The Singapore-based tonnage provider Eastern Pacific Shipping Pte. Ltd (EPS) has signed a definitive agreement with the Netherlands, Rotterdam-based Value Maritime B.V. (VM) to install carbon capture and filtering systems on MR tankers M/T Pacific Cobalt and M/T Pacific Gold, with an option to equip three more vessels.
EPS oversees a fleet of 200 vessels and 20 million deadweight-tonnes across three core segments – containership, dry bulk, and tanker vessels.
Retrofitting two MR tankers with carbon capture systems will make them the largest ocean-going vessels fitted with carbon capture technology to date.
Partnering with Value Maritime is a major step forward for EPS and the industry’s energy transition. Carbon capture technology was missing in our existing portfolio of emission lowering solutions, which today consists primarily of alternative marine fuels, said Cyril Ducau, CEO of EPS.
The 2020-built, 49 700 DWT sister vessels, will be fitted with VM’s Filtree System – a prefabricated gas cleaning system that filters sulphur and 99 percent of particulate matter (PM) – and a Carbon Capture Module charging a carbon dioxide (CO2) battery onboard.
After extensive research, we agreed that Value Maritime is the right partner to implement this solution and complement our own decarbonization efforts. By equipping our tankers with VM’s systems, we hope to prove to the industry that carbon capture is a viable and scalable option available right now, Cyril Ducau said.
Installation onboard M/T Pacific Cobalt is expected to be completed by the end of 2022, while the installation onboard M/T Pacific Gold is scheduled to be completed by the end of Q1 2023.
Novel Plug’n’Play system
Value Maritime’s Filtree System removes oil residue and particulate matter (PM) from the wash water, ensuring its PH value is neutralized and contributes to reducing the acidification of seawater.
The Carbon Capture Module charges an onboard CO2 battery. The charged CO2 battery will be discharged in port and subsequently used by customers, such as greenhouses, or injected into carbon sequestration networks.
The discharged battery will be returned to the vessel for CO2 recharging.
This ‘plug and play’ approach allows vessels to capture up to 40 percent of CO2 emissions today, with the potential of exceeding 90 percent in the future.
Bringing our filtering and carbon capture technology to the tanker market has been a goal of ours from the very beginning. Realizing this vision with forward-thinking partners like Eastern Pacific Shipping is a dream come true. Together, we are making sustainable shipping and emission reduction for this segment no longer a pipe-dream. It’s happening today, and we couldn’t be prouder that it’s happening with EPS, said Maarten Lodewijks, Co-Founder and Director of Value Maritime.
In addition to the retrofits, EPS and VM are exploring future collaboration opportunities, such as deploying the Filtree System onboard EPS newbuilds, including a new generation of containerships.
We believe that carbon capture technology holds significant promise for reducing emissions for existing and future ocean-going vessels. Coupled with alternative fuels, biofuels, and other solutions, carbon capture is a crucial step in accelerating the shipping industry’s decarbonization efforts ahead of IMO targets, ended Cyril Ducau.
