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Silverstream signs MoU with Hudong-Zhonghua Shipbuilding

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LNG Industry,

Silverstream Technologies, an air lubrication manufacturer for the shipping industry, has announced that it has signed a memorandum of understanding (MoU) with 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 carriers in order to improve operational and fuel efficiencies, reducing fuel costs and emissions by between 6% and 8% for laden and ballast conditions.

Silverstream claims that this is a key milestone for the company, as it is its first LNG class newbuild project. It also reflects the Asian market’s growing interest in air lubrication systems, as well as its wider demand for greater efficiencies and sustainability in newbuild orders.

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.”

Danping Lou, Chief Technical Officer, Hudong-Zhonghua Shipbuilding, added: “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.”

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.”

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