Wärtsilä and Samsung Heavy Industries (SHI) have signed a Joint Development Project (JDP) agreement aimed at establishing a more efficient solution for LNG Carrier and Shuttle Tanker vessels.
Overall cost optimisation, including both CAPEX and OPEX, is among the project aims. The agreement was signed on 3 April at the LNG19 exhibition in Shanghai.
The JDP will build on the sharing of knowledge and experience between SHI and Wärtsilä. It is expected that the agreement, which provides a level of equality that is greater than in normal shipyard/supplier relationships, will benefit both parties, since it gives valuable opportunities for important co-creation.
Booming LNG Carrier Market
An important driver for the JDP is the strong LNG carrier newbuilding market. 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.
Picture: The Joint Development Project was signed by Jin-Taek Jung; Executive Vice President, Engineering & Procurement Operations, SHI and Timo Koponen; Vice President, Processing Solutions, Wärtsilä Marine.