Norsepower and IINO Lines sign contract

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Norsepower Ltd., the leading global provider of auxiliary wind propulsion systems, and global shipping company IINO Lines, today announced a contract for the delivery and installation of two Norsepower Rotor Sails on a newbuild Very Large Gas Carrier (VLGC).

The new vessel – delivered today from Daewoo Shipbuilding & Marine Engineering Co., Ltd in Korea is ready to be equipped with two bespoke 20m tall Norsepower Rotor Sails side by side. The new, specially designed, 20m x 4m units have been developed to accommodate the vessel’s specific air draught limits. The units will be installed on board the vessel in Q2 2024.

The Norsepower Rotor Sail is an innovative, modernised version of the Flettner rotor. A small amount of electricity is used to spin the cylinder on the deck. The spinning cylinder and the wind create the Magnus effect to generate thrust supporting the main propulsion which reduces fuel consumption, emissions, and fuel costs.

Following calculations, Norsepower estimates the Rotor Sails will reduce the fuel consumption and CO₂ emissions from the vessel by approximately 4%. The performance of the Norsepower Rotor Sails is estimated by methodology verified by ClassNK. The saving will help the vessel meet international emissions reduction targets, including the Carbon Intensity Indicator (CII), and save on rising fuel costs, while also can be future proofing from anticipated carbon pricing.

Hiromi Tosha, President of IINO Lines, commented: “IINO Lines is committed to taking an innovative approach to meeting and exceeding local and international decarbonisation targets. Investing in sustainable vessels is central to our approach and working with Norsepower will enable us to use innovative, and proven technologies which fit in seamlessly with our operations. We appreciate all the concerned parties who made efforts to realise this innovative project. We look forward to the installation of the Rotor Sails to make the vessel greener than ever.”

Tuomas Riski, CEO of Norsepower, added: “With more stringent environmental regulation being enforced, interest in the Norsepower Rotor Sail is increasing significantly and our latest agreement shows how action is being taken today across multiple stakeholders including charterers. This is being underpinned by the real-life performance data from the 15 Norsepower Rotor Sails which are in action today. The data taken from eight years of operations demonstrates the reduction of fuel costs and emissions that are achieved, which in some cases is over 25%. It is also Norsepower’s third gas carrier installation contract. We are pleased to be helping IINO Lines, among many others, improve their environmental and commercial performance in the run up to 2030 emissions reduction targets as well as being part of the solution to help shipping reach its stretch goal of carbon neutrality.”

The LPG dual fuel ship will be delivered in March 2023 with the Norsepower Rotor Sail foundations fitted, and the units will be installed in Q2 2024 after the vessel is in operation.

The post Norsepower and IINO Lines sign contract appeared first on Project Cargo.

3 April 2023 |

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