True or false? Marine and electrification

Marine electrification does not significantly reduce carbon emissions.

FALSE.
By replacing diesel engines with electric motors, marine electrification can substantially reduce carbon emissions. Electric vessels, particularly when powered by renewable energy sources such as wind, solar, or hydropower, can achieve substantial reductions in greenhouse gas emissions compared to traditional fossil-fuel-powered vessels.

Even when electricity is partially generated from non-renewable sources, the overall emissions from electric propulsion are often lower due to the higher efficiency of electric motors and the ability to source energy from increasingly greener grids. Furthermore, marine electrification can reduce emissions of other pollutants like sulfur oxides and nitrogen oxides, which are harmful to both the environment and human health.

As more vessels transition to electric power, the cumulative effect will be a notable reduction in the maritime industry’s carbon footprint, aligning with global climate goals and sustainability efforts.

Electric ships will increase costs and hurt the shipping industry.

FALSE.
Electric vessels have the potential to reduce long-term operational costs for the shipping industry despite the higher initial investment in new technology.

Electric propulsion systems are generally more efficient than traditional diesel engines, converting a higher percentage of energy into usable power leading to lower fuel costs.

Electric systems also have fewer moving parts which reduces wear and tear, leading to less frequent maintenance and reduced maintenance and service expenses over the lifespan of the vessel. Over time, these savings can outweigh the initial investment also in retrofitting.

As battery technology continues to improve and becomes more affordable, the cost benefits will increase. Additionally, electric vessels can help shipping companies comply with increasingly strict environmental regulations, avoiding fines and penalties related to emissions, which could otherwise increase operational costs.

Electrically operated vessels also enhance corporate sustainability profiles, potentially attracting more business and investment from environmentally conscious stakeholders.