Press Release: Maritime clean technology leader Silverstream Technologies has today announced multiple orders from the LNG carrier (LNGC) segment for its proven air lubrication technology, the Silverstream® System. This latest raft of orders takes the company’s orderbook in the segment to 36 vessels, representing a combined value of approximately £50 million, highlighting air lubrication’s viability for LNGCs of all sizes.
The orders – which come from major US and UK-based energy companies and Northern European shipowners – will see Silverstream’s ALS installed on 10 LNGCs. Six are for retrofit projects taking place between 2023 and 2025, and four are for newbuilds which will be delivered between 2026 and 2027.
Four of the orders come from an unnamed owner on newbuild 180k cbm LNGCs being built at a leading Chinese shipyard. Another owner has ordered the system for retrofit on two 174k cbm LNGCs, which will take place at either Seatrium – the newly branded shipyard formed by the merger of Sembcorp Marine and Keppel Offshore & Marine – or Navantia, depending on the vessels’ itinerary, during their five-year dry dockings.
Finally, another unnamed owner has signed for retrofit installations of the Silverstream® System on four 160k cbm LNGCs. The installations were contracted via Seatrium and will take place at the yard in the coming months, as the vessels reach their scheduled 10-year dry dockings.
Silverstream’s technology is very well-suited to the LNG segment, as LNGCs have a large flat bottom that maximises ALS’s friction-reducing capabilities. The system reduces average fuel consumption and emissions for LNGCs by 7-10% net, which typically equates to a 1MW net power saving.
The Silverstream® System can also help to reduce LNG boil-off and increase delivered cargo volume, or cut fuel consumption and associated emissions, depending on the operator’s commercial and sustainability priorities. This is because ALS can be used either to enable vessels to travel at higher speeds for the same fuel consumption, or to cut fuel consumption and emissions without sacrificing speed.
It is for these reasons that air lubrication technologies, and particularly the Silverstream® System, have become a standard choice for newbuild LNGCs over the past few years, with retrofit options now rapidly increasing in popularity as well.
Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “We’re extremely pleased at the uptake our system is attracting from the LNG segment, as well as from major energy operators who appreciate our technology’s proven fuel and emissions saving record. The Silverstream® System is a perfect match for LNG vessels, as the natural characteristics of these ships, as well as their operational priorities, mean that air lubrication is one of the only solutions that will enable operators to achieve their efficiency goals here and now.”
Silverstream’s total orderbook now comprises 175 vessels across all shipping segments. The installations will be supported by Silverstream’s team of 120 marine engineers and technical experts. A team of 20 in Shanghai will also provide on-the-ground support for Asian installations of the technology.
Silverstream will be presenting at the Technical Conference at Gastech Singapore 2023. Noah’s session is at 14:30 SGT on Tuesday 5th September, where he will explore the performance of the Silverstream® System onboard the LNGCs that are already utilising the system. Silverstream will also have an exhibition stand at Gastech, in location BC50.