The race to decarbonise is more urgent than ever, with 2050 fast approaching and the world still far from its net-zero goals. Achieving net-zero is no longer a one-size- fits-all journey—it requires a mix of solutions, from diversifying the energy mix to deploying alternative fuels and carbon capture. Collaboration across all, including the offshore business and marine services sector, industries is now essential.
By the end of 2025, global emissions are expected to reach around 40 Gigatonnes of carbon dioxide, and without strong mitigation, could climb to nearly 60 Gigatonnes by 2050. The main culprits? Power generation (38%), industry (25%), and transport (18%). (DNV, 2025)
The Role of the Carbon Capture in the Energy Mix
Fossil fuels still make up about 70% of the world’s energy supply and, even by 2050, are projected to account for half. This highlights the scale of the challenge ahead.
Carbon capture and storage (CCS) is a vital bridge, helping to close the gap between today’s fossil fuel reliance and tomorrow’s low-carbon alternatives. After 2030, hard-to-abate sectors like steel and cement will continue to emit significant carbon dioxide, making CCS indispensable. Yet, according to DNV, current CCS projects will only capture about 1.3 Gt/year by 2050—just 6% of global emissions. To meet net-zero, CCS capacity needs to grow sixfold. (ERIA, 2025)
What is CCS?
CCS involves three main steps: capturing carbon dioxide at the source (like power plants or factories), transporting it (usually by pipeline or ship), and storing it deep underground in geological formations. While some captured carbon dioxide can be used (for example, in enhanced oil recovery), the scale of utilisation is still small compared to the need for permanent storage.
CCS Hubs and Clusters
Because CCS infrastructure is expensive, the trend is toward developing hubs and clusters—centralised networks that collect, transport, and store carbon dioxide from multiple sources. This approach reduces costs, spreads risk and allows smaller emitters to participate. It also enables cross-border carbon dioxide transport, making offshore business, offshore deepwater solutions, and shipping the industry a crucial link in the CCS value chain. Notable examples include Norway’s Northern Lights project, the Porthos hub in Rotterdam, and Malaysia’s Kasawari project, which aims to serve as a regional storage hub for carbon dioxide imports from countries like South Korea and Japan (ERIA, Global CCS, 2024).
The Maritime Industry Role
Shipping accounts for about 3% of global greenhouse gas emissions and faces unique decarbonisation challenges due to the energy demands of long-haul voyages and limited alternative fuel options. The International Maritime Organisation (IMO) has set ambitious targets, aiming for a 40% reduction in carbon intensity by 2030 and net-zero emissions by 2050. The maritime sector is also key to CCS, providing the vessels needed to transport carbon dioxide across borders.
Key Challenges
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Technical & Infrastructure: Many emitters are far from suitable storage sites, and building pipelines, shipping terminals, and storage facilities is costly. In Southeast Asia, data gaps on storage sites further complicate planning for port and terminal operations.
- Regulatory & Policy: Different countries have different rules, and the lack of clear frameworks for cross-border carbon dioxide transport slows progress.
- Commercial & Financial: High upfront costs and uncertain revenue streams make it hard to secure investment, especially with volatile carbon pricing and unclear business models.
- Social Acceptance: Public concerns about safety, environmental impact, and the perception that CCS prolongs fossil fuel use can hinder adoption.
Maritime Specific Challenges
- Onboard Capture: Retrofitting petrol ships and LNG carriers with carbon capture systems is still in its infancy, with questions around technology readiness, regulatory incentives, and port infrastructure for offloading captured carbon dioxide. Though many initiatives such as Value Maritime have already established a name in the onboard carbon capture systems within regional voyages, long distance capture is still a challenge.
- Carbon dioxide Shipping: Large-scale, low-pressure carbon dioxide carriers are rare, and many ports lack the facilities to handle liquid carbon dioxide. International regulations are still evolving, and the high cost of specialised vessels is a barrier.
How to Move Forward
To overcome these hurdles, governments and industry must work together. Investment in port infrastructure, standardised ship designs, and harmonised regulations is essential. Flexible business models—like hub-and-spoke shipping networks—can help, as can early-stage subsidies to de-risk new projects. For onboard capture, supporting R&D, developing clear discharge protocols, and expanding carbon pricing or crediting schemes will encourage adoption. International collaboration, especially with organisations like the IMO, is vital to set global standards and ensure the maritime sector can scale up CCS effectively.
CCS Value Chain: Opportunities for MISC
MISC is actively positioning itself within the carbon capture and storage (CCS) value chain, demonstrating strong commitment through several strategic initiatives. One of the key milestones is the recent approval in principle from DNV for a Floating Carbon Storage Unit (FCSU), developed in collaboration with Samsung Heavy Industries.
This innovative solution aims to enhance the CCS value chain by offering a floating platform for offshore carbon dioxide storage and potential injection, addressing a critical challenge in transporting carbon dioxide from emission sources to remote sequestration sites.
In parallel, MISC is exploring the commercial and technical viability of transporting liquid carbon dioxide at low pressures, working closely with various stakeholders to ensure a robust and scalable solution.
From the emissions capture perspective, MISC is progressing towards implementing onboard carbon capture systems across its existing fleet. This initiative not only supports the decarbonisation of maritime operations but also serves as a tangible demonstration of MISC’s commitment to its net-zero aspirations.
Conclusion
The CCS value chain is complex, but with coordinated action and forward-thinking strategies, it can become a cornerstone of industrial decarbonisation and maritime sustainability—especially in regions like Southeast Asia, where cross-border shipping, marine services, and commercial marine solutions will be key to unlocking CCS’s full potential.
This article was written based on these references:
DNV, 2025, Energy Transition Outlook: CCS to 2050. [online] Available at: https://www.dnv.com/energy-transition-outlook/carbon-capture-storage/.
ERIA, 2024, Comprehensive CCUS Research Report: Storage, Value Chain, Policy & Regulation and Financing. (n.d.). Available at: https://www.eria.org/uploads/Comprehensive-CCUS-Research-Report.pdf.
Global CCS Institute,2024, Global Status Report - Global CCS Institute. [online] Global CCS Institute. Available at: https://www.globalccsinstitute.com/resources/global-status-report/.
