LIFECYCLE EFFICIENCY A WAY TO ENHANCE YOUR BUSINESS

Transcription

1 LIFECYCLE EFFICIENCY A WAY TO ENHANCE YOUR BUSINESS Lifecycle efficiency is a business approach that aims to improve profits by getting the best and longest use out of installations. Wärtsilä has identified three areas that are key success factors for optimising lifecycle efficiency: preventing the unexpected, optimising performance and improving environmental efficiency. Contents Business benefits of improving lifecycle efficiency... 2 Preventing the unexpected... 4 Performance optimisation... 8 Environmental efficiency Improving lifecycle efficiency WÄRTSILÄ SERVICES BUSINESS WHITE PAPER LIFECYCLE EFFICIENCY

2 BUSINESS BENEFITS OF IMPROVING LIFECYCLE EFFICIENCY Lifecycle efficiency can be defined as the relation of profits to costs measured over the entire lifecycle of an installation. The term lifecycle refers to everything from planning, building and commissioning to operation and finally decommissioning. Lifecycle efficiency starts with a good design, the operation of which is then managed in a way that minimises its operational costs and maximises its operational lifetime and, consequently, its profitability over the entire lifecycle. Lifecycle efficiency getting the best and longest use out of installations Planning Superior design Building and commissioning Minimized operational costs Operation Decommissioning Maximized operational lifetime PROFITABLITY MAXIMAZATION OVER THE ENTIRE LIFECYCLE But why is lifecycle efficiency such a big issue right now? There are several trends that have been emerging for some time now, and are increasingly impacting businesses all over the world. Competition is tougher and more global than ever, profitability expectations have risen, environmental regulation is increasingly stringent, finding just the right competences is challenging, and demand for expert support is growing due to increased complexity and technological development. At the same time, operating costs keep getting higher, especially fuel prices. Digitalisation is changing industrial services and enabling efficiency improvements through new types of real-time and knowledge-based solutions. Market drivers lead to specific needs Market drivers Focus on total cost of ownership Development of installed base and installation utilisation Growth of gas as a fuel in shipping and in power generation Changes in environmental regulations and safety requirements Outsourcing of operations and maintenance Accelerating technological development and need for real-time information Need for technical expertise Customer needs Improved efficiency Reduced expenses Better cost predictability through operational efficiency Compliance with environmental legislation Guaranteed performance Secured revenue through reliability Risk management Asset management in the most optimal way Lifecycle cost guarantee 2

3 Running costs are increasing According to a recent report, total annual operating costs in the shipping industry have increased % in ten years. Source: Moore Stephens: OpCost 2011 Benchmarking vessel running costs, December OpCost indices Index points Bulker Tanker Container Year PERFORMANCE OPTIMISATION Lifecycle efficiency ENVIRONMENTAL EFFICIENCY THE UNEXPECTED PREVENTING The three dimensions of lifecycle efficiency When aiming to improve lifecycle efficiency, there are three main areas to consider: preventing the unexpected, performance optimization and environmental efficiency. These are all business critical issues that companies have to solve in order to get the most value out of their assets over the lifecycle. A lifecycle approach enhances business by minimising risks and improving reliability and cost predictability through efficient operation and optimal asset management. Looking at the three dimensions of lifecycle efficiency, we can see that preventing the unexpected is about minimising operational and economic risks, and performance optimisation focuses on getting the most out of the asset with optimal cost structure. Environmental efficiency has a direct connection to operational efficiency through e.g. more efficient use of fuel, and with ever more stringent environmental legislation, regulation compliance has also become a key lifecycle efficiency issue. The many rewards of lifecycle efficiency Performance optimisation Optimized fuel economy Optimized maintenance costs Maximized operational performance Improved overall business performance Long-term value creation PERFORMANCE OPTIMISATION Lifecycle efficiency ENVIRONMENTAL EFFICIENCY THE UNEXPECTED PREVENTING Preventing the unexpected Safe and reliable operations Maximized uptime Predictable costs Ensured performance Minimized risks Environmental efficiency Lower emissions Greater efficiency Complying with legislation globally and locally Minimized environmental footprint Enhanced reputation 3

