Samsung Heavy, Wärtsilä Team Up on LNG Carrier, Shuttle Tanker Solutions

South Korean shipbuilder Samsung Heavy Industries and technology group Wärtsilä are joining forces to develop more efficient solutions for LNG carriers and shuttle tankers.

The two sides signed a Joint Development Project (JDP) agreement at the LNG19 exhibition in Shanghai on April 3.

Overall cost optimization, including both CAPEX and OPEX, is among the project aims.

Wärtsilä said that a strong LNG carrier newbuilding market was an important driver for the JDP.

“There are potentially dozens of new vessels to be ordered for transporting increasing volumes of LNG from both new and extended export LNG terminals in Africa, Australia, Middle East and USA,” the company said.

“We look forward to working with Wärtsilä to co-develop LNG carriers and shuttle tankers with improved efficiency. We are both market leaders in our spheres, and this joint development underscores the mutual respect and appreciation that we have for each other’s knowledge and experience,” said Jin-Taek Jung, executive vice president, Engineering & Procurement Operations, SHI.