Daewoo Shipbuilding and Marine Engineering, Joint Development of 'LNG Facility FSRU' Operation System with Japanese Shipping Company

[Asia Economy Reporter Park So-yeon] Daewoo Shipbuilding & Marine Engineering (DSME) is teaming up with Japan's MOL (Mitsui OSK Lines) to advance the digitalization of the high value-added vessel known as the 'Liquefied Natural Gas Floating Storage and Regasification Unit' (LNG-FSRU).

DSME announced on the 26th that it has signed a strategic technology joint development agreement with MOL for the digitalization of LNG-FSRU.

Called a "floating LNG terminal," the LNG-FSRU is recognized as a representative high value-added vessel because it can supply natural gas without large-scale facility investments such as onshore terminal construction.

The two companies plan to develop a "smart ship solution" that enhances the efficiency, convenience, and safety of vessel operations, which will be installed on MOL's LNG-FSRU.

To this end, DSME plans to implement a smart ship operation system based on its own smart ship solution, equipped with remote monitoring functions for key equipment and digital optimization of operating conditions.

MOL is a leading Japanese shipping company operating over 800 vessels, including the world's largest LNG carrier fleet.

According to Clarkson Research, a specialized maritime and shipping research institution, DSME has built 11 out of 29 LNG-FSRUs and LNG-RVs (LNG Regasification Vessels) currently operating worldwide, holding a 38% market share and ranking first globally.