-Press Release- 16 February 2023
Eastern Pacific Shipping and Value Maritime install first-of-its-kind fully integrated carbon capture solution onboard MR tanker M/T Pacific Cobalt
The pioneering project is a first for ocean-going vessels to date and aims to pave the way for industry-wide adoption
Eastern Pacific Shipping (EPS) has announced the successful installation of Value Maritime’s (VM) Filtree system onboard its managed vessel M/T Pacific Cobalt in Rotterdam, the Netherlands. The Filtree system, which filters sulphur and 99% of particulate matter, includes VM’s Carbon Capture & Storage (CCS) module that can capture up to 40% of CO2 emissions from the vessel’s main and auxiliary engines.
The CO2 is captured in a special chemical that is stored in an onboard tank that during the retrofit has been recoated and converted for this purpose. The tank now provides sufficient storage space to capture more than 200 tonnes of CO2 in a single voyage. Once the tank is full, the chemical will be pumped out in port and delivered to end users, such as greenhouses or synthetic fuel producers, who will be able to release the CO2 on demand. The CO2 can also be placed into carbon sequestration networks. The chemical will then be returned to the vessel for reuse and to capture more CO2.
EPS CEO Cyril Ducau stated, “2023 marks a critical year for the shipping industry. For us to hit IMO 2050 and net zero targets, we need to start moving the needle significantly now. To ensure that we are able to make a significant difference, we have been developing a portfolio of solutions across various vessel types. Advanced decarbonisation technology, like the CCS system from Value Maritime, offers a concrete solution that can be implemented on existing vessels. The result is an immediate carbon emission reduction while removing the need to wait for the development and rationalisation of alternative green fuel infrastructure.”
Value Maritime Co-Founder & Director Maarten Lodewijks says, “Indeed, 2023 is the year of change for sustainable shipping. EPS is leading the charge of shipping companies that have already started the transition to a greener fleet. Thanks to them, we have now succeeded in bringing our filtering and carbon capture technology to the tanker market. A special thanks should go to the installation team who completed this project within a narrow window and with the utmost professionalism.”
The installation of the prefabricated gas filtering system commenced in mid-January 2023 in Rotterdam. It took 17 days to complete and was managed jointly by EPS’s and VM’s sea and shore staff.
About Value Maritime
Value Maritime (www.valuemaritime.com) is a young innovation-driven team of experienced engineers and financial experts who understand shipping and the need for new, simple, sustainable solutions that make commercial and financial sense. Their vision is to dramatically decrease the environmental footprint of shipping and significantly contribute to improving the overall sustainability of the maritime industry. Since 2017, their technology has been helping shipowners and operators to increase their competitiveness by achieving valuable emission reductions and financial savings.
Value Maritime – a fast-growing and innovative company that is sustainable by nature with a team that is dedicated to making an impact.
About Eastern Pacific Shipping
With a history spanning 60 years, Eastern Pacific Shipping Pte. Ltd. (“EPS”) is a leading shipping company that is committed to the green and technology-driven growth of the industry. Headquartered in Singapore for the past 30 years, EPS is driven by its mission to be the safe and efficient transportation provider of choice to the shipping industry. Empowering that mission is a 6,000 strong and growing workforce across sea and shore. They oversee a versatile fleet of 200 vessels and 21 million deadweight-tonnes across three core segments of containership, dry bulk, and tanker vessels. EPS’ shore team is fully integrated with in-house commercial, finance, innovation, IT, legal, manning, operations, and technical departments.