Zvezda, Samsung Heavy to Set Up Shuttle Tanker JV

Russia’s Zvezda shipyard and South Korean Samsung Heavy Industries have signed an agreement to establish a joint venture in order to organize an efficient project management system for construction of shuttle tankers.

The deal, signed in the framework of the IV Eastern Economic Forum, sets the conditions for the JV for the construction of tankers at Zvezda Shipbuilding Complex ranging from 42,000 to 120,000 dwt.

In accordance with the conditions of the agreement the joint venture will be established by the year end.

The agreement terms include exchange of experience in designing and construction of shuttle tankers. Samsung Heavy Industries will provide technical specifications as well as the basic and detailed design of the vessels to Zvezda and will assist with development of detailed engineering drawings jointly with Lazurit Central Design Bureau.

Also, in line with the agreement terms SHI will provide the technical support for planning, project management and quality assurance during construction and assembly, procurement of materials and equipment and ensure the engineering support of construction.

Furthermore, SHI will train the Russian personnel at their shipyard and organize shipyard internship at similar projects.