4 PREVENTING THE UNEXPECTED ENSURING PERFORMANCE AND MINIMISING RISKS PERFORMANCE OPTIMISATION ENVIRONMENTAL THE UNEXPECTED PREVENTING Reliable, continuous performance and predictable costs throughout the entire lifecycle of an installation are essential for sustaining a profitable business. The unexpected can be very expensive, so preparing and planning ahead to avoid unexpected interruptions is a key element of a lifecycle approach. EFFICIENCY Preventing the unexpected is a matter of planning and conducting maintenance and operations in a way that maximises uptime. It is an on-going process. Irregular and unplanned actions do not guarantee performance, since they are reactive. By systematically ensuring the continuous performance of an installation, risks can be minimized and major savings in operating expenses achieved. Usually the best strategy is to establish a long term partnership with a capable OEM service provider that has a thorough knowledge of the equipment and can offer reliable access to OEM spare parts, maintenance services and technical support. Taking the guesswork out of the equation Condition based preventive maintenance is the best means of ensuring that unexpected and changing situations don t hinder performance. Conventional equipment maintenance schedules are strictly based on running hours instead of the actual condition of the equipment. In contrast, a system of condition based maintenance that relies on continuous monitoring makes it possible to accurately predict the actual condition of the engines, thrusters, motors, pumps, electrical equipment etc. and adapt servicing schedules accordingly. Dynamic maintenance increases the total availability of an installation by allowing the number of unplanned stops to be reduced significantly. The goal is to find more than 90% of critical issues 7 30 days in advance, and to predict more than 90% of the required maintenance 2 6 months in advance. Source: Wärtsilä Digitalisation enhances maintenance planning When the condition and wear of the installation is monitored and always known, trends and changes in operating parameters can be identified well before they might compromise the performance of the installation. Maintenance planning can then be dynamically based on actual need rather than a set schedule. This dramatically improves cost-effectiveness as maintenance intervals can be extended and spare parts consumption reduced. A key element of continuous monitoring is the collection of operating data, and its analysis. A huge amount of data is accumulated in digital form, processed and stored for future analysis. Modern digital solutions greatly enhance condition based maintenance, allowing remote access to operating data when appropriate and making the best expertise available at all times and locations. 4

5 Average share of spare parts of the total operational expenditure in the marine industry: 5 15%* Lifetime of an OEM quality spare part compared to non-oem part: up to 50% longer Cumulative savings in maintenance costs over a 10 year time span through combined use of remanufactured and new parts: up to 20% * Depends on e.g. vessel type and scope of spare parts included. Source: Moore Stephens, OpCost 2011 Benchmarking vessel running costs, December 2011; V.Ships, Opex The Ship Management View presentation, 2012 Machines can not, however, be a substitute for human expertise. Data only becomes valuable information through analysis and interpretation by an experienced expert, who can put it into the right context and understand the particular installation s operating conditions and requirements. In the future, algorithms formed by experts will allow more automatic data analysis, thus increasing scalability and enabling real-time responses. Putting the maintenance plan into action: spare parts and expert field services An installation should continue to deliver optimum performance throughout its entire lifecycle. That s why new and old installations should all be managed in a modern way, using parts that are of the latest applicable standards and specifications. An important, although often overlooked, element of ensuring reliable operation is the use of OEM spare parts. The risk for breakdowns can grow if non-oem quality parts are used. Thoroughly checked and tested OEM spare parts that comply with major quality standards and authority regulations are the most competitive choice in the long run. On-going research and development by the OEM ensures that customers get the latest applicable parts and ensured reliability. Building a strategic partnership with an established service provider is an efficient way to ensure global availability of services and spare parts. When the partner has a global network of service centres, workshops and service professionals, it can help prevent problems before they occur and respond immediately when help is needed. And, if the unexpected does happen, necessary actions can be taken at a moment s notice. Building partnerships with service providers A modern service solution is flexible: it changes, grows or conforms when requirements change. It is also responsive: if the unexpected happens, your needs and emergencies are responded to quickly. Traditional Service Offering Flexible Service Solutions Standard services Static Based on service provider s processes Each party advances its own interests Measured only by smoothness of process Slow and reactive Short-term operations Flexible co-created solutions Scalable Based on client s needs Based on shared goals Success measured by clients business objectives Fast and proactive Long-term operations 5

6 Perfect maintenance timing guarantees operations and decreases costs Wärtsilä s dynamic maintenance plan (DMP ) is an example of a modern service solution. It is a flexible maintenance schedule designed to extend maintenance intervals and reduce spare parts consumption. Fuel consumption is maintained on normal level with keeping ideal running conditions and achieving savings in maintenance costs. Reliability increase due to constant follow up of running parameters and inspections. Unplanned stops can be reduced to a level of just 5% as opposed to a conventional schedule. Approximately 20% less working hours lost through waiting for spares or tools. EUR Yearly cost, traditional maintenance schedule Yearly cost, DMP maintenance schedule A standard schedule compared with an optimized schedule for the maintenance of dual-fuel engines for LNG vessels using the Wärtsilä dynamic maintenance planning system. (Source: Wärtsilä Services Studies, 2012) 6

