May 31, 2023 | Maritime business news

Wärtsilä has signed an eight-year Guaranteed Asset Performance agreement with Japanese operator NYK LNG Ship Management, covering the two Wärtsilä X72DF main engines on an LNG Carrier vessel and designed to maximise the vessel availability and ensure its operation between scheduled dry dockings.

This is achieved by guaranteeing the maximum time between overhauls. The guarantee ensures the safe and reliable operation between docks and minimises the impact of maintenance on the vessel availability. This improved availability results in increased vessel earnings with the lowest maintenance cost. Furthermore, the performance guarantee is designed to ensure operational efficiency with minimal emissions.

In addition to spare parts and field service, the scope of the long-term agreement includes remote operational support, maintenance planning, and Wärtsilä’s Expert Insight predictive maintenance service. Expert Insight utilises artificial intelligence (AI) and rule-based advanced diagnostics to continuously monitor operating data. This secures asset availability by preventing potential problems before they occur.

Henrik Wilhelms, Director, Agreement Sales, Wärtsilä Marine Power said: “We are proud to have again been selected by NYK and look forward to continuing our long partnership with them. The Guaranteed Asset Performance agreement is the highest-level service contract within our Lifecycle Support strategy. It is designed to maximise the vessel’s fuel efficiency and overall performance in order to lower operating costs and reduce carbon footprint.”

Wärtsilä Guaranteed Asset Performance Agreements ensure a vessel’s operational reliability, performance and availability. Quantifiable performance targets are mutually agreed based on the customer’s business needs, and Wärtsilä guarantees that these targets will be reached and maintained. The measurable indicators can include, for example, uptime, reliability, fuel consumption, emissions and overhaul duration.

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