Royal Volker Wessels Stevin N.V. (VolkerWessels) and Royal Boskalis Westminster N.V. (Boskalis) have signed a letter of intent, establishing a cable installation joint venture.
Each will hold a 50% stake in Visser & Smit Marine Contracting Holding B.V., which is currently a 100% subsidiary of VolkerWessels. Activities will continue under the VSMC name.
The two companies are seeking to enhance their positions in the offshore cable installation market. The joint venture will focus primarily on offshore power cables, such as infield and export cables for offshore wind farms. VSMC and Boskalis already work together on a project basis and are looking to pool knowledge and equipment
VSMC will have access to two cable-laying vessels, the Stemat Spirit and the Ndurance. The Ndurance will be delivered this year. The vessels have a cable turntable capacity of around 5,000 tonnes and are wholly owned by the two parent companies.
VSMC and Boskalis have recently collaborated on developing the Trenchformer, a multi-purpose cable trencher capable of burying cables in depths of up to 400 meters. It will be deployed on projects from the summer.