Global merchant shipping electrification is poised to take off with the cost and reliability of battery technologies at last becoming acceptable.
According to an analysis by the maritime investment banking arm of Clarkson Group published in November, of the more than 400,000 commercial vessels around the world today, only 575 or so are currently fitted with electric and hybrid propulsion systems.
Compared with the still very modest advances made with onshore logistics, maritime’s track record thus far has been lamentable.
But Clarksons Securities report that the number of electric and hybrid vessels is set to “increase exponentially” with orderbooks for new, greener ships at last starting to swell rapidly.
“As demand to reduce emissions from shipping accelerates, the utilisation of batteries has proven to be both a functional and commercial solution for short-distance, high…
Batteries becoming one answer to Big Shipping’s decarb dilemma
