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Silverstream and Carnival Corp expand partnership

Maritime clean technology leader Silverstream Technologies has signed an agreement with Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world’s leading cruise company, to install the Silverstream® System on another two cruise ships. These will be the third and fourth new build Excel-class vessels to be fitted with its air lubrication system. The 180,000 GT vessels, with a capacity of over 5,000 passengers, will be built at German shipyard Meyer Werft and feature key sustainability technologies to support Carnival Corporation in meeting its decarbonisation goals.

The LNG-powered newbuild vessels, among the most environmentally advanced ships in their class, will integrate Silverstream’s technology onboard, unlocking net fuel savings potential and paving the way for the next generation of low-emission passenger vessels. Previously, the system delivered approximately 5% net fuel and emissions savings onboard Princess Cruises’ Diamond Princess. This aligns with Carnival Corporation’s focus on minimising its carbon intensity by 40%, a target the company aims to achieve by 2026—four years ahead of initial projections.

The two newbuilds, scheduled for delivery in 2027 and 2028, will result in a total of 16 vessels in Carnival Corporation’s fleet with the Silverstream® System advancing the company’s decarbonisation aspirations. Like their predecessors, these latest additions to the fleet will also feature a broad range of other energy efficiency improvements, such as waste heat recovery, sophisticated HVAC systems and hull form optimisation, helping Carnival Corporation further minimise its environmental footprint and operating costs.

The emissions savings generated by the Silverstream® System support decarbonisation goals that help further the sustainability leadership positioning of cruise operators. Underpinning these efforts is Silverstream’s close collaboration with shipyards to seamlessly meet the industry’s growing demand for clean technology solutions, as well as comprehensive operational data obtained from many years of system operations.

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, commented: “Cruise operators have consistently been frontrunners in embracing advanced technologies across their fleets. Since 2016, we have proudly partnered with Carnival Corporation, the industry’s largest operator, to support their decarbonisation journey with our proven air lubrication technology. The need of the hour is to raise decarbonisation ambitions, and we are committed to building large-scale partnerships that advance sustainability across the entire sector.”

Carnival Corporation’s Chief Maritime Officer, Vice Admiral (Ret.) William R. Burke, added: “Silverstream’s ability to deliver proven, verified GHG and fuel cost savings sets them apart in a crowded marketplace. Our continued partnership has thrived thanks to our shared commitment to advancing sustainability in the maritime sector. As we work towards net zero by 2050, we look forward to many more years of collaboration, driving energy efficiency, reducing fuel consumption and cutting emissions throughout our fleet.”

The Silverstream® System works by reducing frictional resistance between the water and the hull surface, minimising net fuel consumption and associated greenhouse gas emissions by 5-10%. The system has been independently verified by Lloyd’s Register, HSVA, the University of Southampton, Carnival Corporation, and Shell. It can also be retrofitted in 10 days or less, minimising disruptions to vessel operations.

Silverstream sets up Global Operations Centre in Southampton

SOUTHAMPTON, 29 July 2024: Maritime clean technology leader Silverstream Technologies has successfully launched its new Global Operations Centre in Southampton, marking the latest milestone in Silverstream’s growth journey.

The new hub will enhance Silverstream’s operational capabilities and support the existing fleet. Additionally, it is equipped for further R&D on Silverstream’s Control and Monitoring System (CMS) solutions. Accommodating over 40 employees, the Centre also features state-of-the-art technology. Its strategic location, neighbouring Lloyd’s Register’s office, is designed to attract local talent from Southampton’s vibrant maritime business community and boost regional recruitment.

Representatives from the government, marine industry and Silverstream’s partners attended the Global Operations Centre’s opening ceremony last week.

Speaking on the opening of the Global Operations Centre, Noah Silberschmidt, Founder & CEO at Silverstream Technologies, said: “When we look back on our remarkable journey over the past 14 years, we are proud of what we have achieved. We have grown rapidly, thanks to our ability to scale and commercialise this technology, and this is something I am incredibly proud of.

“We also remain aware of the great opportunities that lie ahead, and our work is far from over. The decarbonisation challenge is no small feat, with real regulatory and commercial implications for ship owners and operators. Building on our track record as a leader in maritime transformation, we look forward to continuing to help our customers through this change.”

The new Global Operations Centre is ideally located near the Port of Southampton, which is a key hub for many of Silverstream’s customers including Carnival Corporation, Mediterranean Shipping Company (MSC) and Maersk.

