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Wednesday, October 20, 2021 

Kongsberg Maritime (KM) has signed a Memorandum of Understanding (MoU) with China Merchants Industry (CMI), which lays out the two companiesí joint strategies for the future.

The agreement builds on the companies' history of cooperation, and consolidates a long and mutually fruitful business relationship. The new MoU outlines the future strategic route for the two parties and cements their commitment to continue delivering high-quality solutions to shipowners worldwide.

KM has maintained a strong presence in China for many years via its Chinese subsidiary company, providing key products and services to the Chinese maritime industry and driving the development of sustainable shipping through new technologies. CMI, meanwhile, focuses on the production of high-end, environmentally friendly and economical vessels. The CMI umbrella company accommodates four distinct business brands, these being Yiu Lian Dockyards, China Merchants Heavy Industry, China Merchants Jinling and the China Merchants Cruise Shipbuilding Company.

KM and CMI intend to collaborate more closely on the design and fitout of specific vessel types to provide shipowners with competitive, attractive and environmentally responsible long-term investments. Both companies are united in the goal of simultaneously increasing overall energy efficiency while reducing emissions: KM is spearheading the transition towards clean marine propulsion solutions which will help the Chinese shipping industry to meet the IMO 2050 emission targets, as well as facilitating the country’s objective of achieving a carbon-neutral economy by 2060.

The sectors defined by both companies as areas of common interest are cargo vessels such as container feeders or chemical tankers, mid-sized cruise and passenger vessels, LNGC (Large Natural Gas Carriers), FGSS (Fuel Gas Supply Systems), offshore wind and aquaculture offshore installations. Detailed discussions within KM, CMI and China Merchants Hoi Tung to further pursue strategic partnerships have already begun with regard to a number of specialist fields.

Wu Sichuan, Deputy GM China Merchants Industry, said: “Signing off on this MoU is a very hopeful step forward for both parties. Working in such close collaboration will speed processes such as partnership negotiations, bring clarity and focus to joint development projects and simplify the procedures by which integrated solutions are devised and put into practice, helping to provide shipowners with better solutions.”

Martin Wernli, SVP and Country Manager Greater China, Kongsberg Maritime, said: “It’s a pleasure to know that we’ll be engaging together on a wide range of relevant projects. The MoU formalises a hugely beneficial business alliance which has existed for years between CMI and ourselves; the fact that we’re taking this affiliation to the next level is a great means of ensuring our long-term commitment to the Chinese shipbuilding industry.”

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