Oslo-listed product tanker unit of BW Group, Hafnia, has proposed to increase its authorised share capital by an additional 25%.

In a letter to the shareholders, BW Group chairman Andreas Sohmen-Pao asked to up the share capital from $6m to $7.5m by the creation of an additional 150,000,000 common shares of par value $0.01 each equally ranked with the existing shares of the company, closing yesterday at around $3.14.

The company’s current share capital is divided into 600m common shares of par value $0.01 each, of which close to 500m common shares have been issued.

Sohmen-Pao wrote that the move would provide Hafnia with a “greater degree of flexibility in structuring transactions and would allow it to issue new shares in connection with fund raising opportunities as and when they arise.”

Hafnia commercially operates a fleet of 252 vessels, including newbuilds, of which 146 are owned or chartered-in. The company reported a net profit of $21.3m for Q1 2022, with earnings per share of $0.05.

Source: https://splash247.com/hafnia-moves-to-up-share-capital-to-fund-growth/


MPA Chief Executive Quah Ley Hoon speaking at Ningbo Ocean Expo
A new event Ocean Expo Ningbo is promoting cooperation opportunities in the vibrant port city of Ningbo and the one of the world’s largest container ports Ningbo – Zhoushan.

On July 12-13, the Maritime Silk Road · Ocean Expo Ningbo Online was officially launched with over 80 companies participating in an online exhibition as well as a Smart Port Innovation Summit.

Zhigang Li, Deputy Secretary General of Ningbo Municipal Government, conveyed a message from Wei Hua, Executive Vice Mayor of Ningbo that the expo was a vital part of a strategy of “accelerating the construction of a strong ocean province, promoting the co-construction of Ningbo Zhoushan as a Leading Maritime Capital.”

The online Expo and Smart Port Innovation summit saw the participation officials from Singapore, the world’s second largest container port.

Quah Ley Hoon, the Chief Executive of Maritime & Port Authority of Singapore (MPA) said, “China and Singapore enjoy strong maritime relationship. Beyond strong collaboration between our port terminals, China’s Maritime Safety Administration (MSA) and MPA inked a memorandum of understanding (MOU) in 2021 to promote, accept and use electronic certificates for seafarers and ships for port clearance.  Thus far, we have conducted more than 10 trials on such operations, and can serve as a benchmark for other ports on e-port clearance.”

Ocean Expo Ningbo is an initiative led by Ningbo Municipal Government and Informa Markets, co-organised by China Shipowners Association and co-hosted by Ningbo Younage Exhibition Co., Ltd.

Bill Zhang, Vice President of Informa Markets (China), sees Ningbo as a natural location to hold the Ocean Expo giving opportunities for business cooperation. “We will take the opening of Ocean Expo Ningbo as an opportunity to introduce more cooperation and merger projects to promote the development of relevant industries in Ningbo,”he said.

Shouguo Zhang, Executive Vice President of China Shipowner’s Association, said they would make full use of this opportunity to enhance mutual understanding and explore cooperation opportunities to promote high-quality development of the global shipping industry.

In addition to the International Summit, Online Show Room, Meet Your Sea Friends and Online Match-making, Ocean Expo Ningbo will hold a larger offline exhibition in November 3 to 5 this year.

Source: https://www.seatrade-maritime.com/events/promoting-opportunities-and-cooperation-ningbo


With the European Union closing in on the final proposals and then adoption of its Emissions Trading System, Maersk provided an expert opinion to customers on what the impact and cost might be for shipments starting January 2023. The shipping giant acknowledges that key points of the legislation for shipping to be incorporated into the EU Fit for 55 packages still need to be resolved saying nonetheless that the costs for shippers will likely be significant.

Maersk reviews for customers the progress as well as the current differences in the EU proposals while pointing out that the EU measures are likely to be the first ones to enter into force. While they recognize that other jurisdictions are also exploring similar measures, the EU they expect will not only be first but will have more far-reaching consequences. “The EU measures carry a large degree of extra-territoriality potentially affecting cargo moving outside of the EU’s borders.”

Based on the EuropeanCommission’s version of the legislation as the terms are still being negotiated between the different bodies, Maersk makes assumptions on how the ETS “cap-and-trade” system will come into effect and how it will impact shipping. They noted that the concept calls for the emissions cap which is lowered over time with companies buying or assembling allowances. “The price of the allowances is not fixed but fluctuates according to the market demand and supply of emission allowances.”

