World News
DNV: Capture of up to 65% of CO2 "Technically Feasible"
A new on-board chemical carbon dioxide (CO2) capturing system is "technically feasible" and capable of reducing CO2 emissions by up to 65 percent, according to Det Norske Veritas (DNV).
DNV and process modeling technology firm Process System Enterprise Ltd. (PSE) have released the results of the Maritime Carbon Capture and Storage (CCS) project, which uses chemical absorption to separate CO2 from flue gasses and then compresses and stores the gas so that it can be discharged into storage facilities at port.
The technology could reduce CO2 emission for a very large crude carrier (VLCC) by more than 70,000 tonnes per year.
"In response to more stringent environmental regulations and complex market conditions, we see an increased demand for innovative solutions towards higher efficiency and greener operations," said Dr. Nikolaos Kakalis, head of DNV Research & Innovation Greece.
"Our R&D activities, such as the carbon capture initiative which is completely new in the field of maritime transportation, pave the future towards next-generation solutions for achieving more energy-efficient, environmentally friendly and sustainable maritime transportation."
Pollution from ships is becoming a growing issue as more environmental regulations are put in place, particularly in Europe, where officials are pursuing a system for monitoring and reporting of greenhouse gas emissions.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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