Air lubrication specialist Silverstream Technologies has signed a Memorandum of Understanding (MoU) with leading shipbuilding group Hudong-Zhonghua, a subsidiary of the China State Shipbuilding Corporation (CSSC) – China’s largest shipbuilding group and the second largest shipbuilder in the world.
The MoU will see Silverstream’s air lubrication technology integrated into the hulls of Hudong-Zhonghua’s new build LNG carriers in order to reduce fuel costs and emissions by around 8%.
“We are delighted to have signed this landmark agreement with Hudong-Zhonghua,” says Noah Silberschmidt, CEO of Silverstream Technologies. “It's a significant step for us as we expand into a new vessel class, and grow our customer base in the important Asian market.”
The signing of the MoU follows 12 months of in-depth discussions between the two organizations.
“We are committed to bringing to market the most operational and energy efficient new build vessels for the LNG sector,” says Danping Lou, chief technical officer, Hudong-Zhonghua Shipbuilding.
“In working closely with Silverstream over the past year, we have seen the real attributes of air lubrication technology – and it was clear that incorporating it into the designs for our new build LNG vessels, in conjunction with other measures, would deliver optimum performance.
“We are confident these new vessels will set the benchmarks for vessel design and performance in the LNG sector.”
The UK Government’s Department for International Trade played a pivotal role in bringing the two companies together.
“Asia is the world’s largest shipbuilding market, and combined with the UK’s pedigree for maritime innovation creates the foundation to create new technologies and ship designs that meet the sustainability challenges that the shipping industry faces,” says Lei Cullinan, Head of Marine China, Department for International Trade.
“This agreement between Hudong-Zhonghua and Silverstream is evidence of this, and highlights the opportunity to continue to drive progressive and positive change.”