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Time to curb seaborne cargo VOC emissions
Around 70 million barrels of hydrocarbons are lost yearly due to evaporation of Volatile Organic Compounds (VOC) during loading, storage and transportation of crude oil on ships. This is an environmental problem as well as a significant economic cost.
The lost amount represents a value of 3.0 to 3.5 billion USD annually. In other words: if you are a shipping operator, curbing seaborne VOC emissions is a chance to make your business more profitable. For a standard ship such as an Aframax tanker, the economic loss during a single voyage with full tank amounts to more than 40,000 USD.