Hyster to supply 10 zero-emission battery electric terminal tractors to APM Terminals
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Insights
The agreement between Hyster Company and APM Terminals marks a significant investment in sustainable infrastructure within the maritime industry. The shift toward electric terminal tractors is part of a broader trend in transportation to reduce greenhouse gas emissions and adhere to environmental regulations. This move aligns with global efforts to mitigate climate change and positions APM Terminals as a leader in port electrification.
From an environmental perspective, the adoption of zero-emission equipment like battery-powered terminal tractors can substantially decrease the carbon footprint of port operations. The 260-kilowatt hour lithium-ion battery technology is a key component in achieving this, as it enables heavy-duty machinery to operate without direct emissions. By transitioning to electric vehicles, APM Terminals is not only contributing to cleaner air quality but also setting a precedent for other ports and logistics companies to follow.
The $60 million investment by APM Terminals into port equipment electrification is a forward-thinking strategy that may yield financial benefits in the long term. The operational costs associated with electric terminal tractors, including maintenance and energy consumption, are typically lower than those for diesel-powered counterparts. Over time, the reduction in fuel expenses and potential government incentives for clean energy usage could result in significant cost savings for APM Terminals.
However, the initial capital outlay for electric infrastructure and vehicles is considerable. Investors and stakeholders should monitor how this investment impacts APM Terminals' financial performance, particularly in terms of return on investment and total cost of ownership of the electric fleet. The company's commitment to net zero by 2040 suggests a strategic focus on sustainability, which may enhance its brand value and appeal to environmentally conscious investors.
As the first North American deployment of Hyster electric terminal tractors, this agreement could influence market dynamics within the industrial equipment sector. Hyster Company's partnership with APM Terminals serves as a key case study for the viability and performance of electric heavy machinery in demanding environments like ports.
Market demand for eco-friendly industrial solutions is growing and Hyster's ability to meet this demand with reliable products could position them favorably against competitors. The success of these electric terminal tractors may prompt other companies to accelerate their own development of electric solutions, potentially leading to increased market competition and innovation. Furthermore, the impact on the supply chain for lithium-ion batteries and related components could stimulate growth in those industries as well.
GREENVILLE, N.C., March 04, 2024 (GLOBE NEWSWIRE) -- Hyster Company announces an agreement to provide APM Terminals with 10 battery-powered terminal tractors for their location at the Port of Mobile in Alabama. The electric terminal tractors, which are scheduled to be delivered in 2024, are part of a
“We have made an industry-leading commitment to be net zero across scopes one, two and three by 2040,” says Jelle Burger, Program Lead for Electrification Pilots, APM Terminals. “Decarbonizing our container handling equipment is a critical component of our progress towards those targets. Hyster has been a trusted resource for container handling equipment, and our collaboration will help us to expand this global effort with the first Hyster electric terminal tractors in North America.”
The electric terminal tractors are designed to provide a zero-emission option to help the terminal, and other port and distribution operations, achieve clean energy targets while maintaining diesel-like performance levels. Each tractor will be powered by a 260-kilowatt hour lithium-ion battery, which is expected to provide about 9.5 hours of continuous run time on a full charge.
"We are seeing a clear demand for zero-emission port equipment, including terminal tractor options. Our long history of electrifying forklifts and our ground-breaking work to electrify container handling equipment positions us to bring expertise and learnings to terminal tractors, so we are stepping in to deliver,” says Niek Willems, Manager, Big Truck Global Accounts, Hyster. “In doing so, we are reinforcing our commitment to provide clean power choices that allow businesses pursuing emission reductions to access the solution that is most effective and appropriate for their unique application, without compromise.”
The terminal tractors will operate as a gang, serving a ship-to-shore crane at APM Terminals Mobile, a world-class, high productivity terminal connecting sea, road and rail from the U.S. Gulf Coast. As the crane unloads containers from the ship, the tractors will transport laden and unladen containers between the crane and the yard. Each tractor has a 182,000-pound gross combined weight rating. The electric terminal tractors, which Hyster has worked with Capacity Trucks to develop and will be built in Texas, represent one of several clean power-focused port equipment projects that the company is engaged in.
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ABOUT HYSTER COMPANY
Hyster Company is a leading world-wide lift truck designer and manufacturer. Hyster Company offers 130 lift truck models configured for gasoline, LPG, diesel and electric power, with one of the widest capacity ranges in the industry — from 2,000 to 105,000 lbs. Supported by one of the industry’s largest and most experienced dealer networks, Hyster Company builds tough, durable lift trucks that deliver high productivity, low total cost of ownership, easy serviceability and advanced ergonomic features, accompanied by outstanding parts, service and training support.
Hyster Company is a division of Hyster-Yale Group, Inc., a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY) which is headquartered in Cleveland, Ohio and operates globally.
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FAQ
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