Conrad Shipyard, LLC, Morgan City, La., and Samsung Heavy Industries Co., Ltd. (SHI) announced a memorandum of understanding to form “a collaborative framework to jointly explore opportunities in the rapidly expanding U.S. LNG bunkering market,” the companies announced at the International WorkBoat Show in New Orleans on Dec. 4.
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 companies said. The alliance is intended “to combine SHI’s global expertise in advanced LNG technologies with Conrad’s proven LNG shipbuilding capabilities and domestic market access.”
“Through this collaboration, we expect to enter the U.S. LNG bunkering market while also contributing to the revitalization of the U.S. shipbuilding industry,” said an SHI representative.
“We are honored to collaborate with Samsung Heavy Industries,” said Johnny Conrad, executive chairman of 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,” the companies said.
SHI, headquartered in South Korea, is one of the world’s foremost shipbuilders, known for its advanced engineering capabilities in LNG carriers, offshore structures, digital ship solutions, and high-efficiency vessel technologies.
