World News
New Vote of Confidence in Fuel-Saving Air Lubrication Systems
The designers of fuel-saving air lubrication systems for ships have been given a boost with a large new order from a South Korean shipyard.
Hyundai Heavy Industries has ordered Silverstream Technologies' air lubrication systems for eight LNG carriers under construction in South Korea, Silverstream said this week.
Air lubrication works on the principle of keeping a bubble of air beneath the ship, reducing friction between the water and the hull and improving fuel efficiency. Silverstream has previously said its systems can deliver fuel consumption savings of about 4% for cruise ships and up to 8% for larger vessels.
The order demonstrates the current high level of interest in fuel-efficiency measures from the shipping industry. Improving fuel efficiency would be one of the easier ways for the shipping industry to make progress in cutting its greenhouse gas emissions to meet the International Maritime Organization's targets.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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