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August 8, 2019 | Battery Powered Ships on Deck

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Four Japanese companies are building the world’s first zero-emission tanker to be completed mid-2021, powered by large-capacity batteries.  See Battery-Powered ships next up in the battle to tackle emissions:

While fully-electric ships have struggled to penetrate major markets, momentum is gathering. Rolls-Royce Holdings Plc said last year that it had started offering battery-powered ship engines, while Norway’s Kongsberg Gruppen ASA is developing an electric container vessel. Still, there are challenges in making the technology applicable to ships navigating thousands of miles across oceans because of the need to recharge batteries.

Industries from auto to aviation are also looking to go electric. Komatsu Ltd., the world’s second-biggest construction equipment, has developed its first-battery powered electric diggers. Electric-plane company Eviation Aircraft Ltd., which has signed up its first customer, predicts that in a few years it may not be able to keep up with orders.

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August 8th, 2019

Posted In: Juggling Dynamite

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