A new report prepared by Lloyd’s Register Advisory for the International Chamber of Shipping (ICS) indicates that Onboard Carbon Capture and Storage (OCCS) technology could become a key solution for the decarbonization of maritime transport in the near term.
According to sea-news.az citing Seanews.az, the report highlights that the technology has already been tested on various types of vessels, proving capable of capturing 70% to 95% of carbon emissions.
Experts note that the primary obstacles to the widespread adoption of OCCS systems include integration into existing vessels, the development of port infrastructure to receive captured carbon, and the establishment of international regulatory mechanisms to support the technology. Currently, amine-based chemical absorption of exhaust gases is considered the most advanced solution on the market.
The report identifies leading companies in the OCCS field, including Wärtsilä, CSSC 711, Value Maritime, Seabound, Hanwha Ocean, Panasia, and Sinotech. LNG carriers and large tankers are considered the most suitable segments for the implementation of this technology. While application on container ships is also viewed as promising, the space required for the equipment may reduce cargo-carrying capacity. The greatest challenge, however, is observed in dry bulk carriers.
It is emphasized that there are currently fewer than 10 ports worldwide with the necessary infrastructure for carbon offloading, most of which are located in Northern Europe. Furthermore, the economic viability of OCCS systems remains dependent on carbon pricing and government incentives. At present, only the European Union’s Emissions Trading System (EU ETS) provides a financial advantage for captured and permanently stored carbon emissions.
The report’s authors conclude that, as the widespread adoption of alternative low-carbon fuels will take time, onboard carbon capture technology can serve as a vital transitional solution to reduce maritime emissions over the coming decade. However, the large-scale implementation of the technology will depend on the development of port infrastructure and the formation of an international regulatory framework.
