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AIR LUBRICATION ORDERED FOR EIGHT HHI LNG CARRIER NEWBUILDS

Monday, July 27, 2020 

Silverstream Technologies has secured a deal to install its Silverstream air lubrication system onboard eight newbuild LNG carriers being constructed at Hyundai Heavy Industries and Hyundai Samho Heavy Industries in South Korea.

Four of the 174,000 m3 LNG carriers are owned by Knutsen LNG. A further two are owned by investors advised by JP Morgen Asset Management. The last two vessels are owned by Korea Line Corporation. All have secured long-term charter agreements with Shell.

The Silverstream system will help to increase operational efficiency and reduce fuel burn and associated emissions onboard the carriers, with significant net savings expected once the vessels are in operation. The system is regarded as particularly effective with the hull form and operational profile of LNG carriers, and is suitable for both newbuild and retrofit applications.

Noah Silberschmidt, CEO, Silverstream Technologies, said: “We are delighted to secure this ground-breaking major order of the Silverstream System. The support shown by the yard, owners, and charterers for our technology in the LNGC sector has been substantial and is hugely encouraging in terms of the potential to support the wider global shipping fleet. Working with some of the best known names in the maritime sector is an immense privilege and our expert team of commercial and supply chain professionals, alongside our world-beating naval architects and engineers, are fully focused on installing, testing, and commissioning our System on these vessels – and delivering market-leading efficiency savings once they are in operation.”

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