Conrad, Samsung agree to work together in LNG bunkering market
Morgan City’s Conrad Shipyard LLC and Samsung Heavy Industries Co. Ltd., another leading shipbuilder, have agreed to work together in LNG bunkering.
Conrad announced the signing of a memorandum of understanding that “formalizes a collaborative framework to jointly explore opportunities in the rapidly expanding U.S. LNG bunkering market,” according to a press release.
Bunkering in the process for transferring liquefied natural gas to a ship for use as fuel. Bunkering helps ships lower their carbon emissions.
The Sea-LNG website reports that only six LNG bunkering vessels existed in 2019. By the middle of this year, there were 62 with orders for 30 more.
Under the memorandum, Conrad and SHI will work together to evaluate and pursue technical, commercial and market-based initiatives that support the design, construction and deployment of LNG bunkering vessels tailored for U.S. regulatory and operational requirements.
The memorandum is intended to combine SHI’s global expertise in advanced LNG technologies with Conrad’s proven LNG shipbuilding capabilities and domestic market access, Conrad said in a news release.
“We are honored to collaborate with Samsung Heavy Industries,” said Johnny Conrad, executive chairman, Conrad Shipyard. “This MOU reflects Conrad’s focus on driving innovation in the U.S. maritime sector and positions both organizations to develop advanced LNG bunkering vessels tailored to meet market demand.”
Conrad’s extensive experience navigating regulatory requirements associated with LNG bunkering vessel design, engineering and construction combined with SHI’s state-of-the-art LNG technology will greatly enhance the U.S. LNG market, Conrad said.
Samsung Heavy Industries Co., Ltd., headquartered in South Korea, is one of the world’s foremost shipbuilders, known for its advanced engineering capabilities in LNG carriers, offshore structures, digitalship solutions, and high-efficiency vessel technologies, the press release said.
Conrad Shipyard, established in 1948 and headquartered in Morgan City, designs, builds and overhauls a wide variety of steel marine vessels, including barges, dredges, and dredge support equipment, tugboats, ferries, drydocks, lift boats, offshore supply vessels and other steel products for commercial and government customers.
Conrad provides conversion, repair, and new construction services at its five shipyards located in southern Louisiana and Texas.
