CNET News.com reports: "It won't replace propellers, but an oversize paraglider-shaped kite could help cut fuel costs for ocean-going vessels as it also reduces their emissions. The airborne gear, from a Hamburg, Germany-based company called SkySails, has been tested on smaller ships over several years and now is being fitted for a cargo ship from Beluga Shipping, headquartered in nearby Bremen. The maiden voyage for the 130-meter MV Beluga SkySails is expected in 2007."
Its a very novel idea to leverage the power of the wind to help propel a cargo ship to cut fuel costs. In our modern age, I think sometimes we forget to look back to older technologies to see how we can improve upon it.