Seven Japanese companies, namely Asahi Tanker Co., Ltd., Idemitsu Kosan Co., Ltd., Exeno Yamamizu Corporation, Mitsui O.S.K. Lines, Ltd., Tokio Marine & Nichido Fire Insurance Co., Ltd., Tokyo Electric Power Company, and Mitsubishi Corporation on Wednesday (20 May) announced their establishment of the ‘e5 Consortium’.
The consortium aims to establish new ocean shipping infrastructure services through various initiatives to develop, realise, and commercialise zero-emission electric vessels.
The association will be based on the realisation of five core values: “electrification,” “environment,” “evolution,” “efficiency,” and “economics.”
Coastal shipping in Japan faces structural issues such as a shortage of mariners due to the aging of the seagoing workforce, not to mention the aging of the vessels, said the consortium.
In addition, the ocean shipping industry has urged the coastal shipping industry to reduce emissions of greenhouse gases (GHGs) as one of Japan’s measures to address climate change.
All seven corporate members of the ‘e5 Consortium’ are focusing their resources to develop the potential of electric vessels to solve these urgent issues.
The consortium says it aims to establish a platform that offers innovative ocean shipping infrastructure services based on electric vessels bringing to bear the strength, technological know-how, networks, and other advantages of each member company.
As the first phrase of the project, the consortium states it plans to launch the world’s first zero-emission electric tanker, powered by large-capacity lithium ion batteries, by March 2022. E5 Lab. Inc. will serve as the executive office of the e5 Consortium.
Manifold Times in late March reported Japanese marine transportation company Asahi Tanker Co. Ltd. deciding to build two of the world’s first zero-emission electric propulsion bunker tankers.
Related: Asahi Tanker orders world’s first zero-emission electric propulsion bunker tankers
Photo credit: e5 Consortium
Published: 22 May, 2020
Introduces newly redesigned office and latest Bunker Trader to the marine fuels industry.
MOU covers cooperation in the fields of marine lubricant procurement, ship chartering and spot business.
Eugenia Benavides, Director of Marine Fuels at Terpel and Timothy Cosulich, CEO at Fratelli Cosulich joins board.
Complimentary event will be held at the PARKROYAL on Pickering Hotel at 31 August, 2018.
Total bunker sales at Panama Canal was 448,093 mt in March compared to sales of 449,815 mt on year; VLSFO 0.5% sales dominated at 295,797 mt.
Sinopec’s bunker vessel Anshen 5 arrived at Anchorage Area No. 3 to supply 1,600 metric tonnes of low sulphur marine fuel for large tanker New Vista.
The bunker player at Hong Kong and Chinese ports shares with Manifold Times what local shipping sectors went through during the early days of COVID-19 and how business is resuming.
April bunker sales results released on Wednesday caught several players, who expected volume to fall due to lower international trade and COVID-19, by surprise.
‘OTPL has a strong group of employees who have the requisite expertise and experience in ship chartering and management, which has commercial value and should be kept intact.’
Company believes market and business partners ‘likely to have greater confidence and comfort in continuing business dealings’ if placed under judicial management, says Director.
Panellists covered several marine fuel related topics including bunker fuel quality testing, COVID-2019, and long term storage of VLSFOs experienced during the first 100-day period.
Latest development alleges Chua Chin Lan facing total debt of approximately USD 5 million due to personal guarantees undertaken with Innovek and Global Energy Trading.
