{"text":[[{"start":8.99,"text":"CATL, the world’s biggest battery maker, has vowed to “spare no effort” to electrify parts of the global shipping fleet as it tries to replicate its success with electric vehicles on the high seas."}],[{"start":21.97,"text":"The Chinese group, which controls 37 per cent of the market for EV batteries and 22 per cent for energy storage systems in power grids and data centres, has deployed batteries on about 900 ships, mostly smaller craft operating close to the Chinese coastline, at ports or in rivers."}],[{"start":41.2,"text":"Electrifying parts of the maritime sector is central to Beijing’s broader goals of decarbonisation and reducing reliance on foreign resources. The International Maritime Organization aims to halve global shipping emissions, which account for 3 per cent of total carbon emissions, by 2050."}],[{"start":61.550000000000004,"text":"Batteries, which are best suited to nearshore operations, are among a suite of alternatives to highly polluting heavy-fuel oil. Chinese companies are also exploring commercialisation of clean fuels such as green methanol, ammonia and hydrogen."}],[{"start":78.79,"text":"The hunt for alternatives has gained greater urgency after the world’s energy supply chains were rocked by US-Israeli attacks on Iran and the subsequent closure of the Strait of Hormuz, a vital transport route for oil and gas from the Middle East."}],[{"start":96.74000000000001,"text":"Neil Beveridge, who leads Bernstein’s China energy research, said the long-term consequence would be an acceleration of “the global electrification megatrend”."}],[{"start":108.47000000000001,"text":"In a sign of CATL’s commitment to the sector, Su Yi, who leads its marine business unit, told the FT she planned to more than double her team’s size this year to about 500."}],[{"start":122.37000000000002,"text":"The current focus, Su said, is to produce batteries that meet the “extremely high” requirements of operating on water, including a long lifespan for battery cells and safety in ocean conditions."}],[{"start":136.01000000000002,"text":"CATL declined to provide a sales target, but a spokesperson said it was “very confident in the strong market potential”."}],[{"start":145.54000000000002,"text":"The battery maker reported a net profit of Rmb72.2bn ($10.4bn) in 2025, up 42 per cent on the previous year, driven by strong demand in energy storage systems. Its Shenzhen-listed shares have risen about 13 per cent since the start of the Iran war."}],[{"start":168.97000000000003,"text":"CATL is seeking to collaborate with ports and governments to create a new marine battery industry from scratch. Municipalities such as Guangzhou, one of China’s shipbuilding hubs, have started offering subsidies for some battery-powered vessels."}],[{"start":186.00000000000003,"text":"“We will spare no effort in investing in R&D, human resources and materials to build the supply chain for this industry,” said Su."}],[{"start":196.63000000000002,"text":"The company began exploring the marine battery sector in 2017 and has a dedicated subsidiary for marine powertrains and shore-side facilities. It is working to expand its nascent battery-swap model for vessel operators, similar to its highway network in China, where commercial trucks can change batteries on long-haul trips."}],[{"start":217.71000000000004,"text":"While still far more expensive than the heavy fuels used in shipping, a marine battery-swapping service will at least remove the price of batteries from vessel acquisition costs, said CATL."}],[{"start":229.70000000000005,"text":"Battery prices have declined sharply over the past two decades, with lithium-ion costs falling 90 per cent since 2010. Cheaper batteries have been fundamental to the boom in EVs."}],[{"start":243.13000000000005,"text":"However, large-scale adoption of purely battery-powered deep-sea vessels has yet to materialise because the energy density is low compared with fuels, according to a 2024 pre-feasibility study by the Denmark-based Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping."}],[{"start":262.72,"text":"The research group found that a “hybrid” approach — combining battery-powered components with internal combustion engines — “offers a promising solution”."}],[{"start":272.96000000000004,"text":"Researchers are also studying the risk of fire and explosions at sea, where rescue or evacuation would be more difficult than on land. Systems in marine environments will require greater maintenance and oversight than the largely standardised batteries used in EVs."}],[{"start":292.11,"text":"Maritime business is a long-held ambition of CATL founder Robin Zeng, who majored in marine engineering as an undergraduate before moving on to electronics for master’s study."}],[{"start":305.54,"text":"“Ship engineering was his original discipline and passion,” said Su."}],[{"start":310.87,"text":"Beyond the technical challenges of ensuring safety, reliability and low cost, scaling the business will require “system-level collaboration” across different ship designers, shipyards, ports and electricity grids, said Su. “These silos must be broken down.”"}],[{"start":330.1,"text":"Additional contributions from Nian Liu in Shanghai"}],[{"start":343.03000000000003,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1775459234_7381.mp3"}