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 | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25Government investigating after test results altered 'to make the fuel consumption data look better'. -
Apr 26The company is looking for candidates with bunker trading professional certifications and at least six years of experience in a similar role.