Clarksons/CCSA Report: Updated Costs for CO₂ Ship Transport

Today Clarksons, supported by the Carbon Capture & Storage Association (CCSA), publish a report on “Updated Costs for CO2 Ship Transport”. This study was scoped and led by Clarksons, with peer review provided through the CCSA’s Non-Pipeline Transport working group.

The primary purpose of the report is to provide guidance on the likely cost of transportation of liquefied CO2 by ship, given current price conditions (at time of publishing), and to build on CCSA’s previous publication ‘Achieving a European market for CO2 transport by ship’ on the crucial role of shipping for CCUS in Europe. The report provides a useful benchmark on the expected costs of multiple aspects of the shipping value chain and supports an increase of knowledge throughout the CCUS sector with its publication.

With shipping transportation an essential component of the future CO2 transport system and an integral enabler for the deployment of many dispersed and cross-border CCS projects, it is essential to explore the potential cost and opportunities of this developing market.

The report focuses on a number of example trade routes within Northwest Europe, selected only to give a broad comparison of different possible costings, and should not be considered as any indication of market development. Ship transport is expected to benefit a large number of clusters and projects beyond those routes described in the report.

Whilst no study can replicate the results which might be obtained in an established market where the infrastructure is in place, cost factors are known, and firm shipping requirements can be placed into the market; the results of this study give a theoretical but near realistic estimate. The report provides helpful insights into the different parameters which can affect the cost of CO2 transportation by ship and demonstrates that shipping CO2 is a viable option for multiple clusters and routes across Europe, including but not limited to those included in the study.

Read the full report here.
Visit the Clarksons website here.
Clarksons can be contacted at CO2@clarksons.com