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Silverstream signs deal with CSSC Jiangnan Shipyard for ADNOC L&S to install Silverstream® System on LNGC series 

Application of proven air lubrication technology on six Jiangnan-built LNGCs further underlines Silverstream’s strong track record in segment.

LONDON, 19th January 2023: Clean technology company Silverstream Technologies has signed an agreement with CSSC Jiangnan Shipyard Group Co. Ltd to supply its market-leading air lubrication technology, the Silverstream® System, on the newbuild LNG carrier programme being constructed for Abu Dhabi National Oil Company (ADNOC Logistics & Services – L&S), it has been announced today. 

The proven performance of the Silverstream® System will deliver a 5-10% net fuel burn and CO2 emissions reduction for an initial six new 175,000cbm LNGCs in the programme. The vessels are also the first LNGCs set to be built at Jiangnan Shipyard and will be among the first Chinese-built LNGCs fitted with an air lubrication technology. The first six ships in the series are expected to be delivered in 2025 and 2026. 

Silverstream’s verified air lubrication technology improves efficiency by generating a uniform carpet of microbubbles across the full flat bottom of a vessel. The air carpet reduces the friction between the hull and the water, and is effective in all sea states.    

While the technology is suited to almost all segments in shipping, LNGCs are particularly strong candidates for the Silverstream® System because of their hull form and large flat bottom. Installing the Silverstream® System on ADNOC Logistics & Services (L&S)’s new LNGCs will improve their overall environmental performance and enable greater operational flexibility for the vessels. 

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “We’re pleased to be able to announce this deal with CSSC Jiangnan Shipyard CO. Ltd for ADNOC Logistics & Services (L&S), which further cements our strong position within the LNG segment. Partnering with ADNOC Logistics & Services (L&S) to install our Silverstream® System on these vessels will help to create a new benchmark for LNGC efficiency, and reinforces the maturity of our technology as a verified fuel and emissions reduction solution. 

“We look forward to further collaboration with the CSSC Group of shipyards via our Shanghai office, to allow more owners access to the technology and ensure a smooth integration and commissioning process.” 

 

Silverstream signs deal with DSIC to install Silverstream® System on four large LNG Carriers

Silverstream has signed a deal with Dalian Shipbuilding Industry Company (DSIC) to install its market-leading air lubrication technology, the Silverstream® System, on four 175,000cbm LNG carriers being built for China Merchants Energy Shipping (CMES). 

The agreement for four firm installations and two options will see Silverstream’s proven technology fitted onto the very first Chinese-owned, Chinese-built LNGCs in the global fleet. 

The installations will take place over the next two years, with work expected to be completed by the end of 2024, in line with DSIC’s building schedule. 

The order further underpins Silverstream’s strong track record in the large LNGC segment, bringing the company’s total number of contracted LNGCs to 23 vessels, eight of which are already in-service. It also follows another recent deal with Abu Dhabi National Oil Company (ADNOC) to install the Silverstream® System on six of the first LNGCs built at China’s Jiangnan shipyard. 

The new 175cbm LNGCs being built at DSIC are each jointly classed between China Classification Society and Lloyd’s Register, American Bureau of Shipping, DNV and Bureau Veritas respectively.

The Silverstream® System will cut the vessels’ fuel consumption and emissions by 5-10% net and is effective in all sea conditions. It will co-exist onboard with a number of other technological innovations including a Mark III membrane cargo containment system and an LNG dual-fuel propulsion chain. 

Speaking on the announcement, Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “We are delighted to announce this new deal with China Merchants Energy Shipping that will see our technology installed on the very first Chinese-owned, Chinese-built LNGCs in the world. It comes thanks to our proven track record of cutting emissions and fuel consumption in one of the shipping industry’s most important operating sectors.

“The agreement strengthens our cooperation with CMES in LNG ship investment and builds on our already strong relationship with Dalian Shipbuilding Industry Company. We look forward to working on these vessels and deepening the ties between Silverstream’s Shanghai presence and the region’s most important maritime players over the next two years.”

