Silverstream Signs MoU with Chinese Shipbuilder

London-based air lubrication manufacturer Silverstream Technologies has signed a memorandum of understanding with Chinese shipbuilder Hudong-Zhonghua, it said August 27.

The MoU will see Silverstream’s air lubrication technology – the Silverstream System – integrated into Hudong-Zhonghua’s new building designs for its future LNG carriers in order to increase operational and fuel efficiencies, reducing fuel costs and emissions by between 6% and 8% for laden and ballast conditions, Silverstream said.

Silverstream said the MoU is a significant landmark as it is the company’s first LNG class newbuild project. "The signing of the MoU marks 12 months of in-depth collaboration between the two organisations, which culminated in the approval of Silverstream’s technology onto Hudong-Zhonghua’s LNG carrier newbuild designs. Both Silverstream and Hudong-Zhonghua will continue to collaborate to drive the sales process with prospective ship owners, working together to ensure the optimum efficiency and design on future orders from the yard," Silverstream said.

Hudong-Zhonghua is a subsidiary of the China State Shipbuilding Corporation (CSSC), China’s largest shipbuilding group.