The Pacific Gold installation will be completed by the end of the first quarter of 2023. Image Credit: Eastern Pacific Shipping
Shipping firm Eastern Pacific Shipping is set to retrofit two of its tankers with carbon capture systems, with one of them expected to be in operation from the start of next year.
The company has signed a deal with Value Maritime to retrofit carbon capture systems on board the MR tankers Pacific Cobalt and Pacific Gold, it said in an emailed statement on Tuesday. The systems come with a removable CO2 storage unit for discharge in port and transfer to firms that can use it in industry.
The firm anticipates an initial capture rate of up to 40% of the ships' CO2 emissions, with the potential for this rate to be increased to 90% in future.
The Pacific Cobalt retrofit is due for completion by the end of this year, and the Pacific Gold installation will be completed by the end of the first quarter of 2023.
"Carbon capture technology was missing in our existing portfolio of emission lowering solutions, which today consists primarily of alternative marine fuels," Cyril Ducau, CEO of Eastern Pacific Shipping, said in the statement.
"We believe that carbon capture technology holds significant promise for reducing emissions for existing and future ocean-going vessels.
"Coupled with alternative fuels, biofuels and other solutions, carbon capture is a crucial step in accelerating the shipping industry's decarbonisation efforts ahead of IMO targets.
"After extensive research, we agreed that Value Maritime is the right partner to implement this solution and complement our own decarbonisation efforts.
"Their passion for innovation, existing infrastructure, and commitment to lowering emissions today is what we look for in a partner.
"By equipping our tankers with VM's systems, we hope to prove to the industry that carbon capture is a viable and scalable option available right now."