Odfjell is to trial two new green technologies over the next 12 months as it looks to improve fuel efficiency and reduce its carbon footprint.
The chemical tanker owner said it will install an air lubrication system on one pilot vessel in the second half of this year, which it hopes will reduce CO2 emissions by 6% to 8%.
The Oslo-listed shipowner said it will also install suction sails on another vessel during the first half of next year, which could lead to fuel savings of up to 9% for the worldwide trade on average.
However, the company said there was potential for significantly “higher savings” from this technology on those of its trades with favourable wind conditions.
Jan Opedal, manager of projects at Odfjell, said: “Since 2020, we have been studying sail technologies as a potential energy-efficiency measure for our fleet.
“This technology has significant potential to reduce emissions by harvesting the energy on the ship itself and transforming it directly into a forward thrust.”
Odfjell said it has decided to go forward with two new novel technology projects, with the aim of further improving fuel efficiency on its vessels.
In June, DNV verified that Odfjell had achieved a “more than 50% reduction of carbon intensity compared to the IMO 2008 benchmark”.
Odfjell has previously used a mixture of methods to reduce its fuel usage and carbon emissions, including renewing its fleet with newer, less-polluting vessels, improved weather routing and regular hull and propeller cleaning.
News of the green technology trials came as the company reported a 75% year-on-year increase in second-quarter net profit to $52.6m.
“Odfjell delivered another record strong quarter on the back of a profitable contract portfolio and solid operational performance,” chief executive Harald Fotland said.
“We expect the demand to be reduced somewhat in the third quarter of 2023 in line with seasonal effects.
“Further renewals of COAs should offset some of this effect and we expect only a marginal decrease in our TCE in the third quarter,” he said.