Silverstream Seeks to Boost Greek Sales of Bunker-Saving Air Lubrication Systems

The company has signed an agency agreement with technical services provider Franman to support sales of its systems in Greece. Image Credit: Silverstream Technologies

Engineering firm Silverstream Technologies is seeking to boost sales of its bunker-saving air lubrication systems to Greek shipowners.

The company has signed an agency agreement with technical services provider Franman to support sales of its systems in Greece, it said in an emailed statement on Monday.

Franman will act as Silverstream's representative in the Greek market, using its established relationships within the local shipping community.

"Influential shipowners, shipyards, design institutions, class authorities, charterers – the Greek shipping community has it all," Noah Silberschmidt, CEO of Silverstream, said in the statement.

"That's why we're delighted to sign this agreement with the Franman team to drive the uptake of our technology in this key market and to continue to build deep relationships in Greece.

"With decarbonisation regulations tightening and carbon markets becoming a reality, now is the time to adopt the proven Silverstream System to cut fuel costs and carbon costs."

Air lubrication systems insert bubbles of air between the bottom of a ship's hull and the surrounding water, reducing friction and cutting fuel consumption as a result. Energy-efficiency technologies of this kind are rapidly becoming the norm for new ships as shipping firms seek both to reduce emissions and fuel bills, and their profitability is likely to rise further once the industry is using much more expensive alternative fuels.

Silverstream's systems are currently in service on 50 ships, with another 180 orders on the way.