Seoul: Wärtsilä-Hyundai Engine Company, a 50/50 joint venture between Wärtsilä and Hyundai Heavy Industries (HHI), inaugurated its new factory in Korea last week.
The factory, which manufactures Wärtsilä 50DF dual-fuel engines for LNG carriers and other marine applications, has an optimal capacity 100-120 engines a year. Speaking at the inauguration event, Ole Johansson, president and CEO of Wärtsilä Corporation addressed the need for new LNG terminals to fulfill the growing demand for gas and LNG vessels. “The present LNG fleet of 260 vessels needs to increase to over 700 vessels by the year 2030. The introduction of new LNG terminals has experienced delays due, among other things, to the lack of availability of equipment and staff. One real alternative to land-based terminals lies in the development of offshore floating projects. Our joint-venture company has just recently received a major order for this type of project,” said Johansson.
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