We have been following the development of the Wind Challenger Project since it first was unveiled in 2012. Initially developed by the University of Toyko and now with the support of Mitsui O.S.K. Lines and Oshima-shipbuilding, the concept is for a sail assisted ship with retractable wing sails.
The design solves several problems with hybrid sail-assisted ship concepts. Because the masts and sails retract vertically, they dramatically reduce parasitic drag when the ship is motoring into the wind. The retracted masts also make cargo handling far easier. The design is also scalable. The Wind Challenger base model is a handy-sized bulk carrier but versions have been developed up to Capesize ships. Here is a video highlighting the latest incarnation of the project.