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MSC orders 30 air lubrication systems from Silverstream Technologies for large container newbuildings

Expects estimated fuel savings of USD 302.31 million, equivalent to carbon emissions reduction of 1.6 million tonnes, over vessels’ lifecycle, says tech provider.
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Silverstream Technologies on Tuesday (21September) said it has secured more than 30 orders of its air lubrication technology, namely the Silverstream System, from Mediterranean Shipping Company (MSC) for its newbuild large container ships.

The order relates to a substantial portion of MSC’s newbuild pipeline, with a number of the vessels expected to be deployed on the world’s busiest trade lanes between Asia and Europe. 

The technology offers carbon emissions reduction of 1.6 million tonnes, equivalent to the annual emissions of 350,000 cars, over the vessels’ lifecycle.

Over the same period, MSC will see estimated fuel savings of €257.5 million (USD 302.31 million).

Silverstream’s technology has been independently proven to save 5-10% of fuel and emissions by generating a rigid carpet of air bubbles that reduce friction between the hull and the water. 

The system is effective in all sea conditions and has the highest utilisation rate or the proportion of a voyage that it can be activated for of any air lubrication technology on the market. It is also suitable for both newbuild applications and retrofit installations.

The significant order is the single largest installation programme that Silverstream Technologies has ever conducted of its market-leading air lubrication technology, and is a definitive indicator of MSC’s commitment to decarbonisation and the technology as a fuel and emissions efficiency solution. It is also the largest order of air lubrication technology from a single operator to date.

Vessels applying the system are expected to be delivered from shipyards in Asia between 2022-2024.

“This order of more than 30 systems for MSC’s newbuild programme is a landmark moment for both Silverstream and for clean technology adoption across shipping,” says Noah Silberschmidt, Founder & CEO, Silverstream Technologies.

“It is the single largest order of not only our technology, but of any air lubrication technology in the history of our market. We are extremely proud of this achievement and are ready for the challenge of managing our largest ever installation programme at five different shipyards.”

“As one of the undisputed leaders of the container segment, MSC’s trust in our solution shows that proven clean technologies will play a crucial role in tackling the decarbonisation challenge. Once launched, these newbuild vessels will be some of the most efficient container ships on the oceans.”

“We are pleased that our technology will play a central role in setting this high bar for efficiency and that we are further enabled to take another step closer to realising our ambition of air lubrication technology as a standard for all newbuild ships.”

“As part of our significant efforts to further improve our environmental performance, we are continuously on the lookout for new innovative solutions that could help us achieve efficiency gains,” says Giuseppe Gargiulo, Head of Newbuildings, MSC.

“Air lubrication technology is one of the proven technologies that can help ships to achieve fuel savings and reduce energy losses. With the right hull design and the substantial reduction in carbon emissions that the Silverstream System can offer, we’ve found the perfect match to fit our fleet with an effective efficiency solution, and move us closer to a zero carbon future.”

 

Photo credit: Mediterranean Shipping Company
Published: 24 September, 2021

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Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

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July 21, 2026

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Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

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July 21, 2026

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RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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