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DNV Decarbonisation Insights: Speed up energy transition, shipping industry must move faster towards net zero goal

Classification society DNV gives an overview on highlights from its top leaders during DNV Singapore Energy Transition Conference, Gastech and CO2 Shipping and CCS Conference; turns spotlight on CCS technology.




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Greater energy and transport industry collaboration, as well as the need to put in place “fossil disincentives” was the call from DNV’s Group President and CEO Remi Eriksen, setting the scene at the third DNV Singapore Energy Transition Conference (SETC) on 4 September, leading up to Gastech 2023.

Eriksen made it clear that “no major economy has moved fast enough” in the last 24 months if we are to have any hope of achieving what’s required in the Paris Agreement or getting to Net Zero by 2050.

He praised efforts in Southeast Asia to capitalise on its great potential for solar and wind power but cautioned that the region was going to be very dependent on coal for a long time to come.

Mr Eriksen called for more “policy choices” to put the environment first when it comes to investments in infrastructure and services in this region and everywhere.

Knowing that the world has to move from being 90% dependent of fossil fuels now to a situation where non-fossil fuels will account for 90% of our energy by 2050, means we have to speed up the energy transition.

He pointed out that this is not an insurmountable problem. The costs of renewables are coming down. But political leadership is needed. The hard to abate sectors of industry and transport have to be addressed, and that’s where DNV sees that carbon capture and storage (CCS) could play a key role.

Decisive decade for shipping

DNV Maritime CEO Knut Orbeck Nilssen speaking at SETC
DNV Maritime CEO Knut Ørbeck-Nilssen speaking at SETC

Remi Eriksen was joined at SETC, before Gastech 2023 got underway, by an equally compelling call to action from DNV Maritime CEO Knut Ørbeck-Nilssen, in what he described as the “decisive decade for shipping”.

“There is no time to waste. We must move faster,” Ørbeck-Nilssen addressed an audience of 300 industry professionals who attended the event in person, while many more following the conference online.

A key aspect of his presentation was the importance of curtailing energy consumption while advancing the process of decarbonisation and the adoption of cleaner, low-carbon fuel sources.

Mr Ørbeck-Nilssen urged maritime decision-makers “to leave no stone unturned” in the quest to decarbonise, advocating for the exploration of green shipping corridors and the revival of wind-powered vessels, reminiscent of the historical era of sailing ships.

SETC panel with Cristina Saenz de Santa Maria
SETC panel with Cristina Saenz de Santa Maria

DNV’s Regional Manager Cristina Saenz de Santa Maria was joined by Fortescue Energy’s Andrew Hoare and Berge Bulk’s Paolo Tonon, to echo the prevailing sentiment of urgency, while concurrently exploring and assessing decarbonisation technologies for a greener tomorrow in close cross-sector collaboration.

The united call from practically all SETC speakers was the urgent need to embark on this transformative journey together, optimizing the use of natural resources, and championing energy efficiency.

How CCS fits into the maritime decarbonisation mix

Martin Cartwright speaking at CO2 Shipping CCS Conference Asia
Martin Cartwright speaking at CO2 Shipping & CCS Conference Asia

What is required to deploy carbon capture and storage technology at scale was the central theme of the CO2 Shipping and CCS Conference, jointly organised by Riviera Maritime Media and DNV in conjunction with SETC on the eve of Gastech 2023. 

DNV’s Business Director Gas Carriers & FSRU Martin Cartwright emphasised that while CCS has been discussed for decades, large-scale implementation is still in its infancy.

Currently only about 40 million tons of CO2 per year is being captured globally through CCS projects. However, the IEA and IPCC estimate that billions of tons will need to be captured annually by 2050 to reach net zero emissions.

Mr Cartwright noted the significant shortage of infrastructure and distribution challenges with storage sites scattered worldwide. Today there are only a handful of Liquified CO2 (LCO2) vessels operating to transport pure CO2 for the food and beverage industry.

The transportation of CO2 for the purpose of storage will require a massive investment in new vessels dedicated for this specific trade.

