Finnish wind propulsion specialist Norsepower has teamed with Japanese shipowner Iino Kaiun Kaisha and compatriot Mizuho Leasing to launch a leasing initiative for the Scandinavian firm’s increasingly popular Rotor Sail.
The initiative’s focus is to provide shipowners and operators with leasing packages for the Norsepower Rotor Sail which start at a minimum five-year term against a fixed monthly fee. Rotor sails have already been installed on two of the Japanese owner’s ships.
“The adoption of proven, commercialised energy efficiency products such as the Norsepower Rotor Sail is hindered by the traditional requirement for upfront investment. This initial investment can be a significant barrier to technology take-up for small to medium-sized shipowners and operators, despite the achievable fuel consumption, GHG and other emissions reductions,” Norsepower noted in a release today.
Yasuhiko Hashimoto, managing executive officer at Mizuho Leasing, commented: “Through our work in other sectors, we have seen first-hand how improving access to finance and providing flexible options for accessing sustainable technologies can make a real-world impact on improving environmental performance.”
The Norsepower Rotor Sail is a modernised version of the Flettner rotor. It uses a small amount of the ship’s electric power to rotate cylinder-shaped rotors to generate powerful thrust that saves fuel and reduces emissions.
Nearly 30,000 vessels across tankers, bulk carriers, gas carriers, roros, and passenger vessels currently on the water can benefit from such technology, the Finnish company claimed today.
