Carbon Capture Systems Cost-Revealed

What costs does the retrofit of new Carbon Capture Systems reveal for the world of the shipping industry?

The Oil and Gas Climate Initiative (OGCI) and Swedish tanker owner Stena Bulk, conducted a feasibility study. Thus, aiming to show the costs incorporated with the installation of carbon capture devices on ships. The study makes clear that such technology is feasible. However, K-Line has already demonstrated it at sea, earlier this year in Japan. On the contrary, such a project comes with a noticeable price tag, both in terms of installation and operating costs.

The installation of a system capable of capturing 90% of all CO2 emitted at sea, will cost around $30 million. In the meantime, such a carbon capture system requires more than $2 million to operate. Practically, this translates into an additional 25% for a ship’s annual operating expenses.

Despite the obtained costs, the feasibility study has encouraged the team to pursue a demonstration to validate their assumptions and uncover further opportunities.

Onboard CO2 storage developments are making plenty of headlines this year. Dutch scrubber manufacturer Value Maritime is installing a CO2 capture and storage unit on a 1,036 TEU containership, Nordica, belonging to Visser Shipping.

In the meantime, Daewoo Shipbuilding & Marine Engineering (DSME), has developed a technology to store CO2 captured from engine emissions. The South Korean yard said it plans to commercialize the technology as soon as possible.

Wärtsilä Exhaust Treatment and Solvang, a Norwegian shipping company, recently announced that they have agreed on a full-scale pilot retrofit installation of a CCS system on one of Solvang’s ethylene carriers, the 21,000 m3 Clipper Eos.

It seems that the race has started to bring out the most dominant Carbon Capture System technology.

Source: OCGI