Tanker Profits Create Opening for Wind Propulsion Investment | Mariner News
Extreme profits currently enjoyed by tanker operators present a significant opportunity for investment in wind propulsion technology, according to Gavin Allwright, Secretary of the International Windship Association (IWSA).
Allwright suggests that once market volatility, particularly in critical areas like the Strait of Hormuz, stabilises, wind propulsion should be a high-priority area for operators to invest their accumulated capital. While current earnings are described as “extreme,” barriers to immediate adoption of wind technology reportedly persist.
This perspective implies that even with substantial financial resources, geopolitical stability could be a prerequisite for significant strategic investments in decarbonisation technologies. Such a scenario suggests a potential future surge in demand for wind propulsion solutions, contingent on a more predictable operating environment, rather than an immediate allocation of present earnings.
Major shipping entities are already exploring the potential of wind technology. Eastern Pacific Shipping asserts wind can cut emissions by over 20%, while Wallenius Wilhelmsen is integrating Oceanbird wind sails onto car vessels. Frontline has also noted continued “unicorn territory” for the VLCC segment, underscoring the strong market conditions driving these profits.