Based on the latest developments between the European Parliament and the Council of the European Union, Maersk presented a model for the potential costs and what would be passed along to shippers. The model uses the assumption that the price of the European Union Allowance (EUA) will be around EUR 90 ($91.30 at current exchange rates).

Looking at the cost impact on dry cargo, Maersk sets the range of impact between approximately $100 and $200 based on distance and other factors. The average surcharge for shippers of dry cargo they estimate at nearly $160 with the highest cost on shipments between the West Coast of South America and Europe and the lowest from Northern Europe to Asia.

Reefer shippers can expect an even greater surcharge starting January 2023. The average is estimated at $235 with the range between approximately $150 and $325. The high and low are on the same routes as with dry cargo.

“The cost of compliance with the ETS will likely be significant therefore impacting the cost of shipping. It is expected that the volatility of the European Union Allowance (EUA) traded in ETS may increase, as the revised legislation comes into effect,” the expert opinion authored by Sebastian Von Hayn, Head of Network & Market Asia/EU concludes. “To ensure transparency, we plan to apply these costs as a standalone surcharge effective Q1 2023.”

Recognizing that it will be later in 2022 until a political agreement is likely to be reached, Maersk highlights the outstanding differences in the versions. For the purpose of their modeling, they used the European Parliament that abolishes the phase-in period instead meaning that the obligation to purchase allowances would be immediate versus the other drafts that started at 20 percent in 2023 and in the three subsequent years rise incrementally to 100 percent in 2026 and beyond. The proposals also vary if the allowances only pertain to CO2 or also include methane and Nitrous Oxide in the cap-and-trade limits.

Maersk also notes that the charges are linked to the ship and not the cargo making voyage planning even more critical. Some proposals also call for all voyages to be included regardless of if they are departing from a non-EU port or ending outside the EU.

Given the differing positions on elements such as the phase-in period, the percentage for voyages between EU and non-EU ports, and when carbon pricing begins, as well as other non-logistics related issues, Maersk advises customers that the negotiations will take some time before the details of the EU Fit for 55 package and its impact on shipping are finalized.

Source: https://www.maritime-executive.com/article/maersk-foresees-significant-customer-surcharges-from-eu-ets-proposals


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The UK government should embrace the maritime industry as a means to meet targets on ‘levelling-up’, decarbonisation and economic growth, according to Peel Ports.

The logistics group’s CEO Claudio Veritiero said the maritime sector and government should form a partnership to meet national objectives and overcome the remaining challenges from Brexit and the pandemic.

Peel Ports Group published a 40-page report “A level playing field – The role of ports in achieving better outcomes for the UK’s levelling up agenda,” a response to the UK government’s February 2022 levelling up white paper.

“There has never been a better time, nor a more pivotal time, for us to assert our ambitions, considering the current environment…  there is enormous scope for synergy between what is required for levelling-up, achieving Net Zero ambitions and the maritime logistics community,” said Veritiero.

The report said that coastal communities are under particular pressure, and that ports provide well-paying, productive jobs to people from the port hinterland area.

“There can be no levelling-up without giving current and next generations the chance to find their way in rewarding, meaningful work that also affords them and their families a good standard of living and hope for the future,” said the report.

Peel Ports’ own data showed 80% of its workforce of 2000 lives in the port hinterland area, its employees earn 36% above the UK average wage and are 51% more productive than the average UK worker.

The report goes into detail on the effects of its apprenticeship programme in Liverpool, the continued potential of the UK offshore energy sector, and the role of freeports in levelling-up.

Peel Ports said that the imbalance of UK cargo reflects a broader imbalance in the country, with 90% of deep-sea containers coming into the country’s south-east ports despite 60% of that cargo being destined for areas north of Birmingham.

“Levelling-up means looking at the most efficient way to transport goods to and from all parts of the UK, using the full stretch of the country to create quicker, easier and more reliable supply chains. In doing so it will benefit over-heated parts of the country while adding much-needed jobs and business opportunities to regions outside of the South East,” it said.

The group called for a new approach of utilising regional ports to increase capacity and capability, instead of short-term fixes to existing bottlenecks.

“A nationwide approach would result in a more sustainable supply chain, delivering cargo closer to the centres of economic activity, and greener use of the local logistic sector,” said the report.