The first vessels for CCS purpose are already under construction and will be delivered in 2024, dedicated for the Northern Light project in Norway. In addition, this summer, the Greek owner Capital Maritime Group placed an order for two 22k LCO2/LPG/ammonia vessels at HMD in Korea.  

Responding to a question about ordering low pressure CO2 ships and availability timelines, Mr Cartwright said the qualification of material suited for LCO2 is essential to cut cost for large LCO2 carriers.

DNV, together with Shell, Equinor, Total and Gassco, is addressing this, along with other challenges, with large CO2 carriers through the CETO (CO2 Efficient Transport via Ocean).

The CETO project is a large joint industry project (JIP) funded partly by the project partners and partly by a Norwegian governmental funding scheme dedicated to support the development of CCS technologies.

Mr Cartwright was equally clear that calls for converting existing LPG tankers were misguided, stating “we need new vessels to support this market which are designed for the specific properties of liquid CO2”.

See CO2 as a tradable commodity to catalyse fleet growth

Turning CO2 into a tradable commodity will help catalyse fleet growth, he said, as there are many who still regard CO2 as waste with no commercial value.

Returning to CCS, Mr Cartwright said the permanent storage of CO2 underground poses challenges. While oil companies do have decades of experience injecting and monitoring CO2 in depleted gas fields, there is still work to do on public perceptions of risk around large-scale storage.

James Laybourn speaking at CO2 Shipping CCS Conference Asia
James Laybourn speaking at CO2 Shipping & CCS Conference Asia

DNV Regional Sales Head of Sales, Energy Systems, James Laybourn, noted: “We are confident that there is large potential capacity for global storage of CO2 in depleted fields and saline aquifers. In each case, the potential site needs to undergo rigorous evaluation and testing to ensure that the site is suitable and safe for the permanent storage of CO2.”

Such assessment and verification processes are utilised to ensure that all key stakeholders can be confident of the storage site integrity during the CO2 injection process and also after the site is sealed.

Mr Laybourn emphasised that governments and companies are putting rigorous monitoring regimes in place to ensure safe, secure containment of injected CO2.

Could Singapore be a major hub in the CCS value chain?

DNV booth at Gastech
DNV booth at Gastech

Speakers at the conference also discussed opportunities to develop regional CCS hubs, especially in Southeast Asia. This involves aggregating CO2 from multiple industrial facilities via ships to centralised injection sites – a model being pioneered in Northern Europe’s Northern Lights project.

Mr Laybourn explained that realising a CCS hub for Singapore would require the development of a full value chain, including pipelines, liquefaction plants, jetties, and CO2 carriers to get captured emissions to offshore storage sites. Singapore is seen at an advantage as sequestration sites are already being developed in the surrounding region.

“I think the value chain needs to consider two parts,” he said. “The first part is the development of the sequestration sites themselves.

“The second part is the infrastructure to capture and transport the CO2 to the field. All of these elements of the value chain need to be developed to support CCS in Singapore.

“The transport will depend on adequate shipping infrastructure and the regulatory framework to enable international transport of CO2”, Mr Laybourn advised.

Presenters also emphasised that cost is critical to ensure a commercially viable value chain. Government incentives like carbon pricing can be critical to spurring CCS given the high costs.

While carbon prices in Europe are approaching levels that make projects economically viable, carbon taxes in Asia remain far lower, and therefore greater efforts will be required to reduce the cost of the value chain such as sharing infrastructure between multiple sources (as a hub) and repurposing existing infrastructure.

Various regulatory drivers and policies are also pushing CCS forward. Mr Cartwright noted: “We need to focus on the areas where we are actually emitting the CO2.

“There are technologies and massive companies who are recording and reporting all the emissions of CO2 globally. We also see that areas with mature oil and gas industries in place are taking the lead, as it is much easier for them to capture CO2.”

Overall, the conference highlighted the scale of the challenge in ramping up CCS to meet climate goals.

Key next steps include building out shipping capabilities, aggregating infrastructure into hubs, proving storage site capacities, and enacting policies to improve project economics.

While CCS is not a silver bullet, the conference consensus was CCS and CO2 shipping will play an indispensable role in decarbonising hard-to-abate sectors.

