COSCO SHIPPING Development : Support China’s 30/60 carbon goals by building a demonstrative vessel electrification proj...

Support China's 30/60 carbon goals by building a demonstrative vessel electrification project Cloud-based signing ceremony for 700TEU electric container ships was successfully held

发布时间： 2022-03-21

COSCO SHIPPING's cloud-based signing ceremony for two 700TEU electric container ships for transportation on the main line of Yangtze River was held on March 18, 2022. The signing ceremony was attended and witnessed by leaders from the National Development and Reform Commission, the Ministry of Transport and the Ministry of Industry and Information Technology, HUANG Xiaowen (Deputy GM, COSCO SHIPPING), SUN Feng (President, China Classification Society), YAN Jun (President, Shanghai International Port), DONG Aihua (Vice Director, Shanghai Municipal Transportation Commission), XIE Kaiyun (Vice Director, Shanghai Maritime Safety Administration), GUO Tao (Deputy Director, Hubei Industry and Information Technology Bureau) and TU Pinghui (Vice Director, Wuhan New Port Administration Committee). This cloud-based ceremony has multiple venues in Beijing, Shanghai, Tianjin, Nanjing, Yangzhou and Changzhou. A total of 51 partners joined the online meeting and witnessed the signing, celebrating this key milestone in green and smart shipping development of our golden waterway Yangtze River. Some of these partners are China Aviation Lithium Battery Technology, China Energy Equipment, China Three Gorges Technology, Yangtze River Green Development Fund, China SOE Hybrid Ownership Reform Fund and Shanghai University. [Link] Speakers at the signing ceremony include HUANG Xiaowen (Deputy GM, COSCO SHIPPING), LIU Chong (GM, COSCO SHIPPING Development), YU Jianzhong (Chief Accountant, COSCO SHIPPING Heavy Industry), CAI Yanxian (Vice President, China Classification Society), DONG Aihua (Vice Director, Shanghai Municipal Transportation Commission) and LIU Jingyu (Chairman, China Aviation Lithium Battery Technology). COSCO SHIPPING's Vessel Leasing unit signed an agreement to build 700TEU electric container ships with COSCO SHIPPING Heavy Industry (Yangzhou), and a vessel lease agreement with Shanghai Panasia Shipping. In view of Yangtze River Economic Belt's priority on ecology and green development, COSCO SHIPPING Development took the lead and coordinate related companies across the industrial chain to study the standardization of electric container ships on the main line of Yangtze River. The goal was to build a demonstration area for green, zero-carbon and smart shipping, thus facilitating the transformation of Yangtze River waterway transportation. In addition, the experience of green shipping on inland waterways and vessel standardization will help China to achieve its 30/60 carbon goals (i.e., peak carbon emissions by 2030 and carbon neutrality by 2060). Building electric ships that are green, zero carbon and smart The Yangtze River Main Line Electric Container Ship project selected 700TEU container ships as the first pilot vessel type for the transition towards green, zero carbon, smart and electrification. The container ships adopted the battery-as-a service model, and are powered by containerized batteries that can be swapped. The first shipping line was from Wuhan to Shanghai. The battery can be swapped at any port along the river to ensure the whole journey is powered purely by electricity. On top of vessel electrification, these container ships will be equipped with smart operation and maintenance, smart driving assistance systems, visualized waterway alerts and other intelligent technology, thus further improving the safe driving capabilities. These 700TEU container ships, once built, will be leased to and managed by Shanghai Panasia Shipping (part of COSCO SHIPPING Lines). Looking ahead, guided by China's overall strategy, COSCO SHIPPING Development will strive to work out a solution for green and zero-carbon development of Yangtze River waterway transportation and related implementation route. This model can be then expanded to the entire Yangtze River and other inland rivers and coastal waters, such as Pearl River, Bohai Bay and North Bay of Guangxi. This will help China become a global leader in green and zero-carbon shipping. Support coordinated development of the electric ship industrial chain Standardization of vessels used to transport goods along the main line of Yangtze River and green and smart transition are key initiatives to implement the development strategy of Yangtze River Economic Belt. They also played an important role in driving safe development and green transition of Yangtze River shipping. COSCO SHIPPING Development built advanced zero-carbon smart ships and worked to improve its capabilities to research, develop and manufacture battery packs for vessels. The Company also strive to build a charging and battery swap network across key waterways in China. Meanwhile, the Company will focus on developing batteries for high-end special containers and green energy industries. It will partner with investors and strategic investors, such as China Aviation Lithium Battery Technology, to support coordinated development of this industrial chain and jointly drive technology innovation and industrialization of electric ships in China. [Link] The successful research and development of 700TEU electric container ship for the main line of Yangtze River and the signing of container ship project is a key milestone for the electric ship project. It also represents a key initiative to drive green shipping along China's inland waterways and coastal waters. COSO SHIPPING Development will work with its partners and leverage this contract signing to drive green shipping and secure a better future.