Hyundai Merchant Marine has signed a Memorandum of Understanding with Panasia to collaborate on developing an onboard carbon capture solution
The South Korean shipping major HMM Hyundai Merchant Marine has signed a memorandum of understanding with energy system expert Panasia to collaborate on an onboard carbon capture system for vessel application. They plan to study the onboard carbon capture system by conducting a feasibility study, economic analysis, and risk assessment of capturing CO2 from greenhouse gas emissions generated during vessel application.
Onboard carbon capture systems are getting under the spotlight as they are believed to have significant potential in reducing CO2 emissions. Their attractiveness hinges on the fact that shipowners would be able to cut their CO2 footprint in a relatively shorter time frame when compared to switching to alternative fuels.
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