Conrad Shipyard and Samsung Heavy Industries announce MOU to advance LNG project development in the U.S

Conrad Shipyard, LLC, a premier U.S. shipbuilder, and Samsung Heavy Industries Co., Ltd. (SHI), one of the world’s leading shipbuilders, today announced the signing of a Memorandum of Understanding (MOU) that formalizes a collaborative framework to jointly explore opportunities in the rapidly expanding U.S. 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 globalexpertise in advanced LNG technologies with Conrad’s proven LNG shipbuilding capabilities and domestic market access.

A representative of SHI stated, “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.”

“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. maritimesector and positions both organizations to develop advanced LNG bunkering vessels tailored to meet marketdemand.”

Conrad’s extensive experience navigating regulatory requirements associated with LNG bunkering vesseldesign, engineering, and construction combined with SHI’s state-of-the-art LNG technology will greatlyenhance the U.S. LNG market.