Renewed Wärtsilä Lifecycle Agreement will enhance performance and maintenance of ten Seapeak LNG Carriers
Wärtsilä Corporation, Press release, 30 July at 11 AM EEST
Technology group Wärtsilä has signed a 16-year Lifecycle Agreement with Seapeak Maritime (Glasgow) Ltd, one of the largest independent owner-operators of liquefied gas vessels. The contract covers ten LNG Carriers and is an extension of an earlier Wärtsilä Lifecycle Agreement for these vessels. The new order was booked by Wärtsilä in Q1 2024.
The global demand for LNG is rising, and is expected to continue to rise over the coming years, which is driving a need for fewer maintenance interventions in LNG Carriers in operation. This is especially key as the vessels under this service agreement operate in a highly dynamic and fast-moving market environment, with ongoing challenges around predicting vessel schedules and voyage times. The new agreement, which is based on 72,000 running hours, is designed to increase the engines’ time between overhauls to 30,000 operating hours. The enhanced maintenance performance enabled by this agreement will result in a new level of support for the operator.
“We are focused on improving performance and optimising our fleet’s maintenance concept. This is why we have entered into this new agreement with Wärtsilä, as a trusted support provider. This agreement goes beyond what we had before and will take us into a new era of maintenance efficiency,” says Michael McNaul, Fleet Manager – Seapeak.
The scope of the agreement includes remote 24/7 operational support from Wärtsilä experts, Dynamic Maintenance planning, Wärtsilä’s predictive maintenance service Expert Insight, scheduled spare parts, and field service for larger and more complex issues. Wärtsilä will also provide a full-time Contract Manager in Seapeak’s Glasgow office.
Wärtsilä’s Expert Insight is a predictive maintenance service that combines artificial intelligence techniques and advanced diagnostics with Wärtsilä’s OEM expertise to identify anomalous behaviour. It proactively identifies and highlights potential failures and early indications of equipment deterioration. Today there are hundreds of vessels all over the world benefiting from the added layer of protection of Wärtsilä’s service agreements, offering actionable advice to ship owners and operators looking to ensure optimal operation and reduce unplanned maintenance of their vessels.
“Optimal maintenance procedures for the ship’s engines and equipment add considerable value through enhanced efficiency and reduced operating costs. Wärtsilä’s lifecycle support approach, as illustrated by our tailored maintenance agreements, is a central pillar in our efforts to increase efficiencies and add greater sustainability to our customers’ operations,” comments Andrea Morgante, Vice President, Performance Service at Wärtsilä Marine.
This agreement took effect from January 2024.
Media contact for more information on this release:
Isabella Alder
Positioning and Strategic Communications Manager, Wärtsilä Marine
Tel: +44 (0) 7792 681 757
marine.media@wartsila.com
Image caption: Wärtsilä has signed a 16-year Lifecycle Agreement with Seapeak Maritime (Glasgow) Ltd, one of the largest independent owner-operators of liquefied gas vessels. The contract covers ten LNG Carriers and is an extension of an earlier Wärtsilä Lifecycle Agreement for these vessels. © Seapeak Maritime
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Wärtsilä Marine in brief
Wärtsilä Marine is a global pioneer in power, propulsion and lifecycle solutions for the marine market. We develop industry-leading technologies, advancing maritime's transition to new fuels. We support building an end-to-end digital ecosystem where all vessels and ports are connected. Ultimately, Wärtsilä Marine is driving the shipping industry forward on its journey towards a decarbonised and sustainable future through our broad portfolio of engines, propulsion systems, hybrid technology, exhaust treatment, shaft line solutions and digital technologies, as well as integrated powertrain systems. Our offering, which is underpinned by our performance-based agreements, upgrades, lifecycle solutions, decarbonisation services, as well as an unrivalled global network of maritime expertise, delivers the efficiency, reliability, safety, and environmental performance needed to support a safe and sustainable future for our customers, our communities and our planet.
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Wärtsilä in brief
Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasise innovation in sustainable technology and services to help our customers continuously improve environmental and economic performance. Our dedicated and passionate team of 17,800 professionals in more than 280 locations in 79 countries shape the decarbonisation transformation of our industries across the globe. In 2023, Wärtsilä’s net sales totalled EUR 6.0 billion. Wärtsilä is listed on Nasdaq Helsinki.
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