DaeHan Cable Signs 51 Billion KRW Charter Contract for Cable Laying Vessel

Deployment of Overhead Line Installation for Haecheon Project

Daehan Electric Wire & Cable has begun to achieve tangible results by opening the way for the chartering business of cable laying vessels.

Daehan Electric Wire & Cable announced on the 5th that it has signed a charter contract for cable laying vessels with Haecheon. The charter period is a total of 16 months from July to October next year. The charter amount is 51 billion KRW.

Chairman Kim Young-il of Haechun (left) and Kim Eung-seo, Head of Management at Korea Electric Wire, are taking a commemorative photo after signing the charter contract for the laying vessel. / Photo by Korea Electric Wire

Haecheon is a company engaged in submarine cable laying and underwater structure construction projects. The company plans to deploy Daehan Electric Wire & Cable’s laying vessels for the offshore wind projects it has previously secured.

With this contract, Daehan Electric Wire & Cable recorded sales exceeding the vessel acquisition cost just three months after purchasing the laying vessel. Previously, the company invested about 50 billion KRW in December last year to acquire a dedicated submarine cable laying vessel to expand its submarine cable construction capabilities and secure new revenue sources.

A representative from Daehan Electric Wire & Cable said, "This charter contract is an opportunity to confirm the competitiveness of our laying vessels and new business expansion opportunities. We will strengthen our submarine cable products and production capabilities and expand the operation capacity of laying vessels, which is expected to see increased demand, to become a total solution provider in the submarine cable sector."

The laying vessel owned by Daehan Electric Wire & Cable is the only offshore wind CLV (Cable Laying Vessel) in Korea. It is equipped with the latest features such as self-propulsion capability to operate at an average speed of up to 9 knots and a precise vessel positioning control system (DP2) that enables stable and accurate cable laying.

This content was produced with the assistance of AI translation services.