World News
Onboard Carbon Capture Project Moves Forward
A project to develop onboard carbon capture technology has moved a step forward by getting class society approval.
The project, which is led by a consortium of companies, will run for two years and have three stages.
Addressing operational and storages challenges from deploying carbon capture technology on ships will form a key part of the work.
There will be a full engineering study followed by a pilot carbon capture system will be built and installed on a medium range tanker for sea trials, according to consortium member Deltamarin.
A rigorous stage gate review process will be conducted prior to progression between the project's phases, Deltamarin added.
In addition to Deltamarin, the consortium comprises the Global Centre for Maritime Decarbonization, the Oil and Gas CIimate Initiative, ABS, Stena Bulk, Alfa Laval and the Organization for Applied Scientific Research in the Netherlands.
Onboard carbon capture could be a competitive solution for shipping as operators could continue using traditional bunker fuel and meet greenhouse gas targets.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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