Norsepower agreement signals global installation capability for Rotor Sails
HELSINKI and SINGAPORE – Wednesday 21st April 2021
Norsepower Oy Ltd., the leading global provider of auxiliary wind propulsion systems, has signed a framework agreement with Offshore Technology Development (OTD), Keppel Offshore & Marine’s technology arm specialising in the provision of critical equipment which supports the offshore oil and gas, marine, and offshore wind industries.
Under the agreement, OTD can assist to provide the initial survey, design and engineering works, and organise the equipment installation for Norsepower’s Rotor Sails. Norsepower will deliver project management, delivery, and installation supervision to support smooth installation, servicing and warranty support of Rotor Sails.
The shipping industry is under intensifying pressure from regulators and non-regulators to decarbonise. The International Maritime Organisation’s (IMO) proposed Energy Efficiency Existing Shipping Index (EEXI) and Carbon Intensity Indicator (CII) are likely to come into force in 2023. Non-regulatory drivers from financiers, through the Poseidon Principles, and cargo owners, under the Sea Cargo Charter, have also ratcheted up the pressure to modernise fleets. In order for shipping to manage this transition at scale, more collaboration between reliable, innovative and independent engineering experts and technology providers is required.
Today’s announcement represents a significant step in fully commercialising the Rotor Sail which is capable of achieving, on average, between 5 and 20% reductions in carbon and other emissions, as well as fuel and fuel costs in suitable conditions.
Imminent regulatory drivers from the IMO, including EEXI and CII, pressure for shipping to enter an Emissions Trading Scheme, and non-regulatory drivers are collectively having an immediate impact on how charterers are selecting their vessels for the near-term as well as further ahead. Now that fuel efficiency and environmental performance are becoming critical to shipowners’ survival, it is clear that wind propulsion can provide significant emissions reductions and fuel savings while making vessels more attractive to charterers. The Norsepower Rotor Sail Solution is the first third-party verified and commercially operational auxiliary wind propulsion technology for the global maritime industry. The solution is fully automated and detects whenever the wind is strong enough to deliver fuel and emission savings, at which point the Rotor Sails start automatically. Norsepower has completed five installations to date and is due to complete its sixth installation of five tilting Rotor Sails on a bulker during the first half of this year.