Tradewinds feature explores Norsepower’s springboard for success

Norsepower’s CEO Tuomas Riski recently spoke with TradeWinds journalist Bob Rust about the company’s imminent expansion from single-ship to fleet-wide installations of its Norsepower Rotor Sail™️ product.

The company is snatching more of the €1bn global wind-assist market with its product’s proven emissions-cutting potential of 8-25%, or even more. These sorts of cuts can bump shipowners up a CII ranking, and Riski commented that while northern hemisphere routes offer some of the biggest gains, tramp traders will also find the numbers compelling.

Manufacturing of the sails, which can be 35-metre high, is being scaled up to meet demand. European production capacity is likely to reach 20 units this year, along with capacity set to rise to 50 alone in China. Norsepower will add manufacturing sites to support shipowners looking to benefit from fleet-wide deals.

The investment pays for itself in about four years, says Riski, and Rust quotes VesselsValue figures where the resale value of a tanker fitted with Norsepower Rotor Sail™️ sold for $0.8 million more than a similar vessel without the clean technology addition.

Norsepower has been in business since 2012 and is now adding specialist CO2 carriers to its reference list of ro-ros, bulk carriers and tankers. Fleet-wide deals are expected to be announced in the coming months, and this will propel the company forward from promising start-up to profitable growth.

Norsepower is on a roll!

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