World News
Production Deal Signed for Fuel-Saving Retractable Bow Foils
Tuesday August 24, 2021
Maritime technology firm Wavefoil has signed a deal to put its fuel-saving retractable bow foil systems into production.
The firm has signed an agreement with Norway-based I P Huse to produce its largest products, Wavefoil said earlier this month.
Wavefoil claims typical fuel savings of 5-15% from its retractable wave foil systems, which can use wave power to supplement a ship's propulsion. Wavefoil is the first firm to make the systems retractable.
"I P Huse has the right expertise and facilities so that we can be sure that customers get a quality product that meets the requirements of the market," Eirik Bøckmann, general manager of Wavefoil, said in the statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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