Wärtsilä signs Guaranteed Asset Performance agreement NYK LNG Ship Management

May 31 2023

Wärtsilä guaranteed asset performance agreement delivers maximised overhaul intervals for NYK vessel

Technology group Wärtsilä has signed an eight-year Guaranteed Asset Performance agreement with Japanese operator NYK LNG Ship Management. The agreement covers the two Wärtsilä X72DF main engines on an LNG Carrier vessel and is designed to maximise the vessel availability and ensure its operation from dry dock to dry dock. This is achieved by guaranteeing the maximum time between overhauls. This guarantee ensures the safe and reliable operation between docks and minimises the impact of the maintenance on the vessel availability. The improved availability results in increased vessels earnings with the lowest maintenance cost. Furthermore, the performance guarantee ensures operational efficiency with minimal emissions. The contract was booked as order intake by Wärtsilä in March 2023.


In addition to spare parts and field service, the scope of the long-term agreement includes remote operational support, maintenance planning, and Wärtsilä’s unique 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.


“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,” says Henrik Wilhelms, Director, Agreement Sales, Wärtsilä Marine Power. “It is designed to maximise the vessels 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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