Wartsila, Samsung Hone LNG Tanker Efficiency

Finnish technology group Wartsila and Korean Samsung Heavy Industries (SHI) signed April 3 a joint development project (JDP) to make LNG carrier and shuttle tanker vessels. 

With a host of new build liquefaction capacity coming on line globally in the near term, they want to find ways to lock in customers with promises of lower operating and capital costs and higher efficiency.

Wartsila said the agreement would benefit both parties and the industry as a whole, since it gives valuable opportunities for important co-creation.

It said SHI is a "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.”