World News
Major Shipowners, Builders Look to Carbon Capture to Meet IMO GHG Goals
The idea of using Carbon Capture to meet IMO GHG reduction goals has received another boost courtesy of a new project headed by Denmark's Maritime Development Center (MDC).
The project group includes shipping companies such as NYK, Sovcomflot, and Ardmore, ship builders, including DSME, and the mining giant Vale.
The so-called DecarbonICE project envisages the on-board capture of carbon, with emissions turned into dry ice that is then offload into seafloor sediments during normal ship operations.
"Here the CO2 will be safely and permanently stored as liquid CO2 and CO2 hydrate," the group said in a statement.
The technology is intended for both newbuild and retrofit applications, and could allow fossil marine fuels to not only be burned ostensibly carbon-free, but if used in conjunction with net-neutral fuels such as certain biofuels, could result in carbon negative marine options.
The project started October 1, 2019 and will run through 2020. The aim is to prepare a feasibility study and to initiate the IMO approval process for the technology, MDC says.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
Popular Now More
-
Dec 16The new hire previously worked for ExxonMobil from December 2018 to October of this year. -
Dec 19The new board was appointed after an extraordinary general assembly of the association's members, incoming Chairman Mustafa Muhtaroğlu tells Ship & Bunker. -
Dec 17Ossi Mettälä, product manager at NAPA Shipping Solutions, discusses the upcoming FuelEU Maritime regulation and how the shipping industry can respond.