Monday, February 6, 2023
spot_img
HomeEnvironmentBASF, SHI collaborate on Carbon Capture & Storage onboard maritime vessels

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

BASF, SHI collaborate on Carbon Capture & Storage onboard maritime vessels

BASF and Samsung Heavy Industries Co., Ltd. (SHI) will carry out a collaborative feasibility assessment of capturing CO2 onboard maritime vessels using BASF’s OASE® blue technology for flue gas applications. Towards this end, both parties signed a Memorandum of Understanding for Onboard Carbon Capture and Storage (OCCS) technology at the trade show Gastech 2022 in Milan, Italy.

The scope of the collaboration includes a marinization study as well as engineering design and construction of the carbon capture unit. BASF will support with its expertise on floating liquefied natural gas (FLNG) and with its well proven OASE blue technology contributing to sustainability by substantial energy savings compared with conventional technologies. SHI will evaluate the feasibility of installing the gas treatment technology onboard maritime vessels. The joint effort is in line with the strategy of the International Maritime Organization (IMO) to reduce the carbon intensity of international shipping by at least 40% by 2030.

Vasilios Galanos, Senior Vice President, Intermediates Asia Pacific, BASF, said, “Leveraging our state-of-the-art OASE technology, we are pleased to expand our cooperation with SHI and support it in navigating through tightening carbon emission regulations. We will join hands with our partner to sail towards a greener future.”

“Through cooperation with BASF, Samsung Heavy Industries has developed efficient Onboard Carbon Capture system, which will help gain a competitive advantage in a low carbon shipping market,” said Youngkyu Ahn, Head of Shipbuilding Sales Engineering at Samsung Heavy Industries.

“As one of the ‘accelerators’ in BASF’s portfolio, the suite of OASE technologies is perfectly tailor made to help our customers to achieve their sustainability targets. In this particular case, we have combined our knowhow and experience in both CO2 capture and motions study in offering a unique solution for OCCS,” added Lawrence Loe, Director, OASE® Gas Treating Excellence, Intermediates Asia Pacific, BASF. BASF’s accelerator products make a substantial sustainability contribution in the value chain. To assess the sustainability performance of its products and identify accelerator solutions, BASF conducts regular reassessments of its product portfolio.

Taking place in Milan, Italy from September 5-8, 2022, Gastech is the world’s largest global exhibition and conference for technologies related to natural gas, liquefied natural gas, hydrogen, low carbon solutions and climate.

Related Posts

Video

Finance & Economy
Shipping News
Ports

LNG boosts CPLP 2022 results

Capital Product Partners L.P. released its financial results for the fourth quarter ended December 31, 2022. Highlights  Three-month periods ended December 31, 20222021Increase/(Decrease)Revenues$79.9 million$63.6 million26%Expenses$42.1 million$35.7...

Keppel Corp posts 9% drop in full-year profit

Singapore’s Keppel Corp said on Thursday its net profit for the year fell 9%, partly hurt by weak performance from its urban development business...

Stolt-Nielsen sees Q4 profits rise on strong markets

Stolt-Nielsen Limited reported unaudited results for the fourth quarter and full year 2022. The Company reported a fourth-quarter net profit of $95.3 million, with revenue...

Euronav delivers better-than-expected Q4 revenue

Euronav NV reported its non-audited financial results for the fourth quarter ended 31 December 2022. Hugo De Stoop, CEO of Euronav said: “Constrained vessel supply...

Wartsila: A challenging year with strong annual growth

HIGHLIGHTS FROM OCTOBER–DECEMBER 2022 Order intake decreased by 24% to EUR 1,638 million (2,150)Service order intake increased by 6% to EUR 791 million (747)Net sales...

Baltic index hits over 2-year trough on waning demand for larger vessels

The Baltic Exchange’s dry bulk sea freight index dropped to its lowest level in...

Luxury Cruise Market Holds Much Promise For Greek & East Med Hidden Gem Destinations

The appeal of Greece and the East Mediterranean as an ideal region for luxury...

Baltic index falls to over 2-year low as larger vessel rates slide

The Baltic Exchange’s dry bulk sea freight index fell to its lowest since June...

Baltic index logs worst month in 3 years

The Baltic Exchange’s main sea freight index registered its biggest monthly percentage fall in...

Baltic index snaps 9-day losing streak as panamax, supramax rates rise

The Baltic Exchange’s main sea freight index snapped its nine-session losing streak on Tuesday,...

DP World wins bid for development of a mega-container terminal at India’s Deendayal Port

DP World has won a major concession to develop, operate and maintain the mega-container terminal at Deendayal port in Gujarat, on the western coast...

Luxury Cruise Market Holds Much Promise For Greek & East Med Hidden Gem Destinations

The appeal of Greece and the East Mediterranean as an ideal region for luxury cruising will be one of the main highlights of the...

Port of Los Angeles proposes cruise terminal project

The Port of Los Angeles is inviting comments on a draft Request for Proposals (RFP) for the future development of a new Outer Harbor...

Port of Long Beach Closes 2022 with Second-Busiest Year

The Port of Long Beach marked its second-busiest year on record by moving 9.13 million twenty-foot equivalent units in 2022, allowing for a return...

Hapag-Lloyd AG acquires share in J M Baxi Ports & Logistics Limited

Hapag-Lloyd AG signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a...