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 October 2, 2015 - 6:47 AM EDT
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Odfjell to reduce fuel consumption and emissions with up to 20% with new propulsion concept

Odfjell is upgrading the propulsion system for 19 vessels with new technology to optimise energy efficiency. The vessels will be equipped with new energy efficient propeller blades, rudder-bulb and will undergo technical upgrades of the main engine, turbo chargers and shaft generator. These combined upgrades will reduce fuel consumption and emissions by up to 20%. The vessels will be amongst the most energy efficient chemical tankers in the world, and will achieve the highest score on the Rightship energy rating, A+.

20% - A major achievement
The initial model tests, which were carried out at Norwegian Marine Technology Research Institute (Marintek ), indicated a reduction in fuel consumption of about 15% for our series of eleven 37,000 deadweight (dwt) vessels (Kvaerner class). Sea trials before and after the upgrade show an overall efficiency gain of more than 20%. With such excellent result we will also upgrade additional eight 40,000 dwt vessels (Poland class). The concept has been developed by Odfjell, in close cooperation with MAN Diesel & Turbo, but also Grenaa Motorfabrik and ABB AS Turbocharging. The upgrade includes highly efficient Kappel propeller blades, fairing cone and rudder bulb, shaft generator gearbox and Odfjell determined settings.

Dr. Kourosh Koushan, Research Manager at Marintek, acknowledges Odfjell's initiative and says:

- We are involved in many projects related to energy saving and the reduction of emissions. Odfjell is one of our clients showing great technological interest and willingness to apply energy saving measures to reduce emissions. In this particular project we documented an energy saving in excess of 15% for the Kvaerner class, which is high compared to many other vessels tested. In the second project for Odfjell we documented a saving of approximately 20% for the Poland class, which is exceptional.

-          The full scale sea trial for our 37,000 dwt vessel concluded with a 20% reduction. This is even better than the model test results and is as such highly satisfactory, says Helge Olsen, SVP Ship Management in Odfjell.   

In August, Bow Clipper (37,000 dwt) was the first vessel to be upgraded. The successful upgrading of this Kvaerner class vessel was done during scheduled dry-docking. The remaining 18 vessels are planned to be upgraded within 2017.

Energy rating from D+ to A+
Due to the significant reduction in emissions the vessels, previously rated D+,  will improve the energy rating to A+ on the Rightship's energy rating. As such the vessels will be as equally energy efficient as the eco-design vessels being built today. The last four newbuilding's delivered to Odfjell are also rated A+. The upgraded vessels will result in Odfjell managing one of the most eco-friendly fleet within the chemical tanker segment. 

-          This investment in vessel efficiency demonstrates Odfjell's leadership in environmental sustainability. It is also a smart move from a business perspective positioning Odfjell advantageously in the market, says Warwick Norman, CEO of RightShip.

-          This project shows Odfjell at its finest; it is a result of a true team effort, and demonstrate the deep know-how  of our organisation, says Kristian Mørch, CEO Odfjell SE

For more information please contact:
Helge Olsen, Senior Vice President Ship Management, Odfjell SE
Tel: + 47 55 27 00 00

Please find attached images of Bow Clipper with the upgraded propulsion system.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Odfjell SE via Globenewswire


Source: Thomson Reuters ONE (October 2, 2015 - 6:47 AM EDT)

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