The installation of Silverstream’s technology on the new LNGCs comes as part of CMES’s strategy to substantially reduce greenhouse gas emissions from its operations in the near term. Alongside installing the Silverstream® System to cut fuel consumption and CO2, CMES is also sharing voyage and ship data with BHP and DNV to help slash the environmental impact of its fleet. 

 

Silverstream supports Carnival Corp’s decarbonisation drive with ALS technology

Silverstream has signed an agreement with Carnival Corporation to implement its market-leading air lubrication technology, the Silverstream® System, involving the majority of Carnival’s brands, helping the world’s leading cruise company to significantly boost its decarbonisation drive while reducing its fuel bill.

In addition to five installations currently in progress, Silverstream’s technology will be retrofitted to an initial 10 vessels during their scheduled dry docks over the next five years. They form the first wave of the more than 40 ships in Carnival’s fleet that are suitable retrofit candidates for the Silverstream® System. The installations will cause zero disruption to the ships’ normal operations, and zero inconvenience to passengers. 

The Silverstream® System operates by generating a uniform carpet of air bubbles that reduces friction between a ship’s hull and the water. The system is effective in all sea conditions and is suitable for both newbuild and retrofit installations. Its implementation on Carnival’s ships will provide a significant contribution toward the company’s decarbonisation targets over the lifetime of the vessels.

The two organisations, who have been in partnership since 2016, are currently implementing Silverstream’s system onboard five of Carnival’s cruise ships, in addition to the two ships that already have the technology installed. For example, onboard Princess Cruises’ Diamond Princess, the Silverstream® System has achieved an approximate 5% net fuel and emissions saving.

Carnival recently contracted Silverstream to install its technology on two new Sphere-class cruise ships that are being built at a Fincantieri shipyard in Italy – the first being the 175,500 tonne Sun Princess, which is expected to be delivered in early 2024. The 345-metre newbuilds will be operated by Princess Cruises and powered by Liquefied Natural Gas (LNG), paving the way for the next generation of low carbon passenger vessels.

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “Our relationship with Carnival goes from strength to strength. This landmark order of the Silverstream® System for a minimum of 10 of its cruise ships, with a view to potentially contracting more applicable vessels, is a hugely important sign of the times for the cruise sector. The segment’s largest operator is leading the way in adopting proven clean technologies that will help decarbonise its fleet – both in the short and long term – and we’re very happy to support our longstanding partner with this crucial transformation.”

Bill Burke, Chief Maritime Officer, Carnival Corporation, said: “The installation of this proven Silverstream air lubrication technology is another example of our ongoing efforts to drive energy efficiency and reduce fuel consumption and emissions throughout our fleet. We look forward to expanding the Silverstream ALS program and furthering our long-term sustainability strategy to continually invest in a broad range of energy reduction initiatives.”

 

Andrew Derodra appointed Chief Financial Officer

Silverstream Technologies, the market leader in air lubrication technology for the global shipping industry, today announced the appointment of Andrew Derodra as Chief Financial Officer to bring financial leadership to the ongoing development and implementation of the company’s ambitious growth strategy. 

Andrew’s extensive career spans senior finance and strategic roles in multiple sectors including FMCG, healthcare and software. He brings a wealth of experience as CFO in FTSE-listed, private equity-owned and founder-led businesses, including in the delivery of shareholder value, equity and debt financing, and M&A. Andrew’s expertise in driving commercial effectiveness for successful, growing enterprises will be a considerable asset to Silverstream in the coming years. 

Andrew joins Silverstream as it scales up exponentially to deliver a proven decarbonisation solution for application across the global maritime industry. The company’s market-leading air lubrication technology, the Silverstream® System, delivers 5-10% net fuel and emissions savings for oceangoing vessels, by reducing frictional resistance between the hull and the water. 

