World News
IBIA CONVENTION: Maersk Sees Carbon Capture as Potential Short-Term Decarbonisation Option
Container line AP Moller-Maersk is open to the idea of onboard carbon capture as one means of cutting the shipping industry's carbon emissions in the short term.
Mikkel Kannegaard, CEO of bunker supply arm Maersk Oil Trading, set out his view of the technology in a panel session at the IBIA Annual Convention 2022 in Houston last week.
"It's not a long-term solution from our point of view, when you talk about the technical aspects of where you store it and what you do when you get to port," Kannegaard said.
"It's not something that we see as a major step on the way, but it can solve a few things along the way."
The IMO's Marine Environment Protection Committee is set to discuss the legal status of carbon capture systems as a means of complying with GHG emission regulations at a meeting next month.
The technology is attractive because it allows for continued use of conventional fuels in the short term while technological and infrastructure issues are being ironed out for the zero-carbon fuels. But opponents of the technology tend to view it as a means of avoiding the real work to be done on decarbonisation in favour of continuing with fossil fuels.
Some environmental groups reject the technology on the grounds that any energy system that continues to produce GHG emissions, even those abated on a lifecycle basis, should not continue to be used.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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