South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) and Japan’s Mitsui OSK Lines (MOL) have signed an agreement to co-operate on the development of ‘smartship’ technology to remotely monitor LNG floating storage and regasification unit (FSRU) vessels
Under the agreement, the two companies will develop a smartship solution that enhances the efficiency, convenience and safety of ship operations and incorporate the technology into MOL’s FSRU.
DSME’s own smartship solution will be used with various digitalisation technologies to develop a system for remotely monitoring key equipment and optimising operations based on a digital twin.
The co-operation between DSME and MOL brings together two influential players in the LNG market. DSME has built 11 of the 29 FSRUs or regasification vessels in service, a 38% market share, according to Clarksons Research.
One of the world’s largest ship operators with more than 800 vessels in its fleet, MOL sees FSRUs as a ‘pillar’ in growing its business. Under an agreement with Karpowership International, it has created a joint venture company, Karmol, to offer LNG-to-power solutions that incorporate FSRU technology and floating power generation.
DSME Research Institute executive director Choi Dong-kyu called the agreement “a meaningful first step in the development of a smart LNG-FSRU.” Added Mr Choi, “With this co-operation, the company will develop and apply smartship solutions that are specific to FSRUs. We expect this to strengthen our competitiveness in this field.”
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