Clarksons Green Transition service, an in-house advisory offering by shipbroking and maritime services company Clarksons, has expanded to include liquified CO2 (LCO2).
As disclosed, Kenneth Tveter, the Global Head of Green Transition and LCO2, will oversee the implementation of a project-based approach to LCO2 shipping, which reportedly involves distinct operational considerations.
Clarksons said that this mode of transport requires an approach that considers the entire value chain, from a technical standpoint, including regime pressure, purity, and injection challenges, as well as regulatory aspects, noting: “The long lead time of each project means that we must work closely with our clients from the early stages until project execution to ensure positive outcomes.”
Tveter commented: “The industry is currently in its nascent phase. Looking ahead, we expect a considerable demand for LCO2 carriers as the industry matures, and projects move forward. Based on current project pipeline, we foresee a total demand of around 50 vessels within the next 5 years, but with upside potential. Our team is actively working on several LCO2 projects ranging from pure storage to more complex CCUS value chains with some regional differences.”
The Global Head of Green Transition and LCO2 claimed the company seeks to “provide visibility and mitigate risk by analysing market opportunities, developing shipping strategies and finally, project execution,” adding: “We have invested in the team to deepen our technical and commercial experience, demonstrating the importance we place in this emerging sector and the value that it can bring the industry as a whole.”