UK-based maritime clean technology player Silverstream Technologies has revealed that it secured a new order for its air lubrication system to be fitted on 18 new 271,000 cubic meter QC-Max class LNG carriers.
As informed, these will be the ‘first’ LNG carriers of this caliber to be wholly designed, built, maintained, and serviced in China. The vessels will be leased by an undisclosed ‘large’ energy firm and managed by ‘major’ shipping companies.
Speaking about the latest deal, Noah Silberschmidt , founder and CEO of Silverstream Technologies, said: “Surpassing over 200 orders is a significant milestone for us, highlighting the tangible emissions and cost savings we have delivered for shipowners and operators. This achievement also demonstrates the meaningful impact we are making on the industry’s green transition.”
The Silverstream System employs air release units (ARUs) in the hull, generating a layer of microbubbles across the vessel bottom. This minimizes frictional resistance and could lead to a 5-10% decrease in average net fuel consumption and greenhouse gas emissions.
According to the company, across all contracted vessels’ operational lifetimes, the Silverstream system could cut fuel costs by nearly $5 billion for its current customers. It could also reduce CO2 emissions by more than 19 million tonnes .
Growing decarbonization efforts have driven the need for vessel fuel efficiency due to regulatory and market pressures. LNG carriers could also become non-compliant with the IMO’s Carbon Intensity Indicator (CII) framework. This is mainly due to their boil-off gas management.
Moreover, the EU’s Emissions Trading System (ETS) is introducing a progressive cost to emissions. Shipping companies will only have to surrender allowances for a portion of their emissions, namely:
As it is suitable for retrofitting and newbuilds, the Silverstream system might play a triple role. Specifically, as understood, it could cut fuel consumption, reduce emissions and potentially lower compliance costs.
Silverstream’s current orderbook includes 57 LNG carriers, spanning 9 vessel segments. In June 2024, the company received a contract to install its air lubrication system for a new Carnival Cruise Line’s Excel-class cruise ship.