Additionally, the Centre is close to the renowned Maritime Engineering School at the University of Southampton, a long-standing partner of Silverstream.

The Silverstream® System cuts average net fuel consumption and GHG emissions by 5-10%, helping shipowners around the world save fuel, lower emissions and reduce costs. The system achieves this by releasing a uniform carpet of microbubbles that coats the full flat bottom of a vessel, reducing friction between the hull and the water. Silverstream has successfully verified the savings that its technology creates through third-party assessment from organisations including the University of Southampton, Lloyd’s Register, Carnival and The Hamburg Ship Model Basin (HSVA).

Silverstream was founded in 2010 with a vision to have a positive impact on shipping’s decarbonisation. It completed its first installation in 2014 and has 80 systems installed onboard ships today.

Reflecting this strong growth journey and international interest in the technology, Silverstream opened a new office in Shanghai in 2022, bringing it closer to one of shipping’s key markets and powering up the company’s export arm.

It has also invested in all the internal functions that enable it to be a full lifecycle business, from IR&D and product engineering through to digital support and aftercare service, much of which will be based in the new Global Operations Centre.  

Silverstream supports Danish Women’s Eight Rowing Team

Silverstream Technologies is delighted to announce its support for the Women’s Eight of the Danish Women’s National Rowing team. 

Our Danish Founder and CEO Noah Silberschmidt recently visited the Women’s Eight in Copenhagen to congratulate them on their remarkable successes this year. 

Following Noah’s visit, the team embarked on a training camp in Portugal in preparation for their upcoming races, looking to maintain the standards set by their outstanding performances earlier this year. These athletes work diligently and consistently to strive for maximum efficiency over the water. Just as we aim to do with the Silverstream® System. 

Denmark is a historic shipping nation with deep roots in maritime trade, and one of the largest ship-owning countries in the world. The national rowing team are no exception when it comes to Denmark’s time-old connection to the water. The culturally significant National Rowing Centre is Denmark’s oldest sports federation. 

Denmark’s deep maritime heritage inspires us, and supporting the Women’s Eight aligns with our commitment to community and the environment. Collectively, between the Danish national rowing team and Silverstream, there is a shared understanding that our seas and waterways are our most valuable resource. The DFfR care profoundly about its environmental impact, standing for ‘a clean and green’ sport in a sustainable world. 

Silverstream, akin to the DFfR, value the preservation our marine environment above all else and is looking to build a cleaner, brighter future for this planet and everyone on it. The starting gun has been fired on maritime decarbonisation, and now is the time to transform maritime energy efficiency on a global stage. 

We are proud to sponsor and support this amazing team, and wish them the best of luck in their future competitions! 

See below for a video of the Danish Women’s Eight at their training camp in Portugal. 

https://youtu.be/6stGJo4dUN4 

Silverstream collaborates with SKCT in Korea

Silverstream Technologies has appointed SKCT as its local representative in the South Korean shipping market. SKCT will work closely with South Korean shipyards and vessel owners and support them during the planning and enquiry stage for the installation of the Silverstream® System, our air lubrication technology. The SKCT team is available for daily local support to deliver best-in-class service to vessel owners and the shipyard’s sales planning and technical teams.

Silverstream recognises the importance of the South Korean maritime industry, and this marks the first step as part of a wider plan focused on our Korean supply chain and service network development. Our commitment to building and maintaining strong partnerships and delivering top-tier service to Korean shipyards and vessel owners remains at the forefront of Silverstream’s strategy in both the country and the broader Asia-Pacific region.

Last year, the South Korean government announced plans to invest $534 million over five years in the Korean shipbuilding market. This investment as part of the ‘K-Shipbuilding Strategy for Next-Generation Market Dominance’ is focused on new technologies and alternative fuels, boosting Korean shipyards’ already class-leading manufacturing capabilities.

Korea’s focus on building the next generation of high-quality, efficient ships featuring new technologies is a huge opportunity for Silverstream. Our market leading and proven Silverstream® System releases a carpet of air to reduce the frictional resistance between the hull and the water, cutting average net fuel consumption and GHG emissions by 5-10%. The system is applicable to all shipping segments and is effective in all sea states. It has become a must-have for leading shipowners, who are eager to meet tightening environmental standards, making it a standard equipment choice for their vessels.

Daniel Mann, Vice President of Business Development, and Noah Silberschmidt, Founder & CEO, of Silverstream (pictured) recently visited the Hyundai Samho Heavy Industries shipyard in South Korea where our Silverstream® System was fitted on @MSC Mediterranean Shipping Company’s MSC Napoli container ship. As part of this order, our system will be installed on 10 MSC ships, 2 of which have been delivered by HD Hyundai’s sister shipyard in Ulsan.

