World News
Mitsubishi, TotalEnergies to Develop Liquid CO2 Carrier
Japan's Mitsubishi Shipbuilding and France's TotalEnergies are set to work together to develop the design for a liquid carbon dioxide carrier, which may become an important element in setting up a global carbon capture and storage supply chain.
The two firms will start with a feasibility study on the project, Mitsubishi said in a statement on its website on Thursday.
If carbon capture is to take off as a technology worldwide, the shipping industry will need to be drafted to transport the captured emissions to where they can either be stored or used to make green fuels or for other industrial uses.
"LCO2 carriers play a pivotal role in transporting CO2 from its emission sources to storage sites or facilities for utilization, and demand for these vessels is expected to increase in the future," Mitsubishi said in the statement.
"Mitsubishi Shipbuilding is actively pursuing commercialization of LCO2 carriers, and this project is expected to make a significant contribution to the establishment of a CO2 ecosystem in the CO2 transport sector, which will be an essential component of the carbon capture value chain."
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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