World News
Onboard Carbon Capture Viable Retrofit for Ships With Over 10 Years' Trading Life: LR
Onboard carbon capture and storage (OCCS) could be a viable retrofit option for specific ships with more than 10 years of trading life remaining, according to a new report from Lloyd’s Register (LR).
The finding comes in LR’s report, Applying Onboard Carbon Capture & Storage to Existing Ships, released on Monday, which looks at where the technology could make commercial sense for existing vessels.
Ships with exposure to carbon pricing, access to facilities that can receive captured CO2 and enough space onboard for the equipment are seen as the best candidates.
The report comes as a large part of the fleet is expected to keep using conventional marine fuels into the 2030s.
Only around 4% of the near-zero GHG fuel production capacity needed by 2030 has reached final investment decision, while alternative-fuel-capable vessel orders fell from 45% of contracted tonnage in 2024 to 37% in 2025.
LR said some OCCS systems have now moved into commercial deployment. Full-scale installations are capturing around 30-40% of CO2 emissions, while larger pilot projects are targeting about 70%.
MR and chemical tankers on EEA routes, LNG-fuelled vessels and short-sea or feeder ships are among the most suitable markets.
The technology does have drawbacks.
“Current oCCS systems can impose fuel consumption penalties of between 15% and 30% in many current applications and can require significant onboard space for capture equipment and CO2 storage,” it said.
A lack of CO2 reception facilities at ports and uncertainty over future regulations could also slow wider uptake, LR said.
The report can be downloaded from here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 854.00 | 11.50 | 1278.50 | 11.00 |
| Rotterdam | 681.00 | 5.50 | 1400.00 | 10.00 |
| Houston | 725.50 | 15.00 | 1364.50 | 23.50 |
| Fujairah | 944.50 | 19.00 | 1675.50 | 9.00 |
| Global 20 Ports Average | 860.50 | 15.50 | 1522.00 | 1.50 |
| Global 4 Ports Average | 801.00 | 13.00 | 1429.50 | 4.00 |
| Global Average Bunker Price | 922.00 | 13.00 | 1596.50 | 2.50 |
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