How the Iran war oil shock is helping launch a market for electric tugboats

Arc Marine is pivoting from luxury boats to commercial tugboats and battery systems for electric tugs.

The startup’s new work is tied to a $160 million deal with Curtin Maritime for vessels entering service at the Port of Long Beach.

Higher diesel prices and tougher California port emissions rules are making electric tugboats more attractive economically.

The shift points to a broader push to electrify ferries, barges, and other commercial marine vessels.