To reduce drag on the hull, Mitsubishi Heavy Industries' new design blows bubbles from holes positioned on the bottom of the ship. This change reduces fuel expenditure, and therefore CO2 emissions and cost. The agricultural conglomerate Archer Daniels Midland has ordered three such ships, which should be finished in 2014.
Link -via DVICE| Image: Mitsubishi Heavy Industries
While superficially similar, supercavitation refers to the lowering of water pressure surrounding a submerged body to below vapor pressure, by means of the Bernoulli's principle. By such the object is actually traveling through water vapor instead of water, greatly reducing drag.