World News
Smart Green Shipping Wins £5 Million Investment in Wing Sail Technology
Maritime technology firm Smart Green Shipping has received £5 million of investment to develop wing sail technology.
The firm is set to launch a three-year research and development project for its FastRig technology, backed by £3.2 million of private sector investment and a £1.8 million grant from Scottish Enterprise, it said in an emailed statement on Thursday.
The firm plans to deliver a demonstration model on a commercial ship by next year, after carrying out initial tests at a land-based site at Peels Ports Hunterston Port and Resource Centre. The FastRig system can deliver at least 20% in fuel and emission savings, according to the company.
"Scotland's decision to support this project shows that wind technology has the might of a maritime nation behind it," Diane Gilpin, founder of Smart Green Shipping, said in the statement.
"Shipping has a long history of harnessing the power of wind, but digital technologies are allowing us to work towards making zero emission vessels a reality.
"Smart Green Shipping's FastRig wing sail technology offers a financially and technically robust solution to help support shipping's green transition."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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