Finnish technology group Wartsila and Korean shipbuilder Samsung Heavy Industries are teaming up to optimise LNG carrier and shuttle tanker costs with new designs.
A joint development project will look to "establish a more efficient solution" for the vessels.
They want to lower capex and opex costs through the sharing of knowledge and experience.
Jin-Taek Jung, Samsung's executive vice president of engineering and procurement operations, said: “We look forward to working with Wartsila to co-develop LNG carriers and shuttle tankers with improved efficiency."
The alliance has been spurred by the strong LNG carrier newbuilding market.
There are potentially dozens of new vessels to be ordered for transporting increasing volumes of LNG from both new and extended export LNG terminals in Africa, Australia, the Middle East and the US, the companies said.
