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4 Firms Form JV for Development of Electric-powered Vessels

2019/08/23 18:58
Sousuke Kudou, technical writer
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A rendered image of the completed zero-emission electric-powered tanker

Asahi Tanker Co Ltd (Chiyoda-ku, Tokyo), Exeno Yamamizu Corp (Chiyoda-ku, Tokyo), Mitsui O.S.K. Lines Ltd and Mitsubishi Corp announced Aug 6, 2019, that they have established a new company for the development and promotion of electric-powered vessels.

The new company, e5 Lab Inc, aims to replace coastal tankers operating in Tokyo Bay with zero-emission electric-powered tankers having large-capacity storage batteries by mid-2021.

Also, the four companies plan to (1) develop an electric-powered coastal vessel other than the tanker, (2) actively promote the development of ocean-going electric-powered vessels and (3) accumulate technologies, human resources and operation knowhow necessary for achieving the International Maritime Organization's (IMO) target of "reducing GHG (greenhouse gas) emissions by more than 50% by 2050, compared with 2008 levels," at an early date.

The four companies expect to use renewable energy as the power source of the electric-powered vessels but do not expect that the new company will develop a renewable energy-based power source by itself. They will consider power suppliers in cooperation with power companies, trading companies, etc and in consideration of economic efficiency.

In addition, they will will establish a platform for providing not only electric-powered vessels but also maritime infrastructure services using cutting-edge technologies.

The capital of the new company is ¥50 million (approx US$468,867, including capital reserve). The investment ratios of Asahi Tanker, Exeno Yamamizu, Mitsui O.S.K. Lines Ltd and Mitsubishi are 30%, 30%, 20% and 20%, respectively. The company claims that it will offer five values, "electrification," "environment," "evolution," "efficiency" and "economics," through innovations.