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Press release
Bureau Veritas report highlights the potential of carbon capture technologies and the development of carbon value chains for shipping
May. 16 2024
Paris La Défense, 16 May 2024 - Bureau Veritas (BV), a global leader in the Testing, Inspection, and Certification (TIC) industry, has released a report which assesses the technical viability of current carbon capture & storage (CCS) technology within the marine market, and highlights the vital role that shipping can play across the entire CCS value chain.
The technology report, titled Onboard Carbon Capture: An Overview of Technologies to Capture CO2 Onboard Ships, details the current state of play regarding a wide range of emerging CCS technologies. The paper explores the technical and commercial viability of implementing CCS technology onboard vessels, highlighting the results from key feasibility studies that showed achievable capture rates between 82% and 90%.
The report also details the challenges to the wider adoption and integration of CCS technologies, such as regulatory frameworks that are yet to be consolidated at a global level, as well as from an operational perspective. Concerns have been raised regarding the available space onboard vessels to accommodate CCS technologies, as well as the safe handling of CO2 onboard.
While alternative fuels are generally seen as the key to ushering in a new era of sustainable shipping, the BV report recognizes that the role of carbon capture technologies in decarbonizing the maritime sector cannot be overlooked. The paper also outlines the significant role that shipping can play in facilitating the development of a global carbon capture, utilization, and storage (CCUS) value chain as a major mode of CO2 transportation, particularly given the growing interest in offshore CO2 storage sites. Globally, some 230 million metric tons of CO2 are already used in industrial applications every year, including in the production of fertilizers, steel, and food and beverages.
Environmental Project Manager (Strategy & Advanced Services) and main author of the report
Bureau Veritas Marine & Offshore
When assessing the feasibility of carbon capture technology onboard vessels, it is vital to do so within the context of the entire CCUS value chain, taking into account the potential challenges related to the management of the captured CO2. With sufficient regulations and infrastructure in place, the maritime industry could benefit from the development of a truly circular CO2 economy, whilst contributing to the industry’s ambitious decarbonization targets.
Onboard Carbon Capture: An Overview of Technologies to Capture CO2 Onboard Ships is the second report to be issued by Bureau Veritas’ Future Shipping Team initiative, and can be downloaded here: https://marine-offshore.bureauveritas.com/newsroom/onboard-carbon-capture.
