Propeller retrofit demand soars four-fold since 2020
However, very few ships are equipped.
A new study showed that demand for advanced propeller retrofits and energy saving devices (ESDs) has nearly quadrupled since 2020 as shipping owners and operators boost efforts to meet tightening emissions regulations.
The Energy Saving Devices Retrofit Report from Lloyd’s Register (LR) noted that high-efficiency propellers can deliver fuel savings of between 3% to 10%, whilst popular devices such as rudder bulbs can achieve 3.5% reductions
However, only 1.74% of the global fleet currently features the rudder bulb.
When it comes to the orderbook, 8.42% of vessels on order choosing to install ESDs. The proportion of vessels on the orderbook fitted with a particular device is between two and six times higher than for those vessels already in service.
The report identifies bulk carriers, tankers and container ships have the highest adoption rates due to their substantial fuel consumption profiles. Notably, 16.87% of bulk carriers on order will feature rudder bulbs compared to just 6.74% of the existing fleet. In the container ship segment, rudder bulbs, stator fins, and boss cap fins are each present on at least 10% of vessels.
In total, more than 10,000 vessels in the existing fleet and orderbook feature some form of propulsion energy-saving technology from newbuild.
