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ROTOR SAIL AGREEMENT SIGNED IN SINGAPORE

ROTOR SAIL AGREEMENT SIGNED IN SINGAPORE

Wednesday, April 21, 2021 

Provider of auxiliary wind propulsion systems Norsepower of Finland has signed a framework agreement with Offshore Technology Development (OTD), Keppel Offshore & Marines technology arm specialising in the provision of critical equipment which supports the offshore oil and gas, marine, and offshore wind industries.

Under the agreement, OTD can assist to provide the initial survey, design and engineering works, and organise the equipment installation for Norsepower’s Rotor Sails. Norsepower will deliver project management, delivery, and installation supervision to support smooth installation, servicing and warranty support of Rotor Sails.

With the shipping industry under intensifying pressure to decarbonise, and the IMO's proposed Energy Efficiency Existing Shipping Index (EEXI) and Carbon Intensity Indicator (CII) likely to come into force in 2023, and with non-regulatory drivers from financiers, through the Poseidon Principles, and cargo owners, under the Sea Cargo Charter, pressure to modernise fleets is increasing. In order for shipping to manage this transition at scale, collaboration between reliable, innovative and independent engineering experts and technology providers is required.

Norsepower says the announcement represents a significant step in fully commercialising the Rotor Sail which is capable of achieving, on average, between 5% and 20% reductions in carbon and other emissions, as well as fuel and fuel costs in suitable conditions.

Imminent regulatory drivers from the IMO, including EEXI and CII, pressure for shipping to enter an Emissions Trading Scheme, and non-regulatory drivers are collectively having an immediate impact on how charterers are selecting their vessels for the near-term as well as further ahead. Now that fuel efficiency and environmental performance are becoming critical to shipowners’ survival, Norsepower believes that wind propulsion can provide significant emissions reductions and fuel savings while making vessels more attractive to charterers.

The Norsepower Rotor Sail Solution is the first third-party verified and commercially operational auxiliary wind propulsion technology for the global maritime industry. The solution is fully automated and detects whenever the wind is strong enough to deliver fuel and emission savings, at which point the Rotor Sails start automatically. Norsepower has completed five installations to date and is due to complete its sixth installation of five tilting Rotor Sails on a bulker during the first half of this year.

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