7 BUSINESS CASE: ROYAL CARIBBEAN CRUISES The core of this agreement is that Wärtsilä will take care of the maintenance that needs to be done on the ship engines so that we can concentrate on our core business, which is looking after cruise guests. Harri Kulovaara, Executive Vice President, Maritime Royal Caribbean Cruises Ltd. The maintenance support agreement between Wärtsilä and Royal Caribbean Cruises Ltd. is the most extensive maintenance and technical support partnership Wärtsilä has ever formed with a marine customer, covering 29 cruise ships with 118 Wärtsilä engines with a total output of approximately 1400 MW. With such a big fleet, careful and systematic maintenance planning is needed to ensure reliable and predictable operation. Extensive use of Wärtsilä s Condition Based Maintenance (CBM) engine monitoring systems enables monitoring the performance of individual engines online anywhere in the world, leading to improved predictability, a higher ship utilization rate and improved fuel economy. BUSINESS CASE: SOUTH TEXAS ELECTRIC COOPERATIVE Wärtsilä engine technology has proven to be very effective at meeting the challenges of a dynamic ERCOT (Electric Reliability Council of Texas) market. We are very pleased to work with Wärtsilä on our Red Gate Power Project. John Packard, Manager of Generation, South Texas Electric Cooperative In December 2012 Wärtsilä signed the contract to engineer and supply a large 225 MW power plant to help South Texas Electric Cooperative (STEC) meet the growing demand for electricity in South Texas. The natural gas fuelled power plant is designed to meet BACT (Best Available Control Technology) pollution standards as mandated by the United States Clean Air Act. A maintenance agreement was also signed between STEC and Wärtsilä to ensure optimised maintenance for long-term plant availability, reliability, and efficiency. The agreement provides a number of benefits, including technical and operational assistance with maintenance planning, technical advisors, spare parts, and an on-site inventory. 7

8 PERFORMANCE OPTIMISATION IMPROVING EFFICIENCY WHILE REDUCING EXPENSES PERFORMANCE OPTIMISATION THE UNEXPECTED PREVENTING Optimisation is the keyword when improving lifecycle efficiency. By knowing and fully understanding the operating equipment and procedures, it is possible to optimise performance in all areas for increased output, lower costs, and reduced maintenance requirements. ENVIRONMENTAL EFFICIENCY Every operating process is unique. To achieve maximum efficiency it is often necessary to customise the equipment to meet the specific needs of the process, and perform upgrades to meet evolving process requirements. A change of ambient conditions can be enough to necessitate revised tuning to ensure optimum results. More significant alterations may be necessary when the installation s mission profile is changed, or when a plant is relocated or a vessel converted to a completely new use. Even the entire purpose of the vessel or plant may change during the lifecycle. When performance is optimised in all phases of an asset s lifecycle, the total cost of ownership can be optimised. Longer-term efficiency-increasing strategies reduce operational expenses and improve business efficiency by increasing availability. To reduce the total cost of ownership, it is important to understand all the phases of the lifecycle, and to identify all opportunities for improving efficiency. Analysis of the total cost of ownership is a financial estimate Calculating Total Cost of Ownership Source: Wärtsilä Total Cost of Ownership TCO = C d + C nb + C o +C c + C no + C r The TCO formula contains the following components: C d = Cost of development, including cost of engineering, planning and documentation. C nb = Cost of new building, including building, testing, training and technical support. C o = Cost of operation, including operating personnel, energy and fuel, maintenance, facility costs, support, environmental costs and costs of down-time. C c = Cost of conversion, including development and upgrades or retrofits, planning and documentation. C no = Cost of new operation, including operating personnel, energy and fuel, maintenance, facility costs, support, environmental costs and costs of down-time. C r = Cost of recycling, including costs of disposal. 8

