Saturday, June 3, 2023
HomeHeadlinesShell-backed consortium confirms EU grant deal for hydrogen-fueled tanker project


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

Shell-backed consortium confirms EU grant deal for hydrogen-fueled tanker project

A consortium comprising Shell, TECO 2030 and some others has finalized a grant agreement with the EU to retrofit a handysize product tanker with a hydrogen fuel cell system.

In a statement Dec. 21, Oslo-listed TECO 2030 said the 18,600-dwt ship will be installed with a 2.4-MW fuel cell and 4,000-kg compressed hydrogen storage developed by the company.

The EU, under its Horizon Europe funding scheme, will provide Eur5 million ($5.31 million) to the HyEkoTank project that will start in February 2023 for demonstration in 2024.

Other consortium partners are shipowner Ektank, engineering firm Blom Maritime, TECO Solutions, Umoe Advanced Composites, FKAB Marine Design, Neste and UiT-The Arctic University of Norway.

“This fuel cell project … aims to demonstrate the viability of hydrogen as a zero-carbon fuel for the maritime sector,” said Carl Henrickson, general manager for technology, innovation and digitalization at Shell’s shipping unit.

“Shell will purchase the fuel cell system and provide the renewable hydrogen to power this pioneering project,” Henrickson added.

Shell is currently developing the Holland Hydrogen I project in Rotterdam, which will incorporate a 200-MW alkaline electrolyzer powered by offshore wind to generate up to 60,000 kg/d of renewable hydrogen from 2025.

Platts assessed the cost of producing hydrogen via alkaline electrolysis in the Netherlands at Eur18.3484/kg Dec. 20 based on month-ahead power prices, including capital expenditures, according to S&P Global Commodity Insights data.

Tore Enger, group CEO of TECO 2030, said the company “will show the world what fuel cells are capable of when retrofitting a product tanker for Ektank.”

“I am grateful to the EU who wants to assist us in realizing a retrofit fuel cell project for reducing and eliminating emissions along the European coastlines,” Enger added.

Hydrogen fuel cells development

As part of EU efforts to cut greenhouse gas emissions by 55% below 1990 levels by 2030, the EU plans to introduce a series of shipping emissions regulations in the coming years.

HyEkoTank aims demonstrate zero emission at berth and 60% reduction of GHG emissions during voyage, according to TECO 2030.

The company is developing proton exchange membrane fuel cell production facilities in Narvik, Norway, which will have an initial capacity of 120 MW in 2024 before further hikes to 400 MW in 2025 and 1.6 GW in 2030.

TECO 2030, a spinoff of technical services provider TECO maritime, has been working on maritime applications of its fuel cells including a 1.6-MW workboat project for the Port of Narvik.

Source: Platts

Related Posts


Finance & Economy
Shipping News

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

CMA CGM Profit Eases as Container Transport Demand Wanes

CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx...

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Baltic index hits over 3-month low amid lower coal imports

The Baltic exchange’s main sea freight index extended losses for the 15th session straight...

Baltic index falls for the month as vessel demand wanes

The Baltic exchange’s main sea freight index recorded its first monthly decline in four...

North Korea missile tests endanger shipping, UN maritime agency told

North Korean missile tests are endangering the safety of commercial shipping in busy sea...

Singapore Clamps Down on Tankers as Dark Fleet Grows

Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...