Important to tackle the ‘energy penalty’ to make CCS viable at sea

Besides the CCS endorsement in the Maritime Forecast to 2050, also at Gastech, Martin Cartwright presented results of a recent JIP for an LNG carrier which demonstrated that there is a robust business case for Carbon Capture & Storage (CCS) as value chains and regulations develop.

The study determined that technology exists right now to effectively capture CO2 onboard an LNG carrier, indicating potential for application in other vessels.

The challenge is to manage the ‘energy penalty’ – the amount of fuel that must be dedicated to CCS for a fixed quantity of work output – so as to make CCS economically viable on board.

It also depends on a range of other factors, including the level of carbon tax applied in different regions, along with the costs involved in offloading CO2 for eventual permanent storage or utilisation.

To reach the industry target of net-zero, CCS for shipping must be applied in association with other decarbonisation measures, including energy efficiency and alternative low carbon fuels.


  1. Techno-economic evaluation of onboard carbon capture and nuclear propulsion in DNV 2023 Maritime Forecast:
  2. Investigating carbon capture and storage for an LNG carrier:
  3. Shipping’s future role in carbon capture and storage (January 2022):

Photo credit: DNV
Published: 15 September, 2023

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VPS conducts assessment on first SIMOPS methanol bunkering op in Singapore

Firm was appointed by OCI Methanol Europe to conduct a quantity and quality assessment of a methanol bunker fuel delivery to “Eco Maestro” in Singapore.





VPS conducts assessment on first SIMOPS methanol bunkering op in Singapore

Marine fuels testing company VPS on Tuesday (28 May) said it was appointed by OCI Methanol Europe, part of the OCI Global Group, to conduct a quantity and quality assessment of a methanol fuel delivery to Eco Maestro in Singapore.

Captain Rahul Choudhuri, President Strategic Partnerships, VPS, said VPS survey experts Rafael Theseira and Muhd Nazmi Abdul Rahim were at hand during the methanol bunkering to ensure the 300 metric tonnes of methanol transfer was carried out smoothly, having been involved in the first methanol bunkering a year ago. 

Manifold Times recently reported X-Press Feeders, Global Energy Trading Pte Ltd (GET), and PSA Singapore (PSA) successfully completing the first simultaneous methanol bunkering and cargo operation (SIMOPS) in Singapore.

A X-Press Feeder container vessel, Eco Maestro, on its maiden voyage from Asia to Europe was successfully refuelled with close to 300 mt of bio-methanol by GET, a MPA licensed bunker supplier, using MT KARA

The ISCC-certified bio-methanol used for the SIMOPS was produced by green methanol producer OCI Global and supplied via GET, a ISCC-certified supplier.

Captain Choudhuri said the role of the marine, petroleum or bunker surveyor has evolved over the years in shipping and maritime affairs, but the principles have not - and that is to provide independent assessment of the quality and quantity of the product transfer. 

“This may seem obvious but this quality and quantity control is crucial to avoid commercial discrepancies, shortages or fraud,” he said.

“Safety training is critical and we have been on top of this having completed the required MPA fire-fighting course and the IBIA Methanol training course. We will work more with the Singapore Maritime Academy for trainings in future,” he added.

In August last year, Singapore-headquartered independent common carrier X-Press Feeders launched its first ever dual-fuel vessel Eco Maestro in China.

Manifold Times previously reported VPS stating it was the first company to complete a methanol bunker quantity survey (BQS) operation in Singapore on 27 July last year.

VPS was appointed by Maersk and Hong Lam Marine Pte Ltd, to undertake the very first bunker quantity survey (BQS) of a methanol fuel delivery, supplied by Hong Lam to the Maersk vessel on its maiden voyage to Europe. 

Related: First SIMOPS methanol bunkering operation completed in Singapore
Related: VPS completes quantity survey on Singapore’s first methanol bunkering op
Related: Singapore bunkering sector enters milestone with first methanol marine refuelling op
Related: X-Press Feeders launches its first methanol dual-fuel vessel “Eco Maestro” in China


Photo credit: VPS
Published: 29 May 2024

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LNG Bunkering

Gasum and Equinor ink continuation of long-term LNG bunkering agreement

Agreement builds on the success of the previous contract Gasum has had with Equinor; Gasum’s bunker vessels “Coralius”, “Kairos” and “Coral Energy” will be used for the bunkering operations.