With systems onboard ships owned by the likes of MSC, Shell, Grimaldi, Carnival, Vale and many others, Silverstream’s patented solution has achieved strong orderbook growth in recent years. Now surpassing 100 contracted vessels and a cumulative order intake of £125 million, Silverstream is an example of a strong and agile British clean technology business. 

Andrew Derodra, CFO, Silverstream Technologies, said: “The journey to help reduce global emissions is urgent and quickly gathering pace, and we can see the impact of not doing enough all around us. Silverstream has a proven and cost-effective technology that is applicable across global shipping fleets. I believe this has really started to resonate within the shipping industry, evidenced by the rapid growth in Silverstream’s order intake. I am delighted to be joining the company at this exciting moment in its development, and I look forward to supporting its mission of tangibly influencing maritime decarbonisation.” 

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “As demand for our Silverstream® System increases, it is timely to bring in expert senior financial perspectives to complement the company’s other strengths. Andrew’s excellent track record as a CFO at highly successful businesses across many different sectors will prove a great advantage to Silverstream as we expand our presence in the global maritime industry. 

“With offices in London and Shanghai, Silverstream is fortifying its global footprint and reputation as the partner of choice for air lubrication in shipping. We are very proud of our expert and passionate team – which now exceeds 75 staff – who underpin this effort, and are looking forward to welcoming Andrew into our ranks to help drive financial leadership at this pivotal moment for our business.” 

  

Drydocks World-Dubai signs strategic partnership with Silverstream to drive maritime decarbonisation in the Middle East

LONDON, 10th August 2022: Drydocks World-Dubai announced today the signing of a strategic agreement with maritime technology company, Silverstream Technologies, to promote the use of market-leading air lubrication technology, for the vessels that enter the busy shipyard each year. 

Drydocks World-Dubai, a subsidiary of DP World, is the largest centre in the Middle East for ship repair, conversion, new builds, rigs and MRO projects, with a particular focus on renewables and energy efficiency projects. 

Air lubrication is an approved technology under the IMO’s Energy Efficiency Design Index (EEDI) for newbuilds, as well as the Energy Efficiency Existing Ship Index (EEXI), and the Carbon Intensity Indicator (CII) requirements, which come into effect in 2023. The agreement with Silverstream will see Drydocks World-Dubai become an approved installation provider of Silverstream’s technology on a wide variety of retrofit projects which will support owners in meeting pressing efficiency regulations. 

The partners will work together to promote the Silverstream® System, while closely sharing knowledge on both the technical and commercial aspects of its installation procedures. The partnership marks another step in Silverstream’s global expansion, collaborating with the very best yards and supply chain partners around the world to utilise their local relationships and expertise. 

Capt. Rado Antolovic PhD, CEO of Drydocks World said: “We are pleased to sign this partnership with Silverstream, an innovative provider of clean technology, as part of our commitment to enhancing the environmental performance of shipping. Together, we intend to share technical expertise and promote a proven efficiency solution to minimise the maritime industry’s carbon footprint.” 

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “We are proud to announce our collaboration with Drydocks World-Dubai, a global leader in ship repair, conversion and newbuilding services. As a highly respected yard with decades of experience, it will help boost adoption of our proven Silverstream® System; strengthening the reliability and integrity of our supply chain, and raising awareness of our technology’s capacity to improve ship efficiency and operational flexibility.” 

 

MMHE signs strategic partnership with Silverstream to support decarbonisation agenda  

Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has signed a strategic agreement with maritime clean technology company Silverstream Technologies. The partnership will facilitate retrofit opportunities for Silverstream’s market-leading air lubrication technology – the Silverstream® System – as well as collaboration, information and knowledge sharing between the two companies. 
 
MMHE, one of the most prominent LNGC repair yards in Asia, will collaborate with Silverstream Technologies to support LNGC owners and operators in their decarbonisation efforts by improving the efficiency of their vessels towards EEXI and CII compliance. MMHE, a wholly owned subsidiary of Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), has more than 45 years’ experience in delivering energy and marine solutions for a wide range of heavy engineering facilities and vessels.  
 
