The International Chamber of Shipping has released a 146-page report supporting onboard carbon capture and storage (OCCS) as a near-term option for cutting vessel emissions. The report, prepared by Lloyd's Register Advisory, assesses the technology's readiness, costs, fuel consumption, and regulatory challenges. It positions OCCS as a practical compliance tool while the industry waits for green methanol and ammonia to scale up. Shipowners face tightening IMO regulations through the 2030s, but alternative fuel supplies remain limited and expensive. The ICS report stops short of calling OCCS a silver bullet, noting technical and operational hurdles still exist. However, it argues that ignoring the technology is no longer an option as compliance costs rise and emissions targets tighten. For a fleet that will mostly burn fossil or transitional fuels for another decade, OCCS offers a way to buy time. The report gives owners a clearer view of where the technology stands today and what challenges remain before widespread adoption can happen.
