LONDON, 12 November 2024: Silverstream Technologies, a maritime clean technology company specialising in air lubrication systems, has signed a memorandum of understanding (MoU) with Yiu Lian Dockyards (Shekou) Ltd, one of the largest ship repair yards in China and part of China Merchants Group. This partnership aims to drive retrofit installations of the Silverstream® System.
Yiu Lian Dockyards (Shekou) operates repair yards in Shekou, Shenzhen. The shipyard accepts all major vessel types but is well known as the leading repair yard in China for LNG carriers (LNGCs). LNGCs have a scheduled dry docking every five years after delivery; a time window that presents an ideal opportunity to retrofit clean technologies and enhance vessel energy efficiency without any loss of hire.
The dockyard has serviced 734 vessels in the past three years from all segments, and so far in 2024 alone, it has dry-docked 28 LNGCs. As part of the agreement, the companies will collaborate on installations of the Silverstream® System for vessels dry docking at Yiu Lian (Shekou), ensuring efficient delivery, tailored to customers’ needs.
Noah Silberschmidt, Founder & CEO, Silverstream Technologies commented: “Collaborating with leading shipyards is key to ensuring that more shipowners can benefit from our air lubrication technology, which enhances fuel efficiency and reduces emissions. With the most retrofit experience of any air lubrication technology provider, we’re committed to facilitating access to our Silverstream® System and contributing to a more sustainable and efficient shipping industry. We’re excited to sign this new agreement with the team at Yiu Lian Dockyards, enabling even more vessels to take advantage of our innovative solution.”
Xu Rong, Vice GM, Yiu Lian Dockyards (Shekou) Limited: “Reducing greenhouse gas emissions and saving fuel have become top priorities for shipowners and operators. Each year, we see growing interest from owners in retrofitting clean technologies on the vessels that visit our yards. The Silverstream® System, a market-leading air lubrication technology, is the ideal solution for these ships – particularly the LNG carriers we regularly service. We’re excited to now offer our customers the ability to facilitate installations of this innovative system.”
The Silverstream® System reduces frictional resistance between the water and the hull surface, reducing net fuel consumption and associated greenhouse gas emissions by an average of 5-10%. The system is unique in that it is the only proven air lubrication technology that can be retrofitted in 10 days or less, as well as being applicable to newbuilds.
The system is fuel agnostic, effective in all sea states, and is applicable to all shipping segments.