Wärtsilä's asset and lifecycle management agreem

Wärtsilä Corporation, Press release, 20 October 2017 at 10 a.m. EEST

The technology group Wärtsilä has signed a maintenance agreement with Monaco-based GasLog LNG Services, covering eight LNG carriers operating on Wärtsilä dual-fuel engines. The agreement ensures the certainty and predictability of fleet operations by engaging Wärtsilä in the maintenance and optimisation of the vessels' engines.

"By analyzing the operating conditions of the ship engines and streamlining maintenance accordingly, the operative efficiency of GasLog's vessels is optimized at all times. Instead of concentrating on the theoretical lifetime of engine components, we monitor their actual condition. By applying real-time installation data we can strive for optimum lifecycle utilisation of the entire installation. Overall, I'm very pleased to see how we are extending the close cooperation between our companies through another long-term partnership agreement," says Yiannis Christopoulos, Director Service Unit Greece-Cyprus & Managing Director of Wärtsilä Greece.

The agreement, effective on 1 October 2017, consists of Dynamic Maintenance Planning (DMP), technical support, secured availability of spare parts and specialised technical personnel around the clock as well as constant performance monitoring. Wärtsilä's digital services enable remote troubleshooting and tuning of engines as well as software updates. Additionally, continuous collection of performance data allows for detailed analysis which is reported to GasLog on a regular basis.

The agreement covers eight LNG carriers: four new LNG carriers and a renewal of services for an additional four LNG carriers. The new agreement expands the cooperation between Wärtsilä and Gaslog; the two companies have an existing maintenance agreement in force, signed in 2014, which covers seven more vessels.

Improved reliability and cost control

GasLog is a Monaco-based international owner, operator and manager of LNG carriers. The company's fleet consists of 27 LNG carriers, 22 of which are in operation while 5 are on order and will be delivered within the next two years.

"Wärtsilä is a critical contributor to our effort to secure long-term reliability and efficiency of our vessels' operations and to control and maintain respective costs in order to be competitive in the LNG market. We believe that both aspects are addressed in this agreement and we hope to continue improving our co-operation further," says Theofanis Sallis, General Manager Operations from GasLog LNG Services.

Images Caption: GasLog Santiago and GasLog Greece are LNG carriers, which performance data Wärtsilä monitors 24/7.

Media contacts: Kostas Balabanis Manager, Contract Management, Greece & Cyprus Wärtsilä Services kostas.balabanis@wartsila.com Tel.+30 6945 803210 Hanna Viita Director, Marketing Wärtsilä Services hanna.viita@wartsila.com Tel: +358 40 167 1755

Wärtsilä Services in brief Wärtsilä Services provides high-quality lifecycle services that enhance customers' business. Its broad range of services supports both shipping and power generation companies, whenever and wherever needed. Solutions range from spare parts and basic support to ensuring the maximised lifetime, increased efficiency and guaranteed performance of the customer's equipment or installation - in a safe, reliable, and environmentally sustainable way. https://www.wartsila.com/services

Wärtsilä in brief: Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki, Finland. https://www.wartsila.com/