later, the Anma Offshore Wind Power Project. In January next year, the company will collect suggestions from its employees in naming the vessel. A company official said, “As this CLV meets the global standard for the European offshore wind power market, it opens up various business opportunities in the global market.” The official added, “We will work to leap forward as a total solution provider in the global submarine cable market through aggressive investments, including the construction of a second submarine cable plant for HVDC and export cables, and expanding our sales network both in Korea and internationally.”
NEWS PRTaihan won the contract for the supply of submarine cables for the Yeonggwang Nakwol Project
Taihan won the contract for the supply of submarine cables for the Yeonggwang Nakwol ProjectWinning the bid for a submarine cable project, Taihan is set to sharpen its competitive edge. Taihan Cable & Solution won the contract for the supply of submarine cables for the Yeonggwang Nakwol Offshore Wind Power Project worth 100.3 billion won. Under this contract, Taihan is responsible for supplying inter-array submarine cables that connect wind power generators, and submarine cables connecting the wind farm with a new substation on Songi Island. The cables will be produced in the 1st stage facility of Submarine Cable Plant 1 in Dangjin, which will begin operations early next year. The completion of the 2nd stage facility of Submarine Cable Plant 1 as well as Submarine Cable Plant 2 is expected to make the company more competitive in future bids.
BUSINESS productSubmarine Cable
A submarine cable is installed on the seabed to transport power between two points across the sea. Taihan has made continuous efforts to develop submarine cables, and as a result, has succeeded in developing a 33kV submarine distribution cable. In order to spur on our efforts to meet the growing demand for offshore wind power generation, Taihan will be constructing a coastal plant in Dangjin, dedicated to manufacturing submarine cables.