Onboard Carbon Capture and Storage (OCCS) the storage of CO2 directly on board ships, even if does not represent a definitive solution to the decarbonisation of the maritime transport, is one of the most to close the gap between climate and climate current limitations on the availability of fuels alternatives. This is highlighted by the report "Onboard Carbon Capture and Storage Review" commissioned to Lloyd's Register Advisory by the International Chamber of Shipping (ICS). The document stresses that OCCS technology is gaining ground as a potential solution to allow both new ships existing ones to comply with the increasingly stringent on greenhouse gas emissions and, in particular, specifies that OCCS is one of the few options to short term that can provide significant reductions in tank-to-wake greenhouse gas emissions for ships that will continue to operate on conventional or transitional fuels until 2030.

Presenting the results of the study today, the ICS highlighted whereas the report was commissioned at a time when the International shipping is making progress in its path and in which they are not available to date alternative fuels on a large scale. The report analyses the current state of OCCS technologies, including an assessment based on key criteria such as maturity fuel consumption, costs, safety and environmental performance, as well as the latest developments in the framework regulatory.

The report states that, if the OCCS is technically feasible and has already been demonstrated at sea on several types of ships and technologies, however, its diffusion depends on the resolution of three gaps which are interconnected: on-board integration, the infrastructure for the and certainty regarding the rules and from an economic point of view.

The report explains that from an economic point of view, the competitiveness of the OCCS is highly dependent on the evolution of the carbon and fuel prices. Feasibility studies show that retrofit costs can be significant. However, with the increase in emissions penalties and the increase in the development of markets for the use of captured CO2, economic convenience tends to improve significantly.

With regard to the rules in force, the report notes that the international regulatory framework is still fragmented and incomplete and, in terms of emissions accounting, instruments currently adopted by the IMO, such as the EEDI, the EEXI and the CII, do not provide for specific methodologies to recognize CO2 captured on board. This means that, while reducing the actual emissions, to date the installation of capture systems does not generate direct compliance benefits legislation. The European situation, on the other hand, appears more advanced system, since, under the European Securities Exchange System EU ETS emission allowances, CO2 captured and subsequently stored permanently can already result in a concrete economic advantage. However, the European regulation FuelEU Maritime does not yet include OCCS recognition and will only be able to do so after the development of a methodology as part of the regulatory review expected by 2027.

The report notes that the absence of clear rules represents therefore one of the main obstacles to the commercial development of the technology, as it limits incentives for investment, and points out that the real enabling factor will be precisely the evolution of the regulatory framework and only through the official recognition of the carbon dioxide captured, the creation of harmonised standards and the development of infrastructure international dedicated activities, it will be possible to transform the OCCS from experimental solution with a structural component of the maritime decarbonization.

"It will take - commented Chris Waddington, director ICS technician - a few years before the availability of green fuels are in line with demand and, in the meantime, the Carbon capture and storage on board has the potential to make a significant contribution to the decarbonisation of the sector maritime. The many technological options and the complex framework can be disorienting. Nevertheless, the report answers many of the questions that shipowners have asked themselves and provides a great starting point for those who are considering OCCS as part of its decarbonization strategy."

"Shipowners," Olympia Tsitonaki stressed, Decarbonisation Specialist and report project leader for Lloyds Register Advisory- they need practical options thanks to the which can be acted on immediately to improve performance in terms of emissions, while continuing to operate efficiently. As regulations tighten, the industry is looking for of tools, information and guarantees that can support better fleet management decisions, and investment planning. This report provides a clearer view of the current state of the capture of the carbon on board, the challenges still to be faced and how could support compliance and efficiency goals in the years to come."