As part of the agreement, the two organisations will perform joint promotion of the Silverstream® System and other complementary products and services, and MMHE will become an approved installation provider of the air lubrication technology. 
 
The collaboration will also see Silverstream provide technical and commercial support to assist MMHE in securing contracts, including the provision of initial efficiency saving estimates and system design information on proposed installations. 
 
Pandai Othman, MD & CEO, MMHE, said: “We are delighted to sign this agreement with Silverstream, a renowned maritime clean technology service provider. This strategic partnership is a promising start as it unlocks new commercial opportunities for both companies. 
 
“Together, it allows us to bring the powerful combination of MMHE’s retrofit and conversion technical expertise and Silverstream’s air lubrication system to market in supporting our customers’ decarbonisation strategies, thus accelerating the industry’s transition to cleaner shipping.” 
 
Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “We are very pleased to announce our collaboration with MMHE, a world-class shipyard with an exceptional history in LNGC repair and conversion services. 
 
“By working together, we aim not only to raise awareness among our combined customer base of Silverstream’s market-leading air lubrication technology, and MMHE’s role as one of the world’s leading LNGC shipyards, but also to encourage adoption of clean technologies more widely in the industry as an essential step in shipping’s decarbonisation journey.” 

Silverstream appoints GTT’s David Colton to its board of directors  

Silverstream, the market leader in air lubrication technology for the global shipping industry, has announced the appointment of Mr Colson, Commercial VP, Gaztransport & Technigaz (GTT) to its Board of Directors. 

Mr Colson currently oversees all of GTT’s commercial activities, including responsibility for shipyard and licensee development, ship-owner business development, corporate communication and strategy and marketing teams. He is a Member of GTT’s Executive Committee, a Board Member of several Group subsidiaries and GTT’s representative on the Boards of Industry bodies SGMF (Society for Gas as a Marine Fuel) and SEA-LNG. 

Mr Colton has extensive commercial experience in the licensing of technology to shipyards, particularly in Korea and China, as well as invaluable knowledge of owners’ and charterers’ specific requirements. His appointment to Silverstream signals its increasing stronghold in the Southeast Asian shipbuilding market, developed over the past decade in scaling and exporting its proprietary air lubrication technology, the Silverstream® System, in partnership with key shipbuilding partners in the region. 

Mr Colson, Commercial VP, GTT & Board Member, Silverstream Technologies, commented: “I have followed Silverstream’s impressive growth journey in recent years, so when I was offered an advisory role within the company, I was very pleased to accept. Silverstream has strong, proven system performance demonstrated by sea trials and in-operation data from the world’s largest shipping firms. Silverstream’s figures are better than other products on the market, and it is developing software and tools to monitor and further enhance the in-service performance of its systems.” 

Mr Colson continued: “Silverstream’s technology is not just a newbuild proposition; the market for retrofit installations is even greater with the IMO’s EEXI and CII standards coming into effect next year. Owners will need to improve the performance of their older tonnage, and proven clean technologies like the Silverstream® System offer a compelling solution to these landmark regulations. It’s exciting to be a part of a company that is making a real impact in shipping’s crucial decarbonisation pathway, and I look forward to offering my advice and support in the coming years.” 

Noah Silberschmidt, Founder & CEO, Silverstream Technologies: “We are delighted to be welcoming David to Silverstream’s Board of Directors. His highly relevant experience in design and manufacturing for the transportation and oil and gas sectors is a fantastic asset to our business. As Silverstream’s orderbook and global export capacity expands significantly, David’s expertise in driving commercial best practice in a world-leading LNG company in GTT will help guide us through the next phase of our exciting growth journey.” 

