Korean company LS Marine Solution and Taiwan’s Dong Fang Offshore (DFO) have entered into a memorandum of understanding (MOU) which will see LS Marine chartering a service operations vessel (SOV) from DFO and participating in offshore wind project bidding in South Korea.
According to LS Marine Solution, this will be the first time an SOV will be introduced in Korea, with the company planning to dominate the domestic market based on DFO’s operating expertise.
In a press release on 14 August, the Korean company said that an SOV nicknamed Five-Star Hotel on the Sea would offer premium services by staying on the sea for at least ten days.
In South Korea, LS Maine Solution plans to bid for delivering services to offshore wind projects and enter into a maintenance contract for 15–20 years with each offshore wind farm.
“For the SOV business, a dynamic positioning system (DP system) for precision location adjustment of the hulls is important”, said an LS Marine Solution official. “LS Marine Solution is equipped with unrivaled DP system operation experience and a dedicated wharf, and also has strengths in the field of vessel repair”.
The company also revealed plans to enter overseas markets in the US and Europe together with LS Cable & System and LS Eco Energy.