Onboard Carbon Capture Success Depends on Industry Collaboration: DNV Report

DNV’s latest report emphasizes that the success of onboard carbon capture (OCC) hinges on collaboration among regulators, policy makers, industry stakeholders, class, and suppliers. The OCC is gaining traction in the shipping industry as it offers shipowners the chance to reduce emissions while continuing to operate on conventional fuels. With decarbonization targets looming, there is a growing demand for cost-effective emission reduction solutions, making OCC a viable option for the industry.

The process of carbon capture, utilization, and storage (CCUS) involves capturing CO2 and either recycling it for future use or storing it underground. The maritime sector is exploring the implementation of OCC onboard ships, which requires a system to capture, process, and store CO2, along with an offloading network integrated into the wider CCUS infrastructure. DNV’s whitepaper delves into the technical, economic, operational, and regulatory challenges of OCC, highlighting its potential as a decarbonization solution for shipping.

For OCC to be widely adopted, it must be economically competitive with other decarbonization alternatives. The EU ETS currently provides commercial incentives for OCC, but future regulations must also offer credits for captured CO2 to encourage shipowners to embrace the technology. DNV underscores the importance of exploring OCC and other technologies to achieve IMO decarbonization targets, pointing out that these solutions are not just ambitious concepts but formidable contenders in the quest for cleaner shipping.

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