Value Maritime (VM) and Japanese shipping company Mitsui OSK Lines (MOL) have signed a contract for to supply an Exhaust Gas Cleaning System (EGCS) with Carbon Capture feature for an LR1 Product Tanker.
Value Maritime (VM) will provide a 15MW next generation EGCS Filtree with its additional Carbon Capture unit set to capture 10% CO2 onboard MOL’s LR1 product tanker Nexus Victoria. The system can be configured to extract up to 30% CO2 if required.
At 75,000 dwt, this is the largest vessel, and the first LR1 tanker, that will sail with a Value Maritime Filtree Carbon Capture unit. Installation is expected to take place before the end of 2024.
Laurens Visser, Commercial Manager, Value Maritime said: “Hopefully this is the first of many Japanese clients that we can support in achieving decarbonisation initiatives. We are grateful to the MOL team for placing their trust and belief in us and the quality of our technology and showing the market how it’s done. Working with one of the world’s most reputable shipowners keeps us motivated. It challenges us to stay ahead and continue to provide the best and simplest emission-reducing solutions to the shipping industry.”
Hiroyoshi Kubo, Executive Officer – Tanker Unit, MOL added: “This system is noteworthy as an initiative to promote decarbonisation of existing vessels, which are difficult to convert to next-generation fuels. MOL and VM will continue working toward the realisation of a carbon-neutral society by reducing GHG emissions from vessels and building a CO2 capture value chain.”
The Filtree system is based on technology that filters sulphur, CO2 and 99% of ultra-fine particulate matter from the tankers’ exhaust stream. The plug and play Filtree system installed on the MOL product tanker will be outfitted with a CO2 capture and storage system to help reduce emissions further. With this, CO2 is captured from the vessel’s exhaust and stored in tanks onboard. This is then discharged onshore where it can be used, for example, in the sustainable cultivation of greenhouse crops, methanol plants, and even the food industry.
With this signed deal, Value Maritime plans to collaborate further with other product tanker companies in the Asian market and further expand their carbon logistics services onshore.
Christiaan Nijst, Founder and Director, Value Group said: “Our ambition is to expand our Carbon Capture Usage and Storage (CCUS) facilities globally through our sister company, Value Carbon. Offering clients end-to-end solutions is the only way we can reach industry decarbonisation goals. We focus specifically on locations where captured carbon is best handled, like bunkering ports and always look for the most energy-efficient way to utilise the carbon at the lowest cost per tonne.” .
Image: ‘Nexus Victoria’ (credit: MOL)
