Silverstream Technologies, makes of air lubrication technology for the shipping industry, signed a contract with a major cruise line to retrofit its proprietary Silverstream System on one of its vessels. The Silverstream System will be retrofitted onto the vessel in 2017. Extensive performance analysis of data from Silverstream’s original sea trial funded by Shell confirmed consistent net efficiency savings in excess of 4% and up to 8% for larger vessels.
“There is a real demand from the cruise sector for clean technologies that are cost effective, easy to implement and operate, and deliver the efficiency benefits that are claimed," said Noah Silberschmidt, CEO Silverstream Technologies. "Cruise operators are under increasing pressure to improve their sustainability, as well as reduce fuel consumption and their environmental impact. This new contract represents the confidence that the sector has in the Silverstream System as a viable technology that helps them to meet these challenges, as well as delivering a fast return on investment.”
The Silverstream System is an air lubrication technology which can be installed to both newbuilds and retrofits, even during a short dry docking. Critically, the technology does not take up a significant amount of space, which impacts revenue generation.
“MARPOL Annex VI regulations, which will see the global sulfur limit in fuels reduce to less than 0.5%, will be implemented in 2020, and will have a significant effect on fuel bills for cruise operators, who also transit the 0.1% Emission Control Areas," said Silberschmidt. "Leveraging any solution that can reduce their fuel consumption is critical to maintaining profitability and continuity. Clean technology is one of the best ways to deliver this, and we are delighted that the hard work and investment that has gone into developing the Silverstream® System as one of the industry’s most viable and proven solutions is coming to fruition.”