The Global Centre for Maritime Decarbonisation (GCMD) in Singapore has released a pioneering study on the emissions savings and costs linked to onboard carbon capture and storage systems (OCCS). While life cycle assessments exist for onshore carbon capture, there is a lack of comprehensive evaluations for maritime applications. The study, titled COLOSSUS, aims to provide shipowners with essential insights as they consider integrating these technologies into their operations.
COLOSSUS analyzes GHG emissions and costs across the entire carbon value chain, including fuel production, transport, and onboard CO2 capture. It assesses five OCCS technologies alongside six marine fuel options and three post-capture scenarios. Notably, the study found that using the most advanced OCCS technology, monoethanolamine (MEA)-based systems, could achieve a 29% reduction in GHG emissions for vessels using heavy fuel oil (HFO). This reduction can be further enhanced by substituting HFO with biofuels, potentially yielding savings of 69% to 121%.
The research also highlights that utilizing captured CO2 in concrete is the most effective post-capture scenario, increasing GHG savings significantly. Additionally, the study indicates that the costs for permanent CO2 storage range from $269 to $405 per ton of CO2, providing a viable economic pathway for extending the operational life of existing vessels. Overall, the findings aim to inform regulatory frameworks and assist shipowners in managing their emissions effectively.
