Conrad and Samsung Heavy Industries target growing US LNG bunkering market
US shipbuilder Conrad Shipyard and South Korea’s Samsung Heavy Industries (SHI) have agreed to jointly explore the development of LNG bunkering vessels for the US market.
IMAGE: An LNG tanker escorted by tugboats navigating through coastal waters. Getty Images
Under the agreement, the two companies will assess technical and commercial opportunities to support the design, construction and deployment of LNG bunkering vessels tailored to meet US regulatory and operational requirements.
Conrad said the partnership will bring together SHI’s experience in advanced LNG vessel technologies and Conrad’s domestic shipbuilding capabilities and regulatory expertise.
"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 stated.
The partnership is expected to reinforce the growth of LNG bunkering capacity in the US market.
The move follows proposed US rules on LNG export shipping first unveiled in April 2024 and revised in 2025, under which at least 1% of US LNG exports would need to be transported on US-flagged and US-operated vessels from 2028, with that share required to be on US-built vessels from 2029, rising gradually to 15% by 2047.
By Gautamee Hazarika
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