(MORGAN CITY, La.) — Conrad Shipyard and Samsung Heavy Industries (SHI), one of the world’s leading shipbuilders, announced the signing of a memorandum of understanding (MOU) on Thursday that formalizes a collaborative framework to jointly explore opportunities in the rapidly expanding U.S. liquefied natural gas (LNG) bunkering market.
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 U.S. regulatory and operational requirements. The MOU is intended to combine SHI’s global expertise in advanced LNG technologies with Conrad’s 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, 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 Shipyard
