New NKT Cable-Laying Vessel Supports Record Demand
NKT (nkt.com) continues to grow its offshore capability as the company orders a new state-of-the-art cable-laying vessel (CLV). The order, valued betweenย $218 million and $270 million, comes from NKT HV Cables, the Swedish-based turnkey power cable manufacturing and installation business within NKT. The vessel will be built byย Vardย and designed byย Salt Ship Design AS, both based in Norway. Its hull will come fromย Vard Tulceaย in Romania. NKT links this new CLV directly to itsย record order backlogย and aย strong market outlookย for high-voltage submarine cables. The company plans to construct the vessel in parallel with its ongoing site expansion inย Karlskrona, Sweden, with both projects scheduled to be operational inย 2027.
Taihan Strengthens Submarine Cable Capabilities with CLV Acquisition
Meanwhile,ย Taihanย (taihan.com) has acquiredย South Koreaโs only cable-laying vessel, further strengthening its position in the submarine cable market. The 6,200-ton CLV specializes in submarine cable installation and featuresย self-propulsionย andย dynamic positioningย to enhance offshore performance. The vessel can carryย up to 4,400 tons of underwater cables, giving Taihan significant in-house installation capacity. The company notes that this addition helps future-proof its business amid expectedย shortages of cable shipsย and rising demand for offshore wind and power grid projects.
Supporting Offshore Wind and Turnkey Submarine Projects
Taihan plans to first deploy this CLV on theย Yeonggwang Nakwol Offshore Wind Power Project, using it from cable production through to offshore laying. With this acquisition, Taihan positions itself as a competitive turnkey provider, coveringย submarine cable manufacturing, transport, and installation. As only a small number of cable manufacturers also own and operate cable-laying vessels, Taihan expects to secure a leadership role in the rapidly expandingย global offshore wind power industry.
Rising Demand and Strategic Vessel Ownership
Industry observers expectย demand for submarine cablesย to keep growing, particularly for offshore wind farms and interconnector projects. This growth is likely to cause aย shortage of cable-laying vesselsย and higher charter rates. By owning their own CLVs, both NKT and Taihan reduce reliance on third-party tonnage, secure project execution capacity, and unlock new revenue opportunities in the offshore power sector. These strategic moves position each company to serve customers more reliably while capturing long-term growth in the global energy transition.
