South Korean shipping company HMM has said it will partner with shipbuilder Samsung Heavy Industries (KRX: 010140) and eco energy solutions provider PANASIA to carry out field tests of a carbon capture system on board one of its container vessels.
The technology is designed to capture carbon dioxide (CO2) emissions from shipping operations, leading to a reduction of the overall climate impact of the vessels.
The captured carbon, which will be stored in a pressurized tank, can be used to produce dry ice, among other uses.
HMM plans to install a carbon capture system on one of its container ships before the tests, which are due to be conducted in the second half of 2023.
In 2022, HMM and PANASIA carried out a feasibility study of the technology on board a multi-purpose vessel.
The study showed that the system can be installed on a container ship with no need to modify existing equipment or any impact on vessel operations, according to HMM.
Furthermore, HMM has announced that starting in 2024 it will replace the propellers on six of its container ships with more efficient ones designed for slow steaming, which is expected to lead to a 8-9% increase in energy efficiency.
Both these projects are part of HMM’s strategy to achieve carbon neutrality by 2050.