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Silverstream wins ESG Innovation Award at ESG China Awards 2023

We are thrilled to share the exciting news that Silverstream has been named as the Winner of the ESG Innovation Award at the ESG China Awards 2023.

The ESG China Awards are given to highly regarded and celebrated organizations and individuals making significant contributions to Environmental, Social, and Governance (ESG) practices.

We would like to congratulate our fellow finalists for the award: Alibaba Group, McDonald’s China, UPS and Nokia Shanghai Bell.

The ceremony took place in Shanghai and was hosted by BritCham, in collaboration with the Chambers of Commerce of the USA, Canada, and Australia. It was an occasion that brought together thought leaders and innovators from various sectors, all dedicated to driving positive ESG impact.

Ted Wan, BritCham Shanghai Vice Chair, summarised what it meant to participate in the ESG Awards 2023:

“The 2nd annual ESG China Awards further promotes pioneers, including companies, organisations and individuals, to actively practice their sustainability and ESG commitments in areas where they can expertly and actively make an impact.”

We would like to thank the awards organizers for hosting such a great event and for recognizing the importance of ESG initiatives. It was indeed a special evening that brought together key stakeholders and decision-makers in the field of sustainability.

 

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 partners with DSIC to install air lubrication on six LNG containerships

Silverstream Technologies has signed a contract in association with partner yard DSIC to install air lubrication system onboard six LNG-powered container ships.

Dalian Shipbuilding Industry Company (DSIC) is a state-owned shipbuilding enterprise located in Dalian, Liaoning province, China. It is part of the China Shipbuilding Industry Corporation (CSIC), which has since been merged into China State Shipbuilding Corporation to form China’s largest shipbuilding company.

All six installations will take place between 2023 and 2024.

The market leading Silverstream® System enables vessel owners to achieve significant net fuel and emissions savings.

Silverstream secures two Finnlines newbuild ro-pax orders

 Silverstream has secured an order from Finnlines to install its air lubrication technology, the Silverstream® System, on two environmentally friendly newbuild ro-pax vessels, the first of which is starting to be built this summer at China Merchants Nanjing Jinling Shipyard (Weihai). 

The Silverstream® System will reduce fuel consumption and associated emissions on the two new design flagship Superstar vessels. The two 235m vessels, which have a capacity of 5,100 lane metres and will carry up to 1,100 passengers, will be delivered by 2023 to operate between Finland and Sweden across the Baltic Sea. 

Choosing the Silverstream® System will further improve the environmental credentials of the Superstar class ro-pax vessels, creating a new benchmark for what is already possible in terms of vessel design in the segment. The technology will exist alongside a suite of measures on the vessels to reduce environmental impact and improve passenger comfort. 

The Silverstream® System uses a series of air release units (ARUs) in the flat bottom of a vessel to generate a rigid carpet of microbubbles that travel the full length of the hull. Silverstream has already begun manufacturing the air release units (ARUs) for the two Superstar vessels and will start working with China Merchants Nanjing Jinling Shipyard to install the technology onboard. 

Speaking on the announcement, Noah Silberschmidt, CEO, Silverstream Technologies, said: “We are proud to unveil the part that Silverstream is going to play to make Finnlines’ Superstar ropax vessels the most advanced passenger-freight ships on the market today. We are excited to get to work on installing our technology onboard these cutting edge vessels.

“Navigating the complexities of international supply chains – particularly as we continue to emerge from the COVID-19 pandemic – requires strong partnerships and collaboration. The team at Silverstream is eager to collaborate once again with our long-term partners at Grimaldi Group and China Merchants Group to not only execute a successful project but push the boundaries for efficient vessel design.”

Emanuele Grimaldi, CEO, Finnlines, said: “We are constantly renewing and developing our fleet, and the upcoming three hybrid ro-ros, as well as two eco-sustainable Superstar ro-paxes, are a next step in the evolution of Finnlines’ fleet. These new vessels will increase our cargo and passenger capacity significantly and, together with our connections, we can meet the needs of our customers better – in a sustainable and responsible way.”

Mikael Lindholm, Head of Newbuilding Department, Finnlines, added: “Finnlines has chosen Silverstream Technologies based on their extensive experience, since they have invested significantly in research and development. We look forward to collaborating with them in future.”

The announcement follows the recent completion of trials of the Silverstream® System on another Grimaldi Group newbuild ro-ro vessel, the Eco Valencia. Fuel and emissions savings of 5.1% were recorded during ALS testing on the Grimaldi Green 5th Generation ro-ro carrier. Silverstream continues to progress with installations across the rest of Grimaldi’s GG5G fleet. 

Silverstream collaborates with SWS on new build development projects

Silverstream has announced the completion of three joint development projects with SWS (Shanghai Waigaoqiao Ship Building Co., Ltd) across two new energy efficient vessels. 