GTT is the leading global supplier of liquified natural gas (LNG) containment systems. For more than half a century, the company has optimised the storage space and reduced the construction and operation costs of ships or tanks equipped with its containment systems. GTT helps to streamline the whole LNG supply chain, using its expertise to meet customer requirements while responding to evolving international regulations, thereby contributing to fleet decarbonisation. 

 

Wärtsilä and Silverstream to collaborate on accelerating deployment of air lubrication technology

Technology group Wärtsilä, and Silverstream have announced the signing of a Licence and Co-operation Agreement for future sales and servicing of the Silverstream System. As an authorised sales and service partner, Wärtsilä intends to fully integrate Silverstream’s air lubrication system within its propulsion solutions. 

By offering the Silverstream System as an integral part of Wärtsilä’s propulsion solution for newbuild vessels, compliance with the Energy Efficiency Design Index (EEDI) will be further improved. Under the agreement, the Silverstream System will also be available through Wärtsilä’s sales channels for retrofit installations on existing vessels where Wärtsilä is a primary solution provider. The integrated Silverstream System is expected to realise synergies in capital and operational savings across the propulsion chain by increasing fuel efficiency, and optimising engine loading. 

This new collaborative partnership will accelerate the deployment of air lubrication systems across all vessel classes, from small bulk vessels to the largest container ships. By combining Wärtsilä’s propulsion expertise and Silverstream’s innovative engineering knowledge, access to this clean technology will be facilitated across the market. 

Going forward, the collaboration agreement will enable current and future Silverstream customers to access Wärtsilä’s global service network for the maintenance of their Silverstream System installations. Wärtsilä’s network of service centres, workshops, and service professionals is the most extensive in the maritime industry, with 4500 field service professionals located in 70 countries around the world. 

The agreement means that more ship owners will have easy access to Silverstream’s proven air lubrication technology. The system has been proven to reduce fuel burn and associated emissions by 5 to 10%, depending on vessel type. 

Speaking on the agreement, Lars Anderson, Director, Propulsion, Wärtsilä Marine, said: “At Wärtsilä we are committed to fully supporting our customers as they strive to reduce operating costs and improve the environmental sustainability impact of their operations. Today’s agreement enables us to facilitate the building of better vessels that meet tomorrow’s challenges today, and Silverstream are the ideal partners to help us realise this goal.” 

Noah Silberschmidt, CEO, Silverstream Technologies, added: “Today’s agreement with Wärtsilä reinforces our position as the shipping industry’s leading clean technology manufacturer. In Wärtsilä we find a partner as committed as we are to achieving a cleaner, more efficient and sustainable maritime industry. 

“With the global sulphur cap almost upon us and decarbonisation targets on the horizon, the commercial case for proven clean technology has never been stronger. Now is the time for ship owners to take action to reduce their operational costs and their impact on the environment, and today’s agreement will help unlock the power of air lubrication technology for more vessels across our sector.” 

The Silverstream System creates a carpet of bubbles that coat the entire flat bottom of the vessel. This carpet reduces frictional resistance between the hull and the water, dramatically reducing fuel consumption and related emissions. The technology works in all maritime conditions, is not weather dependent, and does not constrain or negatively impact the normal operational profile of the vessel. 

 

Grimaldi Group chooses Silverstream air lubrication for new paradigm of green vessels

Silverstream Technologies, the pioneers of air lubrication technology for the shipping industry, have signed a major new deal with Italian shipowner Grimaldi Group SpA, the company announced today. 

The agreement will see the Silverstream® System, Silverstream’s proprietary air lubrication technology, installed on 12 cutting-edge, hybrid RoRo vessels that are being built over the next three years. 

The technology, which produces a thin layer of micro-bubbles for the flat bottom of the vessel, will be an integral part of the new design’s portfolio of emissions and fuel reduction measures. Air lubrication reduces the frictional resistance between the water and the hull, improving operational and environmental efficiencies. Silverstream expects that the system, which will last the lifetime of the new vessels, will reduce fuel consumption and associated emissions. Additionally, the Silverstream® System has been designed to provide continuous reliable performance and is simple to operate and maintain. 

