Investing in WASP: Article in ’NAFTEMPORIKH’
A very comprehensive article about the Investment and Performance potential of WASP (Wind-assisted propulsion / wind propulsion) technologies was published in the highly esteemed Shipping newspaper and Media NAFTEMPORIKH – which is read daily by all Shipping professionals and Executives in Greece.
In this article our CEO Konstantinos Fakiolas clarifies the applicability of the Mechanical Sails, of which WASP technologies are comprised, while indicated important Market updates related to the uptake of WASP technologies on ships.
Presently, more than 32 commercial cargo ships are installed with such WASP Mechanical Sails, with recording aggregately over 30 000 hrs of operations in seagoing conditions, thus proven their functionality.
It is scheduled for more than 70 ships to be further delivered by 2027 with WASP technologies, thus elevating the total fleet to over 100 ships: still relatively small amount compared to the global fleet, but increasing in fast paces, doubling the way the global fleet utilizes the winds as a green medium for assisting propulsion by reducing carbon and GHG emissions.
Big Charterers such as Cargill, Vale, Total, Shell have already engaged to test the WASP technologies and understand their functionality and performance potential in seagoing conditions.
WASP technologies have ben already installed in large Capesize bulk carriers, Kamsarmaxes, Large VLCC and Aframax Tankers, providing a reduction of their average fuel consumption by 5-10%.
WASP technologies can support commercial cargo ships compliance with forthcoming IMO and EU regulations (CII, FuelEU, EU ETS), thus further enhancing the business case and return on investment for such ships.
On average – and with today Capex prices – a typical WASP technologies mechanical sail cost within 1-2.5 Million USD per unit and can foster a 3-5% of energy saving for propulsion.
The performance of WASP technologies on board is further boosted when applying Weather/Wind routing, with the WASP (Wind-assisted propulsion / wind propulsion) technologies well-integrated automatically within the Power Management of the propulsion plant of the ship, and through a smart wind sensing technique utilized can further – the aggregate performance can be increased by a 7-15%.
The installation of WASP (Wind-assisted propulsion / wind propulsion) technologies on board, can also provide commercial competitive advantages to ship owners aiming to capture high wind intensities trades (i.e. such as North Transatlantic/transpacific, South America – South Asia and North Europe) – by reducing a lot their fuel consumption and carbon footprint.
The complete Article as published in NAFTEMPORIKI can be downloaded from below link: Download the article
