Ecochlor has planned to collaborate with Diana Shipping on CCS technology

Ecochlor, who served as the global sales representation for Sinotech, negotiated the collaboration with Diana through Mr Panos Smyroglou, Ecochlor’s VP of Sales & Marketing. The LOI included the installation of a Sinotech scrubber and CCS system onboard one of Diana’s capesize bulk carriers, the MV G.P. Zafirakis. The system was designed to capture 25% of the CO₂ emitted within the exhaust gas and temporarily store it onboard in liquified form (LCO₂). Sinotech will provide the expertise for a full feasibility study, engineering and overall turn-key package for the installation, crew training as well as full support towards type approval certification of the installed system by vessel’s administration. Sinotech will also handle the offloading and disposal of the captured CO₂ in China. The installation is intended to take place at a Chinese shipyard, most likely in the Zhoushan province.

Furthermore, the LOI expressed the intention of the parties to explore potential business opportunities and lay the groundwork for future cooperation on matters beyond this initial scrubber and CCS installation.

The CO₂ captured by the Sinotech CCS system will greatly contribute to Diana’s pledge to be a leader in environmental sustainability in the maritime industry. The success of this partnership also highlights the strong relationships and expertise that Ecochlor displays in concluding impactful collaborations.

Dr Evangelos Sfakiotakis, COO of Diana, explained the company’s commitment to decarbonisation. “Our ambition is to be a catalyst for positive change in the maritime industry,” said Dr Sfakiotakis. “We endorse IMO’s Initial GHG Strategy on the reduction of GHG emissions and are working towards phasing out GHG emissions from our shipping entities as soon as possible.” Diana Shipping has a global reputation for high standards of conduct, performance, and safety, making them an ideal partner for this initiative.

Phil Gao, Vice General Manager of Sinotech, praised the shipping company for its commitment to driving change in the maritime industry. “We are delighted to collaborate with Diana Shipping, a key player in the industry’s transition to a more sustainable future. At the same time, our company commits to the continued research, development, and innovation of green and zero-carbon technology.” In early 2022, Sinotech received an Approval in Principal (AiP) certificate for marine CCS products from Lloyd’s Register (LR), Nippon Kaiji Kyokai (Class NK), and Bureau Veritas (BV). Using years of land-based CCS data and optimisations, Sinotech is in a position to showcase the very low energy input required to achieve the recommended CO2 capture rates.

Ecochlor, a green marine technologies company for the shipping industry, partnered the agreement. Andrew Marshall, CEO of Ecochlor, highlighted the importance of this collaboration and the shared goals in achieving sustainable solutions, “We are excited to work with Sinotech and Diana Shipping, and we believe that this cooperation will further our mutual interests towards reducing the carbon footprint in shipping. Ecochlor is committed to supporting the industry’s decarbonisation efforts by providing economically viable and effective solutions to shipowners.”

The LOI marked a significant milestone in the ongoing efforts to improve the maritime industry’s environmental sustainability, and Ecochlor, Sinotech, and Diana Shipping are proud to join forces and play a leading role in the endeavour.

Read the article online at: https://www.drybulkmagazine.com/shipping/22112023/ecochlor-has-planned-to-collaborate-with-diana-shipping-on-ccs-technology/