MSC to cut up to 1.6 million tonnes of carbon emissions with more than 30 orders of the Silverstream® System, saving €250 million in fuel costs
The deal is the single largest order of Silverstream’s proprietary air lubrication system – a major endorsement of the technology as shipping deploys the latest efficiency solutions
LONDON, 21 September 2021: British clean technology company Silverstream Technologies has today announced that it has secured more than 30 orders of its market-leading air lubrication technology, the Silverstream® System, on existing orders of newbuild large container ships for MSC Mediterranean Shipping Company.
The order relates to a substantial portion of MSC’s newbuild pipeline, with a number of the vessels expected to be deployed on the world’s busiest trade lanes between Asia and Europe. Over the vessels’ lifecycles*, a carbon emissions reduction of 1.6 million tonnes – equivalent to the annual emissions of 350,000 cars** – could be achieved as a direct impact of having the System onboard. Over the same period, MSC will see an estimated fuel saving of €257.5 million*** (£220 million).
Silverstream’s technology has been independently proven to save 5-10% of fuel and emissions by generating a rigid carpet of air bubbles that reduce friction between the hull and the water. The System is effective in all sea conditions and has the highest utilisation rate – or the proportion of a voyage that it can be activated for – of any air lubrication technology on the market. It is also suitable for both newbuild applications and retrofit installations.
The significant order is the single largest installation programme that Silverstream Technologies has ever conducted of its market-leading air lubrication technology, and is a definitive indicator of MSC’s commitment to decarbonisation and the technology as a fuel and emissions efficiency solution. It is also the largest order of air lubrication technology from a single operator to date.
The vessels applying the System are expected to be delivered from shipyards in Asia in 2022-2024.
Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “This order of more than 30 Systems for MSC’s newbuild programme is a landmark moment for both Silverstream and for clean technology adoption across shipping. It is the single largest order of not only our technology, but of any air lubrication technology in the history of our market. We are extremely proud of this achievement and are ready for the challenge of managing our largest ever installation programme at five different shipyards.
“As one of the undisputed leaders of the container segment, MSC’s trust in our solution shows that proven clean technologies will play a crucial role in tackling the decarbonisation challenge. Once launched, these newbuild vessels will be some of the most efficient container ships on the oceans. We are pleased that our technology will play a central role in setting this high bar for efficiency and that we are further enabled to take another step closer to realising our ambition of air lubrication technology as a standard for all newbuild ships.”
Giuseppe Gargiulo, Head of Newbuildings, MSC, said: “As part of our significant efforts to further improve our environmental performance, we are continuously on the lookout for new innovative solutions that could help us achieve efficiency gains. Air lubrication technology is one of the proven technologies that can help ships to achieve fuel savings and reduce energy losses. With the right hull design and the substantial reduction in carbon emissions that the Silverstream® System can offer, we’ve found the perfect match to fit our fleet with an effective efficiency solution, and move us closer to a zero carbon future.”