9 of all costs direct and indirect of acquiring, commissioning, operating, maintaining and disposing of a product or system for a specified period of time. The analysis should be done in relationship to all returns during all phases of the total lifecycle of an asset. It is essential to create a balance between capital expenditure (CAPEX) and operational expenses (OPEX), as well as risks and rewards of investments, so that the total cost of ownership is optimised. Knowing where to invest and where to save is a key factor in strategies geared towards optimisation. Performance optimisation involves a number of critical factors 1. Where are the biggest opportunities for efficiency improvements? 2. Where to invest, where to save? 3. How to reduce operational expenses? 4. How to ensure optimal operating costs? 5. How to ensure optimal performance? Optimizing performance in the marine industry To optimize performance, many marine players are looking for ways to improve efficiency. Improving a vessel s energy efficiency can bring significant competitive advantages. There are several ways to achieve this through the use of already existing technologies, such as more efficient engines and propulsion systems, as well as improved hull designs and larger vessel sizes. Today, with steeply climbing fuel prices, the marine industry is finding the question of fuel efficiency more pressing than ever. As the share of fuel costs of the total operating costs is on average roughly 75%, improving fuel efficiency is the most effective and most feasible way to achieve savings in operating costs. There are several ways to improve fuel efficiency. To ensure that the engine always runs optimally, a condition-based maintenance system can be implemented instead of the traditional hour-based way of scheduling maintenance. Engine and propulsion system performance can be optimised for changing requirements or upgraded to utilise the latest technologies. Engines can also be converted to be able to use different fuels, including gas. Natural gas is becoming an attractive alternative in the marine industry, due to its economic and environmental benefits. An example of optimisation for a modified operation profile is a vessel with reduced operational speed. Here, a CPP propulsion system modernisation can achieve up to 9.5% in fuel savings within as few as 4,000 running hours for cruise, ferry and container ships, so a return on investment in one year is possible. Power plant modernisations and gas conversions Up-to-date systems are essential for safe and reliable operation. Significant savings can often be achieved by upgrading the installation to meet modern standards. Control and automation systems are a critical area where regular updates are needed to ensure continuously efficient operation. Typically these systems have a lifecycle which is half of the mechanical equipment. Due to obsolescence and shorter lifecycles of electronic components, systems that are just years old may not meet today s requirements. In power plant installations, the economic viability of gas is becoming ever more apparent. At the same time, emission issues related to the use of liquid fuels are becoming more complex. Not surprisingly, therefore, the use of gas to generate power is rapidly increasing. There are a number of reasons why a gas conversion makes sense. Such needs can be everything from emphasising the green image of the company, 9

10 to purely economic reasons. However, in the majority of cases, the main drivers for converting to gas are the significant emission reductions, the consequentially reduced fees, and the reductions in fuel costs, i.e. fuel efficiency. Wärtsilä offers three gas conversion concepts for engines SG (spark-ignited) gas-only engines DF (dual-fuel) engines capable of burning most fuels e.g. HFO (heavy fuel oil), LFO (light fuel oil) and natural gas GD (gas-diesel) engines that can run on HFO, LFO, crude, natural gas and associated gas Considerations about power plant performance optimization typically start with a site audit or inspection. A site audit will give a more accurate scope of work, detailing what can be done at any specific installation. The alternatives can range from upgrading engines, auxiliaries or electrical & automation systems to installing entire heat recovery systems. Example of a power plant gas conversion feasibility study Setup Engine model: W46 Cylinder configuration: V18 Frequency: 50Hz Number of engines: 5 Annual running hours: 7200h Fuel type: HFO Cumulative fuel and maintenance cost savings EUR for 5 years n Spark Ignited: 82.5M n Dual Fuel: 81.6M n Gas Diesel: 57.9M Source: Wärtsilä value calculations

11 BUSINESS CASE: EDEN YUTURI Thanks to Wärtsilä s multi-fuel technology, associated gas can be converted to electricity instead of being continuously flared into the atmosphere. This has increased the net crude oil production by an average of one well without having gone through the drilling process. PETROAMAZONAS EP, Ecuador The conversion of the Eden Yuturi power plant, owned and operated by Petroamazonas EP and located in the Ecuador Oriente jungle, from crude oil fuelled to associated gas fuelled operation enabled PAM to utilise the associated gas that was being flared. Four 18-cylinder Wärtsilä Vasa 32 low NOx gas (LNGD) engines in V-configuration generating MW of power were converted using technology with a unique fuel flexibility, permitting the engines to run on any combination of liquid fuel and associated gas. By using the previously flared gas for power generation, PAM expects to save up to 640 barrels of crude oil per day and over 1Mt of CO2 emissions over a period of 10 years. BUSINESS CASE: TALLEY S SHIPPING When our vessels go out for up to six weeks at a time, the fuel consumption is significant. Wärtsilä guaranteed that the upgrade would increase the efficiency of our vessel, and indeed it did. Andy Smith, Operations Manager, Talley s Group Talley s Group Ltd of New Zealand was looking for a way to increase their fishing vessel s efficiency both for trawling and free sailing. Wärtsilä proposed a solution where the original 19A nozzle would be replaced by a high efficiency HR nozzle. This, in combination with new propeller blades, would count for an efficiency gain of approximately 5 per cent for both free sailing and trawling. Carried out in 2012, this was the first propulsion improvement package installed on a fishing vessel in the Australasia region. After a year with the improved propulsion system, Talley s confirmed benefits such as clear fuel savings and less vibration in the vessel. Wärtsilä s performance guarantees were reached and even exceeded, with an estimated efficiency increase of above 7 per cent. 11

