With fuel prices steadily on the rise and environment restrictions tightening, the global shipping industry is highly motivated to reduce its use of fossil fuels. Fuel savings and emission reduction technologies are a clear focus for the shipping industry and an integral part of the new green economy. By reducing fuel consumption, even the most conservative estimates indicate the annual value creation resulting from the Magnuss technology and its application in the near term is significant. Furthermore, the potential global environmental impact due to the large size and inherent international nature of shipping promises to be substantial.
