Silverstream grows LNGC order book

The latest orders for the Silverstream System take the company’s orderbook in the LNG segment to 36 vessels, representing a combined value of around £50 million.

“The Silverstream System is a perfect match for LNG vessels,” explained founder and chief executive, Noah Silberschmidt, “as the natural characteristics of these ships, as well as their operational priorities, mean that air lubrication is one of the only solutions that will enable operators to achieve their efficiency goals here and now.”

The orders – which come from major US and UK-based energy companies and northern European shipowners – will see Silverstream’s system installed on 10 LNGCs, six retrofits and four newbuilds.

Silverstream says its technology is well-suited to the LNG segment, as LNGCs have a large flat bottom that maximises the system’s friction-reducing capabilities. LNGCs fitted with the system reportedly see fuel and emissions savings of around 7 to 10%, which typically equates to a 1MW net power saving.

The system can reduce LNG boil-off and increase delivered cargo volume, or cut fuel consumption and associated emissions, depending on the operator’s commercial and sustainability priorities. This is because it can be used either to enable vessels to travel at higher speeds for the same fuel consumption, or to cut fuel consumption and emissions without sacrificing speed.

The company will be presenting at the Technical Conference at Gastech Singapore 2023 and exhibiting at location BC50.