KCC and Silverstream Technologies agree deal to equip next four vessels with air lubrication technology

Oslo, 15 November 2023: Klaveness Combination Carriers ("KCC") announces a deal has been agreed to retrofit four additional vessels with the Silverstream® System, the proven air lubrication technology that reduces fuel consumption and the subsequent CO2 emissions.

The technology will be first installed on CLEANBUs Barracuda and Barramundi, with CABUs Balboa and Baffin due to follow. They join the already outfitted MV Ballard and upcoming MV Baru, bringing the total number of KCC vessels fitted with Silverstream's technology to six.

The Silverstream® System utilizes a series of air release units (ARUs) located along the flat bottom of the vessel. Oil-free compressors generate pressurized air that is sent through the ARUs, creating a layer of microbubbles that lubricate the hull, thereby reducing the friction between the hull and water. This reduction leads to a decrease in net fuel consumption and the subsequent CO2 emissions.

KCC CEO Engebret Dahm comments: "Improving the energy efficiency of our fleet through proven and reliable technologies is crucial to our commitment of delivering cost-effective decarbonization for our customers. Early performance data from the first installation of the Silverstream solution on MV Ballard in September confirms a fuel consumption reduction in line with our expectations. We look forward to expanding its rollout."

Silverstream Technologies Founder & CEO Noah Silberschmidt adds: "Our collaboration with KCC goes from strength to strength. They are a great collaboration partner for Silverstream Technologies and we are proud to support them on their journey towards net zero. The wet and dry bulk segment is an important one for Silverstream and we are pleased to be able to demonstrate the savings our Silverstream® System achieves in-service on these efficient combination carriers."

It is expected the Silverstream solution will reduce emissions by an average of 5-7% on KCC's vessels. In combination with the other energy efficiency measures underway in the fleet, this figure ranges approximately 15% when compared against performance as newbuilds. In addition to the agreed four vessels, KCC carries options for vessels built 2016-2021 to also equip the technology.

To read more about our environmental strategy and ambitions to decarbonize the fleet, see KCC's Environmental Strategy 2023-50 published on Investor Relations.

About Klaveness Combination Carriers ASA

KCC is the world leader in combination carriers, owning and operating eight CABU and eight CLEANBU combination carriers with three CABU vessels under construction for delivery in 2026. KCC's combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.

About Silverstream Technologies

Silverstream Technologies is a market-leading maritime clean technology company specialising in hull air lubrication. The company is headquartered in London with offices in Shanghai. The Silverstream® System reduces frictional resistance between the water and the hull surface, reducing net fuel consumption and associated emissions by an average of 5-10%. The system is unique in that it is the only proven air lubrication technology that can be retrofitted in 10 days or less, as well as being applicable to newbuilds. It lasts the lifetime of the ship, is complementary to and can be used in conjunction with other clean technologies, and return on investment is typically between two and five years.

Silverstream has successfully verified the savings that its technology creates through third-party assessment from organisations including Lloyd's Register, HSVA and the University of Southampton. Its customers include MSC, Maersk, Grimaldi, Shell, Vale, Carnival and ADNOC L&S, amongst other major industry names.

Notes to Editors

For more information, interviews or comment please contact:

Daniel Middleton
Head of Corporate Communications, Torvald Klaveness
Email: [email protected]

Rupert Andrews
Marketing and Communications Manager, Silverstream Technologies
Email: [email protected]

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