Source: https://www.seatrade-maritime.com/ports/maritime-sector-best-hope-uk-levelling-net-zero-and-economic-growth


In January 2022, the Cruise Line Industry Association (CLIA) released its State of the Cruise Industry Outlook 2022 report in January, forecasting that 100 per cent of cruise lines will have resumed operations before the year’s end. Despite the expectation of new Covid-19 variants appearing, and the impact of the war in Ukraine, 2022 has been a positive year for the cruise industry. Already by May several major cruise lines had returned their entire fleet to service. In addition, with health authorities further relaxing Covid-19 travel restrictions and consumer confidence on the rise, cruise lines have gradually moved to eliminate occupancy caps onboard.

Focus needs to stay on safety
However, the return to passenger operations does not come without challenges. For operators, one of those challenges is training and building up the competency and knowledge of their crew.

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Thorough training of new and existing crew members is of utmost importance for the cruise industry to maintain a compelling safety track record.

Operational safety has always been a top priority in the cruise industry. Still, Captain Jan Solum, Area Manager for DNV and Director of DNV’s Cruise Ship Center in Miami, notes that it is more of a struggle for the industry to maintain its safety culture in the present climate. While vessels continue to return to service, Solum cautions that significant risks are hiding in plain sight. He believes it is paramount that cruise ship operators direct further attention to their crew to promote the safety culture vital to the industry’s successful return.

Covid shifted to safety focus
On 14 March 2020, the U.S. Centers for Disease Control and Prevention issued a no-sail order for cruise vessels to avoid the risk of introducing, transmitting or spreading Covid-19 on board while travelling. Similar words went out from authorities worldwide, and soon the global cruise industry was screeching to a stop. “This was a completely unprecedented situation,” says Solum. “When passenger operations stopped, revenue stopped coming in, and cruise companies were forced into making difficult decisions.” Those decisions included sending vessels into lay-up, reducing crew and staff, and taking on significant debt to maintain liquidity. No one had a clue how long the no-sail period would last. In the end it was 15 months before the first cruise ship set sail again from Miami.

“I had one executive tell me at that time when operations were restarting that if it had been clear at the beginning of the pandemic how long the industry would be out of commission and just how bad things would get, there wouldn’t be any cruise companies left today,” added Solum.

Much work was needed to bring the industry back online. Given that most vessels were at reduced manning levels, many shipboard and shore-based positions needed to be filled, making hiring one of the top priorities for operators. Solum explains: “Those who lost their jobs during the pandemic found employment opportunities elsewhere. Many of them didn’t return when the industry restarted, at least not to their previous role. So, to fill the personnel gap, operators had to widen their search more broadly and look at candidates with the right credentials, including those without experience in the cruise industry.”

Balancing health and safety measures
As cruise operations began again, changes have been made to the safety culture in the industry, Solum says. He acknowledges that many of these changes are a result of the new Covid protocols and procedures established to reduce health risks. “Naturally, much attention is going to the new protocols because the pandemic gripped our lives for such a long time,” he says. In the early days of the pandemic a public perception developed that cruise vessels were Petri dishes for Covid.

The industry has been working hard to shake this perception. “Cruise lines are actively striving to demonstrate that cruising is safe, but they can only fulfil this promise by strictly enforcing the health procedures and protocols.” Insufficient emphasis on the new protocols increases the risk of a Covid outbreak on board, which would damage the public’s perception of the industry and make it more challenging to sell cruises and secure future revenue.

However, the expert cautions that operators should be mindful to prevent the necessary extra emphasis on passenger health from overshadowing attention to other areas of safety. “An uptick in the number of near misses has been reported, and we’ve seen more unusual mistakes made on board vessels — not the kind of mistakes commonly made by experienced, seasoned crew. The new procedures are not the only contributing factor to the increase, but the trend is unsettling,” Solum states.

Crew training remains essential for safety
As vessels transition from lay-up to operation, the responsibilities of on-board personnel change, which also plays a role in the overall safety scenario. For those who worked throughout the lay-up period, the new manning arrangements require a mental adjustment. “While the individual responsibilities may change instantly, we are human beings, and we can’t just flip a switch. There is an adjustment period during which subconsciously you might find yourself compelled to continue doing what you were doing before. There is also the fact that every vessel has at least some crew members on board who joined recently from outside the cruise segment, and they may not be accustomed to how things are done in the industry.” It is imperative that operators invest in their personnel and provide continuous training, Solum adds. “This is where the value of running exercises and drills comes in. You don’t want to wait for real-life situations to start training. You want to see how the crew reacts in drills so that you can assess mistakes and correct them.”