Gasum and Equinor ink continuation of long-term LNG bunkering agreement

Nordic liquefied natural gas (LNG) bunker supplier Gasum on Tuesday (28 May) said it signed a long-term contract with Norway-based global energy company Equinor whereby Gasum continues to supply LNG to Equinor’s dual-fuel chartered fleet of vessels. 

The agreement builds on the success of the previous contract Gasum has had with Equinor. Gasum’s bunker vessels Coralius, Kairos and Coral Energy will be used for the bunkering operations.

The agreement also includes additional support services such as cooling down and gassing up, which has also been a part of Gasum’s previous collaboration with Equinor. 

Gasum has organised three separate LNG cool down operations for Equinor in Skagen so far this year.

Both Gasum and Equinor have committed to sustainability goals to enable a cleaner energy future. Equinor’s ambition is to become a net-zero emissions energy company by 2050.

Using LNG in maritime transport means complete removal of sulfur oxides (SOx) and particles, and reduction of nitrogen oxides (NOx) emissions of up to 85 percent as well as a reduction in CO2 emissions by at least 20%. LNG is interchangeable with liquefied biogas (LBG/bio-LNG), which reduces carbon dioxide emissions by 90% compared to conventional fuel such as marine gasoil (MGO).

With LNG and bio-LNG the maritime industry can reduce emissions already today, instead of waiting for future solutions. Gasum’s strategic goal is to bring yearly seven terawatt hours (7 TWh) of renewable gas to market by 2027. Achieving this goal would mean combined carbon dioxide reduction of 1.8 million tons per year for Gasum’s customers.

Related: Equinor Energy AS extends LNG bunkering agreement with Gasum
Related: Gasum expands LNG bunkering business to ARA region through partnership with Equinor


Photo credit: Gasum
Published: 29 May 2024

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Consortium inks MoU for facility in Egypt to produce green methanol bunker fuel

AD Ports Group, Transmar and Orascom Construction will develop a green methanol storage and export facility, which will provide bunkering solutions for mainliners who have ordered green methanol powered vessels.





Consortium inks MoU for facility in Egypt to produce green methanol bunker fuel

AD Ports Group, a facilitator of global trade, logistics and industry on Tuesday (28 May) said it signed a memorandum of understanding (MoU) with container shipping line and terminal operator Transmar and global engineering and construction contractor Orascom Construction for the development of a green methanol storage and export facility. 

AD Ports Group said the facility will aim to supply low-carbon fuel for maritime transport, presenting an opportunity to establish clean alternative energy storage solutions globally.

Green methanol is a synthetic fuel produced renewably and without polluting emissions, and can be produced from green hydrogen. This chemical compound can be used as a low-carbon liquid fuel and is a promising alternative to fossil fuels in areas where decarbonisation is a major challenge.  

Aside from the maritime industry, green methanol can help decarbonise other hard-to-abate industries, including chemical and plastics. 

“The addition of a facility in this area will provide bunkering solutions for those mainliners who have ordered green methanol powered vessels and is aligned with AD Ports Group’s overall decarbonisation strategy and expansion into clean energy liquid bulk storage,” the Group added.

Captain Ammar Mubarak Al Shaiba, CEO – Maritime & Shipping Cluster, AD Ports Group, said: "By signing this MoU with Orascom Construction who have vast international experience in bulk liquid terminals for Methanol storage, and Transmar, who have decades of expertise in this region and within terminal operations, AD Ports Group and its subsidiaries are taking a significant step towards the sustainable future of energy.”

“This initiative not only aligns with the UAE's decarbonisation goals but also accelerates the energy transition in shipping, positioning us at the forefront of the green hydrogen revolution and enabling us to contribute to global environmental stewardship and economic diversification."


Photo credit: AD Ports Group
Published: 29 May 2024

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