DSME signs tie-up deal on onboard CO2 capture, storage

SEOUL– South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Friday it has signed a business partnership agreement with Greek shipper GasLog and the American Bureau of Shipping (ABS) to jointly develop an onboard carbon dioxide (CO2) capture and storage (OCCS) unit.

Under the deal recently signed during the world’s top shipping fair, Posidonia 2022 in Greece, the three companies will set up a joint working council to be in charge of designing an OCCS system and installing it on liquefied natural gas (LNG) carriers to be constructed by DSME.

An OCCS system allows the capture and storage of CO2 on board before releasing it safely after making a port call.

DSME said it has core OCCS-related technologies and patents through cooperation with local machine and parts manufacturers.

ABS, the American maritime classification society, will be tasked with coming up with overall rules related with the development of an OCCS unit and overseeing the process for obtaining “approval in principle” from relevant authorities, it added.

Last year, DSME, the world’s No. 4 shipyard by order backlog, inked a deal with GasLog to build four LNG carriers, which will be equipped with DSME’s OCCS unit and delivered by 2024.

A DSME official said the business tie-up deal will likely help the shipyard emerge as a leader in the field of eco-friendly shipbuilding technologies.

Source: Yonhap News Agency

scroll to top