Grimaldi’s Green 5th Generation (GG5G) vessel project was conceived over the last year in conjunction with Danish naval architect Knud E Hansen. The vessels will emit zero emissions in port following the installation of lithium batteries, and, in addition to Silverstream’s technology, will also be fitted with solar panels and scrubbers to further reduce emissions. 

Emanuele Grimaldi, Managing Director, Grimaldi Group said: “I am pleased that the Silverstream® System will form the centrepiece of our pioneering new Ro-Ro vessels. The GG5G project always set out to create a new paradigm in ship design and demonstrate to the whole industry what is possible in terms of driving sustainability with proven solutions already on the market. In signing this deal with Silverstream we have shown that a more sustainable future for shipping is not just possible, but closely within our grasp.” 

Dario Bocchetti, Head of Corporate Energy Saving and Innovation Department at Grimaldi, commented: “Grimaldi’s commitment to sustainability is unparalleled within the shipping industry. This deal with Silverstream demonstrates that the time for innovative solutions to shipping’s problems is upon us. The reduction of fuel costs and associated emissions is central to Grimaldi’s aims as a progressive, forward-thinking company, and we are extremely pleased that Silverstream will help us fulfil those goals.” 

Noah Silberschmidt, CEO, Silverstream Technologies said: “This agreement marks an important milestone in the continued proliferation of air lubrication technology in the shipping industry. With major environmental regulatory challenges on the horizon, it is important to see key players like Grimaldi stepping forward and proving that solutions to reduce fuel costs and emissions are already available on the market. We believe that this deal has thrown down the gauntlet for other shipowners, and sends a message that real savings can be realised through the application of credible and proven clean technologies.” 

The Grimaldi Group expects the first of the new vessels to be completed in May 2020 and become operational by Q3 2020 on Mediterranean ro/ro trade routes. 

 

Silverstream retrofits air lubrication system on Carnival Corporation’s Diamond Princess

Silverstream today announced that Carnival Corporation, the world’s largest cruise vacation company, has successfully retrofitted the Silverstream® System‘s air lubrication technology, onto the Diamond Princess from its Princess Cruises brand. 

The system has been in operation since June 2017, reducing fuel consumption and related CO2 emissions. It recently completed its final contract trials, which demonstrated that the original performance expectations were exceeded with net efficiency improvements of over 5% at the design service speed, verified by Lloyd’s Register.

This project underscores Carnival Corporation’s commitment to environmental sustainability, and continues Silversteam’s significant progress in driving the uptake of credible clean technologies amongst ship owners. 

Carnival Corporation chose to retrofit Silverstream’s air lubrication system following an analysis of air lubrication technologies and Silverstream’s proven track-record for delivering tangible reductions in fuel costs and emissions, attained through comprehensive sea-trialling and in-operation data analysis. 

“Sustainability is a top priority for Carnival Corporation,” said Mike Kaczmarek, Vice President of Corporate Marine Technology for Carnival Corporation, whose global cruise line brands include Carnival Cruise Line, Cunard, Holland America Line, and Seabourn, in addition to Princess Cruises. “Our recent Sustainability Report, published in 2017, set clear goals for improving the efficiency of our fleet through overall operations and innovative solutions. Retrofitting Silverstream’s air lubrication technology on the Diamond Princess is another example of our ongoing efforts to leverage technology to reduce fuel consumption and emissions.” 

Noah Silberschmidt, CEO, Silverstream Technologies said: “The installation of the Silverstream® System on the Diamond Princess once again demonstrates the very real demand for proven clean technologies that are cost-effective, easy to implement and operate, and deliver the efficiency benefits that are claimed.” 

“Cruise operators are under increasing pressure from customers and regulators to improve sustainability,” he added. “Our work with Carnival Corporation and Princess Cruises reflects the growing confidence in our technology.” 

Additionally, data from installations has shown that noise and vibration emissions are reduced.