Seven companies have announced the establishment of the “e5 Consortium,” with the goal of establishing new ocean shipping infrastructure services through various initiatives to develop, realise, and commercialise zero-emission electric vessels.
The seven companies include Asahi Tanker, Idemitsu Kosan, Exeno Yamamizu Corporation, Mitsui O.S.K. Lines, Tokio Marine & Nichido Fire Insurance, Tokyo Electric Power Company, and Mitsubishi Corporation.
E5 is based on the realisation of five core values including 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 and aging vessels. 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. The seven e5 Consortium corporate members are focusing their attention on fulfilling the potential of electric vessels to solve these issues. The consortium 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.
The first phrase of the project will see the launch in of the world’s first zero-emission electric tanker, powered by large-capacity lithium ion batteries. The launch is planned for March 2022. e5 Lab will serve as the executive office of the e5 Consortium.
The e5 Consortium will promote the sustainable growth of coastal shipping in Japan and contribute to the nation’s social and economic development by providing added value to the coastal shipping industry through the development and introduction of advanced vessels.