It is essential to recognize this starting point when seeking to improve. “We have extensive training packages in our Maritime Academy, including marine accident and incident investigation training and tools to find opportunities to improve their management system (M-SCAT). We have also learned valuable lessons from the airline industry,” Jan Solum points out. “For example, our Advisory experts can help drive the right behaviour through the use of checklists and digital tools, or by conducting a review of the bridge resource management (BRM) system with a focus on learning from past near misses.”

Evaluating safety performance helps to improve
By performing DNV’s HOT assessment to evaluate the interdependencies between the human (H), organizational (O) and technological (T) dimensions, it is possible to identify the causes of weaknesses in safety performance and reveal discrepancies between the intended processes of the organization’s safety management system and what happens in reality.

In some respects, the cruise industry has had to reinvent itself in coming back online, says Solum. “It is almost like tearing down your house and rebuilding it from scratch,” he explains. “Before you begin construction, you need to examine the foundation to check what needs reinforcing. Otherwise, you may overlook something critical that could threaten the integrity of the structure you are building.”

With safety culture you can never rest on your laurels, he adds. It takes continuous effort and attention, and a focus on training and increasing the competence and knowledge of your staff and crew. “It is essential to take the time to understand your specific risks and ask yourself how you can address them. Reducing the number of near misses, statistically speaking, will lessen the risk of one of those incidents escalating to something greater,” he says. “In our current reality, we must focus on fighting Covid-19, but we can’t lose sight of the bigger safety picture as we do.”
Source: DNV, https://www.dnv.com/expert-story/maritime-impact/Promoting-safety-culture.html?utm_campaign=Cru_395_Safety%20Aspects&utm_medium=email&utm_source=Eloqua


North of England Club has joined the Maritime Anti-Corruption Network (MACN), a global business network that aims to tackle corruption and enable fair trade in shipping.

MACN’s activities include:

  • raising awareness of the issue;
  • implementing the MACN Anti-Corruption Principles and establishing best practices;
  • collaborating with governments, non-governmental organizations and wider society to determine and address the root causes of corruption;
  • and fostering a culture of integrity within the shipping community.

Mark Church, Head of Sustainability at North, said “that over 50,000 anonymous incidents have been reported to the MACN since its foundation in 2011 highlights the importance of its existence. By joining the Network, we can contribute towards the elimination of a significant but under-acknowledged threat – and in doing so, help ensure that our Members, and the maritime community at large, continue to trade with confidence.”

Source: https://insurancemarinenews.com/insurance-marine-news/north-joins-marine-anti-corruption-network/


Two sailors of the Peruvian Navy’s ship named the BAP Guise suffered burns when a fire broke in the ship’s engine room around 8 am on Monday as its crew was taking part in the biennial Exercise Rim of The Pacific in Hawaii, the Peruvian Navy reported.

The RIMPAC watch floor received news regarding the fire at 8 am per a spokesperson associated with RIMPAC. Other vessels assisted the Guise and its crew members.

Two critically injured patients were evacuated by a helicopter, officials of RIMPAC said.

Peruvian Ship
Image for representation purpose only

A US Navy helicopter from the aircraft carrier USS Abraham Lincoln picked up the injured sailors and took them to Oahu, where they were hospitalized.

RIMPAC tweeted that the raging fire in the engine room of Guise was extinguished by 1:40 pm. The Peruvian Navy statement said that no other crew members were injured and that the families of the injured were informed. Peruvian officials will assess the situation and present an initial report on the events to determine corresponding actions.

The biennial RIMPAC is the largest regular naval exercise in the world, and 2022’s iteration is the greatest of its kind. This year 26 countries are participating with 38 surface ships, four submarines, over 170 aircraft, 30 drones, and about 25,000 personnel in and around the Hawaiian Islands and Southern California from 29 June to 4 August.

The fire is not the first setback for RIMPAC’s event this year. Many exercise leaders and other members have contracted Covid, though several spokespeople have said the event proves the military can fight against an ongoing pandemic.

source: https://www.marineinsight.com/shipping-news/two-sailors-injured-after-peruvian-ship-caught-on-fire-during-rimpac-exercise/


Because of a combination of threats from dams and climate change, the Tonle Sap Lake is facing the eminent risk of ecological collapse.  Once plentiful fish and other species are fast disappearing, along with the livelihood of the people which for centuries have depended on the Tonle Sap for subsistence.

