Shipping’s Green Mile
Flows of money were already pouring into sustainable funds prior to Garth Brooks rendition of Amazing Grace at “green president” Biden’s inauguration. Electric Vehicle maker Tesla increased its market cap by an astonishing USD 500 billion in 2020. It is now more valuable than the world’s top eight automakers combined, owing to cutting edge lithium-ion battery technology and the visionary Elon Musk who takes more risks than most. If only such equity returns were possible in the margin thin shipping business.
Last month, Stena Line took the bull by the horns in the RoRo sector by announcing the world’s first fossil free fully battery powered RoPax vessel of its size. At 200 meters in length, the lightweight Stena Elektra will have capacity for 1,000 passengers and 3,000 lane meters of freight, capable of 50 nautical miles on a single charge targeting the Gothenburg – Frederikshavn route. Stena are looking to add fuel cells, hydrogen, and biofuels t