Singapore-based offshore and marine solutions provider, Seatrium, has successfully completed a Japanese-first onboard carbon capture and storage (OCCS) retrofit for the shipping giant Mitsui O.S.K. Lines (MOL).
The project involved the installation of Value Maritime’s Filtree system on the LR1 product tanker, Nexus Victoria, marking the first commercial deployment of a CO2 capture system on a Japanese vessel.
Begun in December 2024 and completed this week, the retrofit project aligns with the ‘MOL Group Environmental Vision’ to achieve net-zero greenhouse gas (GHG) emissions by 2050. By integrating the Filtree system – a next generation exhaust gas cleaning system (EGCS) with an additional CO2 capture unit – the vessel gains the capability to filter sulfur oxides (SOx), ultra-fine particulate matter (PM), and capture up to 10% of CO2 from exhaust emissions.
The captured CO2 is stored in onboard tanks ready for offshore discharge, with potential applications in greenhouse cultivation, methanol production, and the food industry.
Seatrium reported a robust financial performance in 2024, achieving an underlying net profit of S$200 million (US$148.3 million), driven in part by its ship repair and retrofitting division. The firm completed 231 projects in 2024, securing high-value contracts and reinforcing its position in the maritime emissions reduction market.
Commenting on the latest boost to Seatrium’s profitability, Chris Ong, CEO of Seatrium, said: ‘Maritime decarbonisation and fleet rejuvenation continue to drive demand in this part of our business.’ He referenced the company’s prior work on the LPG tanker Clipper Eris for Solvang, the Norwegian LPG and petrochemical transporter, which now has the capacity to store up to 70% of its onboard CO2 emissions. Seatrium has also secured a second OCCS retrofit for MOL and leads the market in emissions reduction retrofits.