“The beating heart of Mekong is now on life support”, said Brian Eyler, senior fellow and director of Energy, Water, and Sustainability, Southeast Asia at the Stimson Center.  He was referring to Tonle Sap, a lake in the northwest of Cambodia, which is part of the Mekong River system.

The Tonle Sap, the largest freshwater lake in Southeast Asia, can swell across a floodplain up to 20 times the size of Singapore during the monsoon season.

According to journalist Abby Seiff, the lake, which awed ancient Chinese emissaries and European explorers with its vast size and bottomless fish population, is now at risk of ecological failure.

Threat from hydropower dams

China started damming the Lancang, its section of upstream Mekong River, in 1986.  Since then, China has built 11 hydropower dams along upstream Mekong within China’s borders and another 11 in Laos and Cambodia on the mainstream, along with hundreds of dams on its tributaries.

Hydropower dams have had a drastic effect on the Mekong River and its tributaries such as unseasonable flooding and droughts, low water levels in the dry season, and drops in the amounts of sediment carried by the river, with extreme consequences for biodiversity.

Every year, the Mekong floods force the Tonle Sap to swell five times from its low-water size and thus creating the largest lake in Southeast Asia. However, in 2019, the lake was in a state of record low-level, the water was warm, shallow and oxygen starved.

Using satellite imagery and river height gauges, a study by Eyes on Earth, a water resources monitor, gave credence to suspicions that Lancang water policies were partly responsible for the record droughts.

“The satellite data does not lie, and there was plenty of water in the Tibetan Plateau, even as countries like Cambodia and Thailand were under extreme duress,” Alan Basist, who co-wrote the report for Eyes on Earth, told New York Times. “There was just a huge volume of water that was being held back in China.”

According to the report, during the 2019 drought, China’s portion of the Upper Mekong received uncommonly high levels of rain but the resulting flow was stopped by the Lancang dams.

The lack of cooperation over dam operations between countries combined with shorter monsoon season and a longer dry season because of climate change, have resulted in loss of habitats, making it difficult for bird and fish species to survive in the ecosystem.

Farmers have difficulty farming

Agriculture was once the backbone of Cambodia’s economy, however, the agriculture industry’s share of GDP had dropped from 47 percent in 1995 to 22.8 percent in 2021.

“Both infrastructure projects in the stream and climate change contribute to the low water level(s),” said Khoy Rada, a research consultant specializing in agricultural development at Angkor Research and Consulting. This has resulted in lower groundwater levels and higher evaporation of existing water resources. Communities along the Mekong, specifically those that rely on the Tonle Sap, are all set to be affected, Rada said.

Yin Savuth, the director of the Department of Hydrology and River Works at Cambodia’s Ministry of Water Resources and Meteorology, also acknowledged climate change consequences, dams as well as the less intense rainfall, caused the record low levels of water in Tonle Sap.

Hydropower dams have drastically altered the natural rhythms of the region’s water resources. The natural cycle of the Mekong floods reversing the flow of Tonle Sap, thus creating a lake, has come later for the past two years, devastating fisheries and complicating agriculture.

The dwindling water resources have been changing communities.  Many started to move closer to the lakes while others fought each other for water as the streams began to run dry. Farmers further from the lake, realizing that floods may never come again, are forced to trap water as it comes into Tonle Sap from its tributaries.

“Folks at the periphery of the Tonle Sap are super water-stressed,” said Brian Eyler. “The next village downstream (then has) their water stolen. Streams can be diverted and I’ve heard that it’s getting ugly in that peripheral band where this water-stealing phenomenon has taken off in the last decade or so.”

Fishermen that can’t fish

Tonle Sap was teeming with fish once upon a time, earning the title of the world’s most productive inland fishery.  The lake acted as a crucial nursery for more than 300 species of fish, whose larvae are carried downstream into the lake by the flood pulse.

However, in recent years, the combined threats of overfishing, illegal fishing, drought, habitat destruction and the impacts of upstream dams on the Mekong River’s natural flow have wreaked havoc on fish populations and aquatic habitats throughout the river system.

Fishing can no longer put food on the table.  This forced locals to move to urban areas for low-paying and notoriously difficult construction work, according to Oudom Ham, an independent Cambodian consultant on climate change and river issues.

“Now they cannot even catch fish for their own consumption. They need to buy, which is ridiculous because they are fishermen but they cannot find fish for themselves,” he said.

