Asia/Pacific News
Large LNG Carrier Order Takes Silverstream Past 200 Air Lubrication System Sales
Engineering company Silverstream Technologies has moved past 200 orders of its bunker-saving air lubrication systems after a large deal to fit them on board LNG carriers.
The company has signed a deal to equip the systems on 18 new LNG carriers to be chartered by a global energy company and operated by shipping majors, it said in an emailed statement on Tuesday.
Silverstream's orderbook now includes 57 LNG carriers, and more than 200 air lubrication systems have been ordered in total. 82 of its systems are currently in use on board existing ships.
The company estimates that these systems will save its current customer base almost $5 billion in fuel costs over the lifetime of their ships.
Silverstream's air lubrication system cuts ships' bunker consumption by 5-10% by introducing air bubbles between the hull and the surrounding water, reducing friction.
Fuel-efficiency technologies of this type are rapidly gaining in prominence in the shipping industry as companies seek to reduce fuel bills and their emissions ahead of tougher environmental regulations. Clarksons estimates about 33.5% of tonnage in the global fleet is now fitted with some form of energy-saving device.
"Surpassing over 200 orders is a significant milestone for us, highlighting the tangible emissions and cost savings we have delivered for shipowners and operators," Noah Silberschmidt, CEO of Silverstream, said in the statement.
"This achievement also demonstrates the meaningful impact we are making on the industry's green transition."
