World News
Silverstream Signs Deal With Mitsui & Co and Orient Marine to Promote Air Lubrication Systems
Maritime engineering firm Silverstream Technologies has signed a deal with Japan's Mitsui & Co and Orient Marine to promote the use of its air lubrication systems.
The three companies have signed a memorandum of understanding to promote the uptake of the air lubrication systems, Silverstream said in a statement on its website on Monday.
The systems, first developed several years ago, have shown consistent bunker savings of 5% or more by letting a vessel ride on a carpet of air bubbles that reduces friction between the water and the hull surface.
Read More: How Does a Bunker Saving Air Lubrication System Work? [VIDEO]
Silverstream has now seen about 100 orders of its systems, with the majority of its order intake having been registered in the past two years, CEO Noah Silberschmidt told Ship & Bunker earlier this month.
"The collaboration with Mitsui & Co. Europe Plc. and Orient Marine will also aim to strengthen Silverstream's relationships with local Japanese owners, shipyards and design institutions, as well as advance the company's commercial strategy in the region by securing customer leads and driving opportunity generation," the company said in Monday's statement.
"Additionally, the strategic agreement will allow for intelligence and local market knowledge sharing among the three organisations.
"Deepening Silverstream's ties into the unique Japanese shipping market, as a subset of the Asian market, will enable even greater momentum and uptake of air lubrication technologies as a decarbonisation solution for shipping."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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