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🇸🇬 Singapore /Technology

Overseas Demand Soars for Electric Vessels, But Singaporean Adoption Trails

From CNA · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Singaporean electric vessel makers are experiencing strong demand from overseas markets like Japan and Indonesia.
  • Local adoption in Singapore remains limited due to concerns over costs, infrastructure, and operational challenges.
  • Companies like Pyxis and Yinson GreenTech are pushing for wider use of electric ferries and harbour craft to reduce emissions.

While Singapore's electric vessel sector is seeing a surge in international interest, local adoption is lagging, creating a disconnect between global demand and domestic implementation. Startups like Pyxis, whose electric ferries ply the Singapore River, and Malaysia-headquartered Yinson GreenTech, are finding eager buyers abroad, particularly in Japan and Indonesia.

Regulatory and decarbonisation targets by companies are becoming clearer, more firmed up.

· Mr. Tommy PhunThe founder of Pyxis explains the driving forces behind the increasing demand for electric vessels.

Pyxis founder Tommy Phun notes that demand for their electric vessels, including harbour craft, has doubled in the past two to three years. This growth is fueled by tightening emissions regulations and the increasing competitiveness of electric vessel operating costs, especially amidst high fuel prices exacerbated by global events. Yinson GreenTech is similarly securing commercial contracts in the UAE, moving beyond pilot projects.

The total cost of (electric vessel) ownership is starting to work quite well, especially for routes that are very heavily utilised, and especially so in this current high fuel price environment.

· Mr. Tommy PhunPyxis founder Tommy Phun discusses the economic advantages of electric vessels in the current market.

However, within Singapore, electric vessels constitute only a small fraction of the roughly 1,600 harbour craft. Yinson's senior business development manager, Eric Chean, points to a lack of confidence among operators who are weighing the significant costs and viability of electrification. The infrastructure required for charging and the operational adjustments needed present substantial hurdles.

Electric vessels still make up only a fraction of Singapore’s roughly 1,600 harbour craft.

· Mr. Eric CheanYinson's senior business development manager highlights the low adoption rate of electric vessels in Singapore.

From a Singaporean perspective, this situation presents a paradox. The nation champions green initiatives and technological innovation, yet its own maritime operators are hesitant to embrace electric vessels. This reluctance, driven by practical economic and infrastructural concerns, contrasts sharply with the enthusiasm shown by overseas markets. CNA, reporting on this, would emphasize the local challenges while acknowledging the global potential, highlighting the need for Singapore to bridge this gap to meet its own decarbonization goals and fully capitalize on the burgeoning green maritime technology sector.

What is n

· Mr. Eric CheanMr. Eric Chean begins to explain the major issues hindering electric vessel adoption in Singapore.
About this summary

Originally published by CNA in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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