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Tuesday, May 30, 2023

Crown Electric acquires Kuwait zero-carbon shipping deal

Crown Electric Ships and Boats Dubai, a pioneering electric boat manufacturer, has announced an agreement with Kuwait’s Bader Sultan Group to develop and supply a fleet of zero-emission electric yachts to the region.

The $10 million initial order is used to develop a fleet of electric boats designed specifically for the Middle East market, ranging from a 7.3-meter electric cabin cruiser to a 23.9-meter electric catamaran, the company said.

Ayman Badr Sultan al-Essa, managing director of Badr Sultan Group, and Sonu Jayan, chairman of Crown Electric Ships and Boats, signed the preliminary agreement. The deal was launched at the recently concluded defense expo Idex/Navdex 2023 in Abu Dhabi.

“Market needs for catamarans and day cruisers have been met with products developed for international markets. The Middle East market has special requirements due to heat, humidity and sea conditions,” said Ayman Badr Sultan al-Essa.

“Crown Electric Ships and Boats has extensive experience in developing purpose-built electric vessels, including unmanned electric vessels for the defense industry, and has taken up the challenge of developing sustainable electric vessels suitable for the Middle East.”

Crown Electric Ships and Boats vice-chairman Lekshmi Salaja said the deal would have a significant impact on sustainability and net zero initiatives in the Middle East.

“A mid-sized cruise ship emits the equivalent of a million cars, and Crown has been developing electric boats from 7m to 23m and is moving towards sustainable superyachts,” she added.

Crown is also considering building an all-electric boat and yacht manufacturing facility in the UAE, which would support the local economy by creating jobs.

“The construction of electric boats and yachts will give a big boost to the economy of the Middle East as a manufacturing hub. The electric yacht market is in the same position as the electric vehicle market in 2011, thanks to advances in battery technology over the past few years,” said Sonu Jayan.

The MENA region is home to 12.6% of the world’s superyachts. “The combined revenues of the world’s top three shipbuilding companies increased by more than $100 billion, surprisingly none of which came from the Middle East,” he added. – trade arab news agency

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