The collaboration focuses on logistics and LNG vessel construction, enhancing US market presence.
Under this agreement, Samsung Heavy Industries will expand its business into ship design, equipment and parts supply, and human resource development. The company also plans to review joint bidding for the US Navy’s next-generation logistics support vessel project. The US Navy’s next-generation logistics support vessel refers to ships that can efficiently perform supply operations for fuel oil, ammunition, and food supplies by securing rapid mobility.
NASSCO operates five yards across four states in the United States. It is a major shipbuilder that engages in logistics support vessel and commercial vessel design, procurement, production, and MRO, as well as construction of commercial vessels including container carriers.
DSEC is a Korean marine engineering specialist company that formed a strategic partnership with Samsung Heavy Industries in November and is exploring global business expansion including the United States. DSEC and NASSCO have maintained solid cooperation for 20 years in ship design and equipment package supply, creating expectations for synergy among the three companies.
Samsung Heavy Industries also exchanged a memorandum of understanding (MOU) with US-based Conrad Shipyard for cooperation in joint construction of LNG bunkering vessels.
Conrad is a shipyard with five yards in Louisiana and Texas that engages in new construction, repair, and modification of vessels including barges, tugboats, and government vessels.
The two companies plan to jointly participate in the US LNG transportation market through joint construction of LNG bunkering vessels. The US LNG bunkering market is projected to grow due to ▲securing LNG price competitiveness ▲increasing demand for eco-friendly fuel ▲expanded infrastructure investment including bunkering terminals.
Accordingly, Samsung Heavy Industries will establish a cooperation framework in the United States spanning from logistics support vessel MRO business with Vigor Marine Group to joint construction of next-generation logistics support vessels and LNG bunkering vessels in the commercial vessel sector.
A Samsung Heavy Industries official said, “Samsung Heavy Industries’ technical capabilities accumulated over 50 years will create synergy through cooperation in the MASGA (Make American Shipbuilding Great Again) project.”
Source: BusinessKorea
