Silverstream strikes deal with Hudong-Zhonghua

Air lubrication specialist, Silverstream Technologies, has signed a memorandum of understanding with Hudong-Zhonghua Shipbuilding that will see the Silverstream® System integrated into the shipbuilder’s future designs for LNG carriers. The air lubrication technology is expected to reduce fuel costs and emissions by between 6% to 8% in laden and ballast conditions.
The China State Shipbuilding Corporation subsidiary is the country’s largest shipbuilding group and a leading builder of LNG carriers. With capacity for up to eight ships in the yard, Hudong-Zhonghua is well-placed to take advantage of buoyant demand in the LNG sector. Noah Silberschmidt, Silverstream Technologies’ CEO, commented: “We are delighted and honoured to have signed this landmark agreement with Hudong-Zhonghua, one of the world’s largest and most respected shipyards. 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.”