Maritime clean technology Silverstream Technologies has reached over 200 orders for its air lubrication system after a large deal to install it onboard LNG carriers.
The company will install the Silverstream® System onboard 18 new 271kcbm “QC-Max” class LNG carriers, which will be chartered by a global energy company and owned and operated by shipping majors, it said in an announcement on Wednesday.
The system is suitable for both retrofit and newbuild installations.
Silverstream’s orderbook now includes 57 LNG carriers, whilst 82 of its systems are in operation onboard the existing fleet.
The company estimates that these systems will save its current customer base almost $5bn in fuel costs over the total lifetime of all contracted vessels.
According to Clarksons data, at least 33% of the world’s ships are fitted with a form of energy saving device by gross tonnage, but the number of vessels is only 8700, compared to a global fleet of 110,500.
“Surpassing over 200 orders is a significant milestone for us, highlighting the tangible emissions and cost savings we have delivered for shipowners and operators,” Noah Silberschmidt, founder and chief executive officer, Silverstream Technologies said in the statement.
“This achievement also demonstrates the meaningful impact we are making on the industry’s green transition.”
