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JAPANESE CONSORTIUM WILL COMMERCIALISE ZERO-EMISSION VESSEL

Thursday, May 21, 2020 

Seven Japanese companies - Asahi Tanker, Idemitsu Kosan, Exeno Yamamizu Corporation, Mitsui OSK Lines, Tokio Marine & Nichido Fire Insurance, Tokyo Electric Power Company, and Mitsubishi Corporation - have established 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.

Consortium member MOL points out that coastal shipping in Japan faces structural issues such as a shortage of mariners due to the ageing of the seagoing workforce, not to mention the ageing of the 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 attention on fulfilling the potential of electric vessels to solve these urgent 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.

As the first phrase of the project, the consortium plans to launch the world's first zero-emission electric tanker, powered by large-capacity lithium ion batteries, in March 2022. e5 Lab Inc 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. According to MOL, 'e5' represents provision of safe, reliable, and high-quality transport service, based on the realisation of five core values:  electrification, environment, evolution, efficiency and economics.

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