The projects spanned a 180,000dwt dual fuel bulk carrier design that has gained Agreement in Principle from Lloyd’s Register and a separate 300,000dwt dual fuel VLCC design that has achieved Agreement in Principle from both Lloyd’s Register and ABS. 

The Joint Development Projects will see Silverstream’s team of naval architects and marine engineers support the yard to integrate the Silverstream® System from the very beginning of the design phase of the new vessels. This reflects the growing demand for the implementation of proven clean technologies that drive operational and environmental efficiencies on newbuilds. 

By integrating clean technologies at this early stage in a vessel’s lifecycle, optimum efficiency gains can be designed and priced into the overall newbuild plan, lowering the barrier to entry for the adoption of clean technology even further. 

The announcement took place at a press conference hosted by SWS at Marintec China in Shanghai, during which the Agreements in Principle were handed over from Lloyd’s Register and ABS. 

Positioned centrally within a suite of innovative technologies incorporated into each vessel design, the Silverstream® System will deliver proven, validated improvements to energy efficiency, thereby reducing fuel costs and associated emissions. 

The Silverstream® System is expected to generate efficiency savings of between 5-10% across the two vessels, depending on their particular characteristics. 

Speaking at the signing, Noah Silberschmidt, CEO of Silverstream Technologies, said: “By signing these projects with SWS today, we are demonstrating that the appetite for proven clean technology with our industry has never been stronger. Incorporating efficiency solutions at the design phase of newbuild vessels is one of the immediate ways that owners and operators can realise fuel savings and also lessen their impact on the environment. 

“In further strengthening our ties with shipyards like SWS, we remove more barriers to the widespread uptake of clean technologies like ours. We are extremely excited to see the results of these Joint Development Projects and look forward to working with SWS, Lloyd’s Register, ABS, and our other project partners.” 

Liu Jianfeng, Chief Technologist, SWS, commented: “We have focused on developing clean and smart ships that are technically reliable and commercially feasible. We are proud to design advanced ships that will benefit ship owners and lead eco-friendly shipping.” 

The Silverstream® System creates a carpet of microbubbles that coats the entire flat bottom of the vessel, reducing frictional resistance between the hull and the water and thereby dramatically reducing fuel consumption and related emissions. 

Silverstream signs landmark MOU with Hudong-Zhonghua for new build LNG carriers

 Silverstream has announced the signing of a Memorandum of Understanding (MoU) with leading shipbuilding group, Hudong-Zhonghua, part of the CSSC Group. The MoU will see Silverstream’s air lubrication technology – the Silverstream® System – integrated into Hudong-Zhonghua’s new building designs for its future LNG (liquefied natural gas) carriers in order to increase operational and fuel efficiencies, reducing fuel costs and emissions by between 6% and 8% for laden and ballast conditions. 

Hudong-Zhonghua is a subsidiary of the China State Shipbuilding Corporation (CSSC), China’s largest shipbuilding group, and the second largest in the world. To-date, it is also China’s leading manufacturer of LNG carriers, with a capacity for six to eight vessels in its yard. 

The MoU is a significant landmark for Silverstream, as it is the company’s first LNG class newbuild project. It also represents both the Asian market’s growing interest in air lubrication systems, and its wider demand for greater efficiencies and sustainability in newbuild orders. 

Commenting on the development, Noah Silberschmidt, CEO, Silverstream Technologies, said:  “We are delighted and honoured to have signed this landmark agreement with Hudong-Zhonghua, one of the world’s largest and most respected ship yards. It is a significant step for Silverstream as we expand into a new vessel class, and further grow our customer base in the important Asian market.” 

The signing of the MoU marks 12 months of in-depth collaboration between the two organisations, which culminated in the approval of Silverstream’s technology onto Hudong-Zhonghua’s LNG carrier newbuild designs. Both Silverstream and Hudong-Zhonghua will continue to collaborate to drive the sales process with prospective ship owners, working together to ensure the optimum efficiency and design on future orders from the yard. 

Mr Danping Lou, Chief Technical Officer, Hudong-Zhonghua Shipbuilding, said:  “We are committed to bringing to market the most operational and energy efficient newbuild vessels for the LNG sector. In working closely with Silverstream over the past 12 months, we have seen the real attributes of air lubrication technology and the Silverstream® System, and it was clear that incorporating it into the designs for our newbuild LNG vessels, in conjunction with other measures, would deliver optimum performance. We are confident that these new vessels will set the benchmarks for vessel design and performance in the LNG sector.” 

Additionally, the UK Government’s Department for International Trade has played an important role in developing the strong relationship between the UK and Asia, both in terms of maritime innovation, and bringing the two companies together. 

Lei Cullinan, Head of Marine China, Department for International Trade, said:  “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. This agreement between Hudong-Zhonghua and Silverstream is evidence of this, and highlights the opportunity to continue to drive progressive and positive change.”