12 ENVIRONMENTAL EFFICIENCY BALANCING ENVIRONMENTAL LEGISLATION COMPLIANCE AND ENERGY EFFICIENCY PERFORMANCE OPTIMISATION ENVIRONMENTAL EFFICIENCY THE UNEXPECTED PREVENTING With more stringent environmental regulation and growing environmental consciousness among customers and other stakeholders, compliance is a key issue for both the marine and power industries. Environmental efficiency should not, however, be seen just as a question of compliance. Reducing emissions and environmental impact is an important goal in itself. Done correctly, environmental efficiency can also be an important source of competitive advantage through improved fuel economy. Environmentally efficient solutions not only reduce emissions and environmental impact, but often also improve fuel economy. Integrating environmental issues to business strategies can lead to considerable competitive advantages. Improving environmental efficiency will also improve the operational efficiency of an installation through lower fuel costs and reductions in other fees. This can be seen as a two-way relationship: reducing the environmental footprint helps improve energy efficiency, and vice versa, improving fuel efficiency also helps reduce the environmental footprint. Ensuring regulatory compliance Compliance with environmental legislation and regulations both locally and globally can be a challenge. The jungle of regulations is so dense and the pace of change so fast that outside assistance is needed to ensure compliance. It is therefore essential to work with partners who truly understand regulatory activities both globally and locally, and who can tailor their service solution accordingly. Compliance with regulation can be a source of competitive advantage through enhanced reputation among customers and other stakeholders, as well as securing uninterrupted operation. A knowledgeable partner is able to offer solutions that are not only optimized according to the current situation, but are also optimized according to future demands in terms of both environmental and operational efficiency. Keeping installations environmentally fit Whatever means are used to comply with environmental legislation, they must be cost-effective and easy to implement. They need to provide long-term, reliable solutions that don t interrupt operations. Such solutions for the power and marine industries need to cover the reduction of different air emissions (NOx, SOx, CO, VOC) either by reducing the formation of these in the first place, or by dealing with them after they have been formed in the engine. Management of waste and other water, like ballast water in ships, is also critical. The possibility of oil spills from stern tube seals and bearings has become a concern in many areas. Oil-to-water conversions offer a way to prevent these. 12

13 Environmental efficiency brings savings in fuel costs An IMO-commissioned study* into the impact of energy efficiency measures for international shipping shows that significant reductions of greenhouse gas (GHG) emissions from ships, specifically reductions of carbon dioxide (CO2) resulting from enhanced fuel efficiency, will be reached. According to the report, savings in fuel costs for the shipping industry will be significant, but this requires investments in more efficient ships and more sophisticated technologies, as well as new practices. Amongst the key findings, the report found that Implementing the IMO mandated energy efficiency measures will result in average annual reductions in CO2 emissions and fuel consumption of 13% and 23% by 2020 and 2030 respectively. The estimated reductions in CO2 emissions, for combined Energy Efficiency Design Index (EEDI) and Ship Energy Efficiency Management Plan (SEEMP), from the world fleet translate into a significant annual fuel cost saving of about US$50 billion in 2020 and about US$200 billion by 2030, calculated using fuel price increase scenarios that take into account the switch to low-sulphur fuel in *Assessment of IMO mandated energy efficiency measures for international shipping

