World News
ABS Publishes Report on Onboard Carbon Capture
Classification society ABS has published a new report examining onboard carbon capture technology for the shipping industry.
The organisation's new report, Insights Into Onboard Carbon Capture, analyses the various carbon capture technologies available to the shipping industry, as well as carbon handling, storage and downstream considerations and regulatory issues, it said in a statement on its website on Monday.
"Although there has been increased interest from the industry, the technology and its associated value chains have a long way to mature, and there are many factors to consider such as onboard power supply, fuel types, exhaust characteristics and onboard storage," Georgios Plevrakis, vice president for global sustainability at ABS, said in the statement.
"This Insights document is an important step in moving the conversation forward, supporting shipowners and operators with the latest information from ABS engineering and joint development projects."
Carbon capture technology for the shipping industry is still in its infancy, but could become a popular choice in the early stages of maritime decarbonisation in the coming decades while shipowners are wary of ordering new tonnage running on zero-carbon fuels.
The key challenge for the technology will be the setting up of supply chains to handle the captured carbon and either store it or deliver it to industries that can use the material as a feedstock.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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