Silverstream and MAN Energy Solutions sign collaboration agreement

Agreement focuses on two stroke engine business to drive retrofits and newbuild installations of market-leading air lubrication system 

Clean technology leader Silverstream Technologies and marine engine designer MAN Energy Solutions have signed a collaboration agreement to support the decarbonisation of the global shipping industry. 

The agreement will explore solutions for improving vessel efficiency spanning both newbuild installations and retrofits. With approximately half of the world’s commercial ships powered by MAN Energy Solutions, the collaboration will help further accelerate adoption of Silverstream’s proven air lubrication technology, the Silverstream® System, across the global fleet. 

Silverstream’s technology releases a uniform carpet of air to reduce the frictional resistance between the hull and the water, cutting average net fuel consumption and GHG emissions by 5-10%. While the air lubrication system is applicable to all shipping segments and is effective in all sea states, it is especially effective on large oceangoing vessels due to the size and shape of their hull. MAN two-stroke engines are the preferred choice of propulsion for these commercial vessels. 

Bjarne Foldager, Head of Two-Stroke Business, MAN Energy Solutions, said: “There are many different ways to approach net-zero and MAN Energy Solutions is happy to work with like-minded industry partners in this pursuit. Decarbonising the marine segment is a giant task but Silverstream, with its innovative technology, displays great potential in this regard. I’m certain that this agreement will deliver interesting insights and, crucially, concrete proposals to further our mutual aims.” 

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, commented: “It was a pleasure to meet up with our new partners at MAN Energy Solutions this month at the Global Maritime Forum in Athens to sign this important agreement. Shipping must rise to the challenges of decarbonisation, new regulations and increasingly complex fuel economics. In collaboration with MAN ES, we are leading the way to the cleaner, greener vessels needed to achieve the IMO’s carbon reduction targets; pursuing the mantra that the greenest fuel is the fuel that you do not use.” 

As of October 2023, there are 180 vessels contracted to have the SilverstreamÒ System installed across all of shipping’s major segments, with 50 installed on ships in-service today. Silverstream’s customers include MSC, Maersk, Grimaldi, Shell, Vale, Carnival and ADNOC L&S, amongst other major industry names. Many of these customers are signing fleet-wide deals for the technology. 

This market interest is driven by the fact that the system represents a proven lifecycle solution for efficiency, with class-approved components that are designed to last the lifespan of a vessel. The commercialisation and scaling of air lubrication technology, which this collaboration agreement supports, helps to solve the fundamental challenge of vessel design efficiency. 

 

Silverstream and COSCO Shipping Heavy Industry in deal to propel ALS uptake

 Silverstream and Chinese shipyard group COSCO Shipping Heavy Industry Co. Ltd (CHI) have signed a high-level memorandum of understanding (MOU) which will explore opportunities to install the Silverstream® System in CHI shipyards.

The MOU will foster a deeper level of collaboration between the two organisations and will enable Silverstream to assess how its technology could be licensed to fit within CHI’s technology portfolio. The agreement will also enable Silverstream to investigate additional options for the fabrication and supply of components of the Silverstream® System in China and the Asia-Pacific region, and it directly supports the company’s strategy of direct engagement with Chinese shipyards.
 
CHI is headquartered in Shanghai and operates nine shipyards – four for newbuilds and five for ship repairs. It ranks second in China for newbuild market share volumes and equal first in the repair/retrofits market. CHI operates yards for shipowners based around the world, including for its several sister COSCO Shipping companies.
 
Noah Silberschmidt, Founder & CEO, Silverstream Technologies, commented: “We are delighted to sign this MOU with CHI, which will enable us to work with the yard to find opportunities to install the Silverstream® System on ships built and repaired across its portfolio. Our established technology is fast becoming a standard selection on newbuild vessels and a leading retrofit option to improve vessel efficiency. In CHI, we have found another strong partner to help us continue to work towards this target. We look forward to a long-lasting and mutually beneficial relationship.”
 
Xiao Zijian, Commercial Director of CHQ, COSCO Shipping Heavy Industry, commented: “We are in a new era of transformation and development of the shipping industry. In order to meet shipowners’ needs to upgrade the efficiency of their fleets, we pay close attention to the world’s leading energy-saving clean technologies and marine products. We are therefore very pleased to establish the MOU with Silverstream Technologies, the leading supplier of hull air lubrication systems. Through the localisation of the supply chain and further installations of Silverstream’s technology, carried out in Chinese yards, we can play a complementary role in each other’s businesses and jointly provide high-quality and cost-effective vessel efficiency solutions to shipowners worldwide.”
 
