Ecochlor, Inc. is proud to announce a Letter of Intent (LOI) agreement with a global provider of shipping transportation services, Diana Shipping (Diana), and carbon capture and storage (CCS) specialist, Sinotech CCS Co., Ltd (Sinotech), sources Ecochlor.
Close Collaboration
Ecochlor, serving as the global sales representation for Sinotech, successfully negotiated the collaboration with Diana through Mr. Panos Smyroglou, Ecochlor’s VP of Sales and marketing. The LOI includes the installation of a Sinotech scrubber and CCS system onboard one of Diana’s capesize bulk carriers, the MV G.P. Zafirakis. This system is designed to capture 25% of the CO2 emitted within the exhaust gas and temporarily store it onboard in liquid form (LCO2). Sinotech will provide the expertise for a full feasibility study, engineering and overall turn-key package for the installation, and crew training as well as full support towards type approval certification of the installed system by the 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.
Significant Milestone
Dr. Evangelos Sfakiotakis, COO of Diana, explained the company’s commitment to decarbonization. “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 it an ideal partner for this initiative. Ecochlor, a cutting-edge green marine technologies company for the shipping industry, partnered with 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 decarbonization efforts by providing economically viable and effective solutions to shipowners.” This LOI marks 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 this endeavour.
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Source: Ecochlor
