A recent report by Lloyd's Register (LR) indicates that onboard carbon capture and storage (oCCS) systems present a viable method for the shipping sector to decrease its carbon dioxide emissions. This technology is particularly relevant as the industry awaits the full maturation of alternative fuel supply chains. The report, titled "Applying Onboard Carbon Capture & Storage to Existing Ships," underscores the immediate potential of oCCS for shipowners who are under growing pressure to decarbonize their operations.
For freight forwarders and operations managers, the adoption of oCCS could translate into more compliant vessel operations, potentially reducing the risk of penalties related to emissions. While not directly impacting freight rates or capacity in the short term, widespread implementation could contribute to a more sustainable and predictable shipping environment, which benefits long-term supply chain planning. It also provides a transitional solution, allowing the existing global fleet to meet environmental regulations without immediate, costly overhauls to run on nascent alternative fuels.
The report suggests that oCCS can serve as a crucial bridge technology, enabling the current fleet to comply with stricter environmental regulations while the infrastructure for fuels like green methanol or ammonia is still being built out. This approach could help mitigate some of the financial and operational uncertainties associated with the transition to zero-emission fuels.
