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Under the MoU, 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 US regulatory and operational requirements, according to a Conrad statement.
The MoU is intended to combine SHI’s global expertise in advanced LNG technologies with Conrad’s proven LNG shipbuilding capabilities and domestic market access, the US shipbuilder said.
“Through this collaboration, we expect to enter the US LNG bunkering market while also contributing to the revitalization of the US shipbuilding industry,” a representative of SHI said.
“This MoU reflects Conrad’s focus on driving innovation in the US maritime sector and positions both organizations to develop advanced LNG bunkering vessels tailored to meet market demand,” Johnny Conrad, executive chairman, Conrad, said.
In 2018, Conrad delivered the first LNG bunker barge built in North America at its Orange, Texas facility.
The LNG bunkering barge Clean Jacksonville, owned by Seaside LNG, has no propulsion and it features one 2,200-cbm GTT LNG tank.
On the other hand, SHI is one of the world’s largest builders of LNG carriers.
SHI received orders for seven LNG carriers this year to date.
The shipbuilder has 64 LNG carriers in its order book.
In addition, SHI is also building FLNGs and received an order for Eni’s Coral Norte FLNG this year.
In October, Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, entered into a letter of award with SHI for its first FLNG unit.