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Qatar Shipyard Technology Solutions Signs Air Lubrication Deal
Qatar Shipyard Technology Solutions has signed a deal with Armada Technologies seeking to develop the market for air lubrication systems.
Under the memorandum of understanding, the two firms will pursue opportunities to incorporate Armada's Passive Air Lubrication Systems on vessels owned by the Qatari firm's customers, Qatar Shipyard Technology Solutions said in a statement on its website on Monday.
Armada will provide technical and commercial support.
"We are excited to partner with Qatar Shipyard Technology Solutions to drive the adoption of PALS in the maritime industry," Alex Routledge, CEO of Armada Technologies, said in the statement.
"By combining our expertise in air lubrication systems with Qatar Shipyard Technology Solutions' extensive network and reputation, we can make a significant impact in reducing the environmental footprint of vessels while also improving their operational efficiency."
Air lubrication system cuts ships' bunker consumption by introducing air bubbles between the hull and the surrounding water, reducing friction.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 579.00 | 12.50 | 633.00 | 0.00 |
| Rotterdam | 520.50 | 4.50 | 619.50 | 9.00 |
| Houston | 507.00 | 1.50 | 636.50 | 2.00 |
| Fujairah | 567.50 | 10.00 | 763.50 | 5.00 |
| Global 20 Ports Average | 591.00 | 6.50 | 726.00 | 2.50 |
| Global 4 Ports Average | 543.50 | 7.00 | 663.00 | 3.50 |
| Global Average Bunker Price | 635.50 | 8.00 | 803.50 | 2.50 |
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