UK-based clean technology company Silverstream Technologies on Thursday (27 July) secured another deal to install its air lubrication technology, the Silverstream® System, onboard eight newbuild liquified natural gas (LNG) carriers being constructed at Hyundai Heavy Industries and Hyundai Samho Heavy Industries in South Korea.
The milestone order reinforces the market maturity and proven environmental and financial savings of the Silverstream® System and further demonstrates the global appeal of air lubrication as one of the most viable clean technologies available within the shipping industry, it said.
Four of the 174,000 cubic metre LNG carriers are owned by leading global operator Knutsen LNG. A further two are owned by investors advised by JP Morgan Asset Management.
The last two vessels are owned by Korea Line Corporation. All of the LNG carriers have secured long-term charter agreements with Shell.
The Silverstream® System will help to increase operational efficiency and reduce fuel burn and associated emissions onboard the carriers, with exceptional net savings expected once the vessels are in operation, it explained.
The system is particularly effective with the hull form and operational profile of LNG carriers, and is suitable for both newbuild and retrofit applications.
“We are delighted to secure this ground-breaking major order of the Silverstream® System. The support shown by the yard, owners, and charterers for our technology in the LNGC sector has been substantial and is hugely encouraging in terms of the potential to support the wider global shipping fleet,” said Noah Silberschmidt, CEO, Silverstream Technologies.
“Working with some of the best known names in the maritime sector is an immense privilege and our expert team of commercial and supply chain professionals, alongside our world-beating naval architects and engineers, are fully focused on installing, testing, and commissioning our System on these vessels – and delivering market-leading efficiency savings once they are in operation.”
Related: MARINTEC – Chinese yard to build fuel saving bulk carrier and VLCC
Related: Grimaldi Group’s advanced Ro-Ro vessels to utilise air lubrication
Photo credit: Silverstream Technologies
Published: 28 July, 2020
With ten other industry leaders, it aims to unite startups and industry players to test transformational technologies that reduce CO2 emissions.
Length of Aranda will be extended by seven meters to 66 meters as part of several upgrades.
MPA and PoR have been working together in key areas such as maritime cybersecurity, LNG bunkering and Next Generation Vessel Traffic Management Systems.
Sinanju Tankers Holdings, Sentek Marine & Trading and Global Energy Trading among bunkering firms to enter MOU.
My Fuel Consumption tool helps shipowners comply with new regulations for energy efficiency management.
The newbuildings also will be fitted with solar panels and scrubbers and emit zero emissions in port.
Sukumar Verma, Managing Director at Informa Connect Singapore, explains how the world’s largest bunkering event will be virtually carried out between 6 to 8 October 2020.
David John Kidd amassed losses of over SGD 1 million to Lukoil Asia Pacific Pte Ltd through multiple irregular trades with Transocean Oil over a four-month period in 2016.
Helmsman LLC lawyers discuss pausing of LC payment, what it means for parties buying ships from companies of a group affected by fraud allegations, and trafficking in spent bills of lading.
Beluga Asia has entered into a Memorandum of Agreement with Sun Marine Corporation to acquire bunker tanker M.T. MA Veronica for USD 2.45 million.
Listing of Brightoil’s shares on the Stock Exchange was cancelled on 16 March 2020, according to a written Judgement of Russell Coleman, a Judge of the Court of First Instance.
‘To this end, the Bank has shown there are grounds for suspecting the CIA Contract may be a sham / fake contract and/or was not performed,’ said CMB’s submission to the Singapore court.
