2022-09-08 13:25

Green Insurance Promotes the Development of New Energy Electric Ships

PM120E inland container electric ship

Accompanying the increasing number of domestic electric ship orders, financiers, shipowners, and even terminal operators have raised the demand for electric ship insurance. Compared to traditional ships, one major innovation of electric ships is the change in the propulsion system, which consequently introduces a series of new risks.

The dedicated clauses for new energy vehicle insurance have been in place for more than half a year. Compared to traditional vehicle damage insurance, new energy vehicle damage insurance emphasizes coverage for fire and combustion incidents, including the vehicle body and the three-electric (battery, electric motor, and electric control) system. Similarly, our electric ship insurance should cover these new risks potentially caused by batteries.

The electric ships designed by General Energies (Junye Electric Ship Technology) are equipped with independently developed container power batteries (Powerbox). Along with dedicated green insurance products, these can cover various risks associated with battery fires during navigation and charging onshore.

Risk map of marine lithium batteries

It is reported that some insurance companies within the industry are actively developing more dedicated green insurance products related to electric ships. It is hoped that with the support of the insurance industry, the electric ship market will see a brighter future.