It has issued a request for proposals (RFP) to shipowners or charterers for a grant to help finance work on a single-vessel which will result in a minimum fuel savings of 10–15%.
Up to $200,000 will be granted by the non-profit organization to fund the installation of continuous monitoring equipment.
CWR says it will also commission independent, third-party analysis of the collected data, which will verify the benefits of the multi-technology retrofit and provide a 'proof of concept' for the entire industry.
CWR says analysis of over 100 existing ships has shown that vessels can achieve efficiency gains of at least 10–15% by retrofitting with a bundle of proven energy efficiency technologies such as advanced hull coatings, ducts, fins, and new propellers.
The grant will cover a portion of the total retrofit bundle, with at least 50% of the remaining technology costs to be financed by a third party.
This project is funded by the Dutch Postcode Lottery, which recently awarded EUR1m ($1.1m) to the Rocky Mountain Institute and CWR to expand their efforts in the shipping industry.
"Leading industry banks, including HSH Nordbank and KfW IPEX Bank, have confirmed that more-efficient vessels enjoy better marketability, greater revenue potential, and a more-attractive risk profile for financiers and shipowners," said the CWR.
"In consequence, the technology bundle will yield economic benefits in the long term too, positioning the vessel for financial gains beyond the immediate $200,000 award.
"This project gives shipowners and charterers the chance to capitalise on market trends, gain a competitive advantage, and provide leadership for the maritime industry."
Victoria Stulgis, Senior Associate, Carbon War Room commented: "This is an opportunity to highlight the savings from a technology-bundle approach through analysis of real, operational data.
"We're excited to work with a forward-thinking owner or charterer to deliver a model that can be easily scaled across the industry, save money, and reduce emissions at the same time."
