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 between $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 by Vard and designed by Salt Ship Design AS, both based in Norway. Its hull will come from Vard Tulcea in Romania. NKT links this new CLV directly to its record order backlog and a strong market outlook for high-voltage submarine cables. The company plans to construct the vessel in parallel with its ongoing site expansion in Karlskrona, Sweden, with both projects scheduled to be operational in 2027.
Taihan Strengthens Submarine Cable Capabilities with CLV Acquisition
Meanwhile, Taihan (taihan.com) has acquired South Korea’s only cable-laying vessel, further strengthening its position in the submarine cable market. The 6,200-ton CLV specializes in submarine cable installation and features self-propulsion and dynamic positioning to enhance offshore performance. The vessel can carry 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 expected shortages of cable ships 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 the 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, covering 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 expanding global offshore wind power industry.
Rising Demand and Strategic Vessel Ownership
Industry observers expect demand for submarine cables to keep growing, particularly for offshore wind farms and interconnector projects. This growth is likely to cause a shortage of cable-laying vessels 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.