In 2023, ship operators have submitted baseline performance statistics for the International Maritime Organization’s Carbon Intensity Indicator (IMO CII) regulations. Ships will receive the first vessel efficiency ratings within the CII ranking framework in 2024. Additionally, CO2 emissions from ships above 5,000 GT and transporting cargo or passengers for commercial purposes will be included in the European Union Emissions Trading System (EU ETS) for the first time from 1 January 2024. With these new regulatory drivers becoming more impactful on vessel operations, the need for improved vessel efficiency, and therefore the need for adopting energy efficiency technologies, is only set to increase.
 
Silverstream is already meeting this increased demand for efficiency. As of August 2023, 179 vessels are contracted to have the Silverstream® System installed across all shipping segments, with 44 of those ships already in service with the system onboard. Silverstream is realistically targeting 500 orders by 2025. 

 

Silverstream and Orient Marine sign agency agreement to promote Japan sales

Silverstream and Orient Marine Co., Ltd. (Orient Marine) have signed a new Agency Agreement for sales support of the Silverstream® System within Japan.

The agreement will allow Orient Marine to act as an agent for Silverstream in Japan, providing local representation for marketing and promoting the company’s air lubrication technology to all segments, across both newbuild and retrofit applications. 

The move builds on the Memorandum of Understanding signed between Silverstream, Orient Marine and Mitsui & Co. Europe Plc. in July 2022. The MoU was signed to spur uptake of the Silverstream® System within the Japanese ship owning community.

The Agency Agreement will leverage Orient Marine’s extensive market knowledge and reach across Japan’s shipping sector. It will facilitate sales support for the Silverstream® System across the Japanese-owned fleet and with Japanese shipyards for newbuild and retrofit orders. 

Orient Marine’s longstanding ties with the Japanese shipping industry, including charterers, owners and shipyards in Japan, will also help to accelerate system uptake, enabling more rapid decarbonisation within the Japanese maritime market. 

Speaking on the announcement, Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “As we deepen our links with Southeast Asia’s shipping community and its key maritime nations, we need partners that we can rely on to support us with local expertise, industry knowledge and the same first-rate service that the industry associates with Silverstream Technologies.

“This new Agency Agreement with Orient Marine will provide us with a smooth path to engaging with Japan’s key shipowners, yards, ship designers and charterers. We are excited by the opportunity to support more of these key players to embrace the Silverstream® System and to enable them to make progress on their decarbonisation journeys.”

Naoki Shinohara, Executive Vice President, Orient Marine, added: “We are delighted to be able to sign this Agency Agreement with Silverstream Technologies. It builds on the MoU we agreed in July 2022 and will enable us to use our expertise and connections across the Japanese shipping market to propel the uptake of the Silverstream System to meet a growing need for decarbonisation.”

The agreement comes ahead of a programme of engagement with the Japanese market planned by Silverstream to take place across Spring 2023. In April, Silverstream’s team will travel to Japan and engage with charterers, shipowners and shipyards.  

 

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. 

 

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.” 

 

Silverstream and ICE co-operate on retrofit design

ICE Marine Design and Silverstream have entered into a framework agreement for worldwide installation design services for retrofitting of the Silverstream® System, the market leading patented air lubrication system designed for reduction of friction between ships’ hulls and seawater. London-based Silverstream Technologies is a founding member of the Global Industry Alliance for combating pollution within shipping. The Silverstream® System has been proven to deliver substantial fuel savings and an associated reduction in GHG emissions.

Commenting on the new cooperation agreement, Steinar Draegebo, ICE Group’s Chairman & Chief Executive, said: “ICE has for some years been designing retrofit installation of ballast water treatment (BWT) and exhaust gas cleaning (EGC) systems into existing ships; we routinely send employees around the world to undertake laser scanning onboard ships to ensure we can design an installation that can be done as quickly and cost-effectively as possible.

“We are honoured to be selected by Silverstream Technologies to extend our retrofit design activity to help the many shipowners around the world whoare keen to reduce fuel costs and help combat pollution using the Silverstream® System. We expect this to be a major retrofit market opportunity within the near future as the industry becomes aware of the substantial benefits of the technology, with the aim that the Silverstream® System is routinely included in new ships when they are being built”.