Newport Maritime Services (NMS) has partnered with Helsinki-based Norsepower, the leading global provider of auxiliary wind propulsion systems, as an exclusive wind technology supplier for its NMS platform.

The current demands on the industry to cut its emission means that new and innovative solutions need to be accessible for the maritime market. Ship operators and owners are also looking at smart technologies which will help them future proof their business, whilst also cutting time and cost.

In the exclusive partnership with NMS, shipowners will now be able to access Norsepower's Rotor Sail technology via the booking platform. Having this type of access will mean that ship owners and operators benefit from being able to access this technology whilst booking other services.

NMS' Managing Director, Ege Akcasoy said about the recent partnership: "We are delighted to establish an exclusive partnership with Norsepower. NMS encourages all customers to consider this exciting solution within our broad set of turnkey services to lead decarbonization efforts in the industry through higher efficiency and improved cost management."

Whilst, Tuomas Riski, CEO of Norsepower, said: "We are pleased that Norsepower has been chosen as Newport Shipping's exclusive wind propulsion provider. Retrofitting vessels with clean technologies such as wind propulsion is becoming an increasingly attractive option to decarbonise operations in light of the incoming EEXI and CII ratings systems, as well as to demonstrate alignment with ESG principles.

"To do this, shipowners and operators are having to make critical decisions now about how to adjust their fleets' operations to meet these goals while ensuring the choices they make are commercially viable in the long term. This is why having easy access to trusted information is so important. Newport Shipping's NMS portal will help to do this by increasing access to transparent and real-time information from credible partners. Not only will this enable better decision-making, it will improve the speed and efficiency of planning the retrofit process ."

Norsepower was founded in late 2012 with a mission to reduce the environmental impact of shipping by providing efficient, easy to use, and reliable auxiliary wind propulsion for ships through its Rotor Sail Solution technology. The concept of Rotor Sails was first devised by Finnish inventor and architect Sigurd Savonius in the 1920s, concurrently with German engineer Anton Flettner. Its vision is to set the standard in bringing sails back to ocean transportation, and empower shipping towards reaching the goal of zero carbon emissions.

Notes to editors

About Newport Maritime Services

Newport Maritime Services (NMS) is an online quotation and booking platform for the ship repair, conversion and retrofit markets. NMS cooperates with a strategic network of 15 shipyards with 38 docks capable of handling all vessel types and sizes with approximately 2,500 dockings annually across the Atlantic and Pacific trading zones through its parent company Newport Shipping (the "Group"). Utilising the Group's extended payment services, it is able to minimise cash outlay for shipowners. Newport Maritime Services Limited is registered in London and has presence in all major shipping centres - including Athens, Oslo, Istanbul, New York, Shanghai, Singapore and Hamburg.

About Norsepower

Norsepower Oy Ltd is a Finnish clean technology and engineering company pioneering modern auxiliary wind propulsion for the global maritime industry. Norsepower's Rotor Sail Solution is a proven, low-maintenance, easy to use, and reliable fuel-saving technology, supporting the decarbonisation of the shipping industry.

Since its establishment in 2012, Norsepower has generated more than €20 million of funding and has now installed Rotor Sails onboard five vessels, including the latest installation on the SC Connector. Each installation has made significant reductions to fuel costs and emissions, confirmed by independent verifiers such as ABB, NAPA and Lloyd's Register. Other shipowners, charterers, and shipyards have been convinced of Rotor Sail technology's benefits and are taking steps to study the technical and economic feasibility of wind propulsion on their fleet based on these positive results.

For more information on the Norsepower Rotor Sail Solution, please visit www.norsepower.com.

Contact:

Samantha Fisk

PR Manager

Samantha.fisk@newportshipping.com