14 BUSINESS CASE: ARCTIA OFFSHORE Our icebreakers can now operate sustainably in the Arctic Ocean. Thanks to Wärtsilä s technology for exhaust gas cleaning, our vessels are able to continue their sustainable heavy machinery operations in this sensitive environment. Arctia Offshore Arctia Offshore contracted Wärtsilä to install emission reduction systems on board MSV Fennica and MSV Nordica multipurpose icebreakers in The vessels needed to be able to operate sustainably in sensitive arctic locations, and emissions (NOX, PM, CO and VOC) had to be below the IMO Tier III regulations. Furthermore, any modifications done on board the vessels were not allowed to impair the capabilities of the multipurpose icebreakers. After a throrough examination, a two catalyst layer Wärtsilä NOR system with an integrated oxidation catalyst layer in the reactor was installed for each engine. This was the first turnkey NOR retrofit on arctic vessels, and emission tests performed by an accredited third party after the completion of the project showed that levels were clearly below the IMO Tier III regulations. BUSINESS CASE: EIT PALMIA & PALOMA With qualified engineering and service personnel, Wärtsilä wiped out the seal as an unstable element from our problemsto-solve-list. The vessels are now operating to our complete satisfaction. Robert Fowler, EIT Following the tail shaft removal due to damaged original vessel equipment, European Investment & Trading, the owners of EIT Palmina and EIT Paloma decided on a retrofit with a Wärtsilä Environmental Solution. The water lubricated Wärtsilä Enviroguard Stern Seals and Wärtsilä Envirosafe Composite Bearings were chosen because they offer a low risk, fully proven solution with a lower lifecycle cost. To ensure the vessels were available for operation, a very fast delivery time was required. Wärtsilä was able to meet the tight schedule successfully. 14

15 IMPROVING LIFECYCLE EFFICIENCY FROM CO-OPERATION TO PARTNERSHIP Strategies for improving lifecycle efficiency are realised only when they are fully integrated with operations. Cooperating with the right partners is essential. The best way of improving lifecycle efficiency is by building a partnership with an experienced service provider. The following issues should be considered in order to ensure that a partner is able to both add value in the long term and react quickly to changes and needs in the short term. Is the partner a total solutions provider? A total solutions provider can offer full service from design and construction to full lifecycle services globally for the entire installation. Customised service agreements are an efficient way to ensure reliable operations and predictable costs. Can the partner offer global service? A global partner can offer full service support whenever and wherever needed. If I need parts or repairs, how long will I have to worry about downtime? A committed service partner provides OEM spare parts available to be dispatched at the client s need. Specialized maintenance crews will complete the installation of parts anywhere. Is the partner able to make recommendations on where to invest and where to save? By knowing and fully understanding the operating equipment and procedures, it is possible to increase efficiencies and lower costs. Knowing where to invest and where to save is a key factor in strategies geared towards optimisation. Is the partner able to identify the total cost of ownership? An important part of improving lifecycle efficiency is to identify the true costs of the operating equipment. When analysing the total cost of ownership, primary considerations include fuel costs, maintenance requirements and the life expectancy of the equipment. Does the partner offer comprehensive and customised solutions? Every operating process is, to some extent, unique. Also, conditions and requirements can change during the lifecycle. To achieve maximum efficiency, it is often necessary to customise or upgrade the equipment. Can the partner help minimise risk? Lifecycle cost guarantees and performance guarantees reduce operating and capital expenditures, leading to cost savings, reliable operations and less downtime. Can the partner offer to keep installations environmentally fit? Long-term environmental solutions not only meet the current requirements, but can also prepare the operation for future needs. And the most important question: Does the partner share your goals? A service company should take responsibility for enhancing its client s business operations. In a good partnership one that is truly beneficial to both parties all parties work towards the same goals instead of striving for competing interests. Service agreements, that can range from simple spare parts delivery contracts to comprehensive asset management solutions, are an effective way of improving lifecycle efficiency through a partnership with common goals. 15

16 Wärtsilä Services Optimising customer operations whenever, wherever is our shared passion. We provide the broadest portfolio and the best services in the industry for both shipping and power generation. We offer expertise, proximity and responsiveness for all customers in the most environmentally sound way. For more information visit Want to know more? Please contact us: Wärtsilä Corporation All rights reserved No part of this publication may be reproduced or copied in any form or by any means (electronic, mechanical, graphic, photocopying, recording, taping or other information retrieval systems) without the prior written permission of the copyright holder. Neither Wärtsilä Finland Oy, nor any other Wärtsilä Group Company, makes any representation or warranty (express or implied) in this publication and neither Wärtsilä Finland Oy, nor any other Wärtsilä Group Company, assumes any responsibility for the correctness, errors or omissions for information contained herein. Information in this publication is subject to change without notice. No liability whether direct, indirect, special, incidental or consequential, is assumed with respect to the information contained herein. This publication is intended for information purposes only. 16