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challenges – and now is the time to recognise their potential for innovation and efficiency, argues Noah Silberschmidt, CEO of Silverstream Technologies
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hipping is at a crossroads. The countdown to 1 January 2020 – and the implementation of the global 0.5% sulphur content cap in marine fuel – is well and truly under way, and owners need to decide on their
strategy for compliance. Do they use more expensive distillate fuels to comply with the new regulations? Do they absorb the cost of installing and operating emissions abatement technologies? Or do they focus on converting their fleets to operate on new fuels, like LNG? The 2020 global sulpur cap will impact all
budgets and bottom lines, regardless of which route ship owners and fuel payers choose to achieve compliance. The most likely choice for shipping companies in the short-term will be the adoption of distillates and distillate-based fuels, but increasing fuel bills will add additional strain to already over-stretched operating costs. Solutions that will help ship owners to mitigate some of these increased costs already exist in the market in credible, proven clean technologies that increase operational efficiencies and reduce fuel burn. Awareness is growing, and in an industry of tight margins – and one coming under increasing external pressure to demonstrate an environmental conscience and improve its sustainability – there is now an acceptance of the benefits of clean technologies in principle, if not in widespread practice. Charterers are recognising the importance
of innovation too. Increasingly, chartering decisions are being made with sustainability in mind, and with a view to identifying the most operational and environmentally efficient vessels. In a commercial environment where vessel utilisation can be the difference between success or failure, owners must understand that clean technologies help demonstrate their eco-credentials and corporate responsibility, and increase their competitive advantage. Credible and proven clean technologies
have a key role to play in this industry. In order to meet the challenges of the coming years, shipping as a whole needs to embrace its latent potential for innovation and efficiency.
market conditions – and today the system is installed on multiple vessels, with a strong pipeline of orders to be announced over the coming year. The Silverstream System inceases a vessel’s efficiency somewhere between 5% and 10%, depending on its particular characteristics. The International Maritime Organization
(IMO) is also recognising the impact of clean technologies too. Our work with GloMEEP, the IMO’s project aimed at supporting the uptake and implementation of energy-efficiency measures for shipping, has shown that there is a definite appetite for supporting innovation at the regulatory level. Through initiatives such as the IMO’s
Global Industry Alliance, the industry is now coming together to reduce its environmental impact in a way that also profitably navigates the challenges brought about by impending environmental regulations. Start-up enterprise will be instrumental to
margins, there is now an acceptance of the benefits of clean tech
Awareness is growing and, in an industry of tight
The industry is experiencing significant
change in a short time, and we believe that forward-thinking companies have a responsi- bility to drive the proliferation of innovative technologies to help the industry face these challenges. The time to drive a step change in shipping’s approach to both its environmental impact, and navigating its inevitable commer- cial challenges, is upon us. For the last seven years, Silverstream’s
mission has been to lay down a blueprint for how credible clean technologies can be developed and commercialised within this industry. We have successfully brought our air lubrication technology, the Silverstream System, to market – often against challenging
this ambition. The operational installations of the Silverstream System came as a ‘bucking of the trend’ for shipping. It proves that, despite the sector (and, indeed, the wider economy) still recovering from one of the toughest downturns in living memory, innovation is recognised and valued if it is demonstrated with credibility and transparency. We also believe that a changing interna-
tional attitude regarding the environment, and particularly how businesses can improve their sustainability credentials, has trickled down into our industry. However, to capitalise on this, it remains the responsibility of clean technology manufactur- ers to ensure that they take ownership in bringing their innovations to market in the right way. Sea trials – and the savings figures that result from those trials – must be conducted and analysed to the highest ISO standards and verified by a third party. This is the only way to drive widespread
uptake, which in turn will see a significant reduction in greenhouse gas emissions from the global shipping industry, whilst also protecting the commercial interests of ship owners and operators.
Reducing environmental impact Clean technologies will help shipping overcome some of its greatest
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