At the LNG19 exhibition, Samsung Heavy Industries (SHI) and Wärtsilä signed an agreement for a Joint Development Project (JDP). The JDP will focus on developing efficient solutions for LNG carriers and shuttle tanker vessels. There will be an emphasis on Capex and Opex cost efficiencies. The two companies expect to create a foundation based on knowledge sharing.
This JDP is announced as the demand for LNG carriers is on the rise with new opportunities in the Middle East, the United States, Africa and Australia.
Timo Koponen, Vice President, Processing Solutions, Wärtsilä Marine stated, “SHI is a major high-tech, high-value shipbuilder with a number one newbuilding share in various vessel markets. We are, therefore, delighted to be partnering with them in a project that will ultimately benefit owners and operators around the world”.
SHI’s Executive Vice President, Engineering & Procurement Operations, Jin-Taek Jung commented that the JDP highlights both company’s mutual respect for the other’s experience and knowledge.
