SHI, Zvezda Shipbuilding Form a Joint Venture
- Business & Finance
South Korean shipbuilding major Samsung Heavy Industries (SHI) has signed a term sheet with Russian counterpart Zvezda Shipbuilding Complex for the establishment of a joint venture (JV) aimed at managing construction projects of Arctic shuttle tankers.
The joint venture will provide technical support for the construction of Arctic shuttle tankers at the Russian yard of various sizes ranging from 42,000 to 120,000 DWT.
The tankers are intended to be used for the export of oil produced at the fields of Rosneft, as well as for other Russian and foreign producers.
“Cooperation with Samsung Heavy Industries (SHI) will facilitate the development of advanced shipbuilding technologies at Zvezda Shipbuilding Complex,” a statement from the company said.
The joint venture is being set up as sections for four ice-class supply vessels are being laid at the yard together with the commissioning of a heavy outfitting dock.
Separately, the joint venture of Zvezda Shipbuilding Complex and Hyundai Samho Heavy Industries Co., LLC Zvezda-Hyundai signed a contract with Lazurit Design Bureau for development of design documentation for building Aframax type tankers using gas engine fuel.
Zvezda has also signed an agreement with the French Engineering Company Gaztransport & Technigaz (GTT) on technical evaluation of the company’s potential to build membrane systems for LNG storage with further acquisition of the GTT license for gas-carrier construction.
This agreement was signed as a follow up of agreements reached in June 2017 at Saint-Petersburg International Economic Forum.
Rendering of Zvezda Shipbuilding Complex
As disclosed, the deal envisages technical assessment of the shipyard according to GTT standards and development of the action plan that will enable the shipbuilder to master the production of membrane type liquefied gas storage systems.
“After training of staff responsible for implementation of the project, Zvezda Shipbuilding Complex will fabricate a full-scale model of GTT storage system and the French engineering company will be able to take a decision about providing the shipyard with certification,” the company said.
Zvezda Shipbuilding Complex plans to launch production of gas carrier vessels as one of the priorities of the production program of the shipyard.
The Russian shipbuilding firm is being created on the basis of the Zvezda Far Eastern Shipyard by a consortium of Rosneftegaz, Rosneft and Gazprombank.
Once completed in 2018, the complex is planned to be able to construct tankers with a displacement of up to 350,000, DWT LNG carriers up to 250,000 cbm, ice class vessels, specialized vessels with a launch weight up to 29,000 tons, offshore platform units, and other types of ships.