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EVE Energy, a Chinese lithium battery producer, has entered into a framework agreement with Shanghai Hanshun Shipping to jointly develop a fleet of electric-powered bulk carriers.

Under the agreement, Shanghai Hanshun Shipping plans to develop a fleet of eighteen 5,400 dwt  bulkers and EVE Energy will provide the electric propulsion system for the vessels. They will be deployed for domestic river-to-ocean shipping services.

The framework agreement has a valid period of three years and options to extend it for another three years. Further details of the agreement were not disclosed.

Shenzhen-listed EVE Energy is the largest provider of primary lithium cells in China and the company has already supplied electric propulsion systems for over 100 small river ferries.

According to company registration information, Shanghai Hanshun Shipping is a brand new company registered in May.