“Fishermen compensate for depleting fish catches by taking out loans to help them get by but fishermen can’t do this in perpetuity. Something is going to break, either the livelihoods of millions or regional food security,” said Eyler of the Stimson Center.

The situation has been worsened by the COVID-19 pandemic.  Hou Savy, head of the Kampong Khleang Ecotourism Association in Siem Reap province, said that he has seen his community struggle through the Covid-19 pandemic.

“While Covid-19 has killed tourism and even the price of produce, the dams are killing the Tonle Sap. People used to be able to migrate to Thailand where there’s always work, but not now,” he said.

“No fish, no floods, no tourists and no migrant work – it’s really hard. I’ll sell my fish or my crops at low market prices,” he added. “The prices we’re selling at aren’t acceptable, but if there are buyers, we’ll sell. We all have debts to pay and they (the financial institutions) want their interest.”

“No one can definitively say whether the Tonle Sap has reached its ecological breaking point or when that breaking point will come,” says Brian Eyler. “We know it’s soon. But the thing that concerns me most is that it could be here and now.”

Source: https://maritimefairtrade.org/tonle-sap-danger-dying/


An outbreak of Covid-19 has been reported aboard cruise ship Coral Princess, where more than 100 people were currently sick, with many isolating on board the vessel in Brisbane, according to 7NEWSBrisbane.

Others were evacuated to isolate at home or in other accommodation and currently.

A Princess Cruises spokesperson told ABC News Australia that it was adhering to comprehensive protocols that were agreed in conjunction with federal and state authorities and we are confident that they are working effectively.”

After successfully controlling the virus for much of the early stages of the pandemic, Australia has been rocked by soaring Covid-19 case numbers, hospitalizations and deaths in recent months. Queensland, the province where the Coral Princess is currently located, recorded over 4,800 daily cases with 41,000 active cases documented.

The Coral Princess had an outbreak in early 2020 where at least two people died before the ship was permitted to dock in Miami. The Diamond Princess was one of the first headline grabbers when it came to Covid-19, suffering a large outbreak in February 2020 that led to several deaths.

source:https://insurancemarinenews.com/insurance-marine-news/another-cruise-ship-reports-major-covid-outbreak/


As a way of tackling global climate change, the ‘CO2 Capture, Transport, and Burial’ method has attracted attention as an intermediate step to achieving carbon neutrality. This has led to increased demand for technology for LCO2 carriers (Liquefied CO2 carriers) which can safely transport carbon dioxide captured in the supply chain.

Transporting CO2 in a liquid state requires a pressure C-Type cargo tank capable of withstanding a high vapor pressure of over 5 atmospheres or greater. However, this type of cargo tank is usually used for smaller carriers and there are technical difficulties in enlarging the size of the tank to meet the market need to transfer a larger amount of CO2 to storage facilities.

In addition, the tanks and supporting structures of LCO2 carriers must be designed with the greatest care because of the high specific gravity of liquefied CO2.

To address these technical challenges in designing LCO2 carriers, Korean Register (KR) and Hyundai Heavy Industries (HHI) conducted a joint development project (JDP) to develop 40K CBM LCO2 carriers fueled with LNG.

Under the JDP, HHI carried out the basic and structural design of the 40K CBM LCO2 carrier, while KR verified the safety and conformity of the design reviewing the class rules and international conventions. The resulting concept design has now been awarded Approval in Principle (AIP) by KR.

One of the main aims of the project was to explore the economic feasibility of large pressure-type CO2 storage tanks. To increase the size of the CO2 storage tanks, special materials with low-temperature and high-tensile need to be used instead of ordinary steel, which makes it challenging to control the thickness and weight of the tanks.

The LCO2 carrier designed which has been awarded AIP, is capable of storing up to 40K CBM using a type C pressure tank made of existing low-temperature and high-tensile materials. An LNG fuel propulsion system has been installed, ensuring low-carbon emissions during the carrier’s operation.

The safety of the carrier’s cargo hold, cargo tank and supporting structure has been verified and approved using KR’s SeaTrust-HullScan software solution which was developed in house.

A KR official said: “This AIP is a significant achievement, bringing the commercialization of large LCO2 carrier technology even closer. KR will continue to support the industry’s work to develop CO2 capture, storage and burial-related technologies, while proactively working to address the industry-wide challenge of decarbonization.”

Source: https://maritimefairtrade.org/korean-register-issues-aip-for-lng-fueled-lco2-carrier/


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