One of the Pacific’s newer submarine cables has itself a new owner today. Hawaiki Submarine Cable Limited Partnership has announced the sale of 100% of the company to a subsidiary of BW Group Limited.
The Hawaiki cable stretches between the Pacific Northwest in the US and the markets of New Zealand and Australia, stopping halfway in Hawaii. It also offers a branch to American Samoa and has potential branches to Fiji, New Caledonia, and Tonga. It was completed in 2018, and its design life extends through 2043, so there’s lots of runway left for the asset.
So who is BW Group, and why do they now own a transpacific cable system? They are a primarily Singapore-based shipping company, with a fleet of 400+ vessels and other floating assets. They have been expanding that focus into various sustainable energy technologies and have always had experience in maritime connectivity.
One can see why a maritime-focused company might have an interest in more maritime assets, but this does seem like a new kind of owner for subsea fiber entering the marketplace. Whether this is a one time event or the start of a new trend is an open question.
The current management team will remain in place, so not much will change on the ground.
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Categories: Mergers and Acquisitions · Undersea cables
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