Business
High-Trend International Group Announces Strategy Update for Onboard Carbon Capture in the Shipping Industry
High-Trend International Group ("High-Trend" or the "Company") (NASDAQ: HTCO), a global ocean technology company that engages in international shipping services and new carbon neutral ocean technologies, today announced an update of its strategic plan regarding its Onboard Carbon Capture (OCC) systems to capture carbon dioxide (CO2) in the shipping industry. The Company is actively developing a business of providing carbon neutrality solutions for the shipping industry due to an expansive market
About this update from High-trend International Group
[{"type":"text","content":"SINGAPORE, May 12, 2025 /PRNewswire/ -- High-Trend International Group ("High-Trend" or the "Company") (NASDAQ: HTCO), a global ocean technology company that engages in international shipping services and new carbon neutral ocean technologies, today announced an update of its strategic plan regarding its Onboard Carbon Capture (OCC) systems to capture carbon dioxide (CO2) in the shipping industry. The Company is actively developing a business of providing carbon neutrality solutions for the shipping industry due to an expansive market opportunity as a result of heightened regulatory trends regarding carbon emissions.","length":654,"tagName":"p"},{"type":"text","content":"Shixuan He, Chief Executive Officer of High-Trend, commented, "We are in the process of implementing a strategic plan to transform our business to become a key provider of onboard carbon capture solutions to work with existing ship fuel and exhaust systems. This would include designing and installing carbon capture equipment, transporting captured carbon dioxide and participating in carbon credit trading. We intend to fund this strategic transformation through our existing cash balance, ongoing cash flow and joint venture partnerships. This initiative constitutes a practical solution to help decarbonize the shipping industry and to capitalize upon what we believe to be a dynamic market opportunity."","length":718,"tagName":"p"},{"type":"text","content":"According to Global Market Insights, a global market research and management consulting firm, the overall carbon capture and storage market was valued at approximately $8.8 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 16.7% from 2025 to 2034. The International Maritime Organization's (IMO) new framework, set to become mandatory for ships of over 5,000 gross tons that account for 85% of shipping emissions, is expected to significantly accelerate investment and adoption of carbon capture technologies within the maritime sector. In July 2023, the IMO revised upwards its carbon emission reduction targets which aims for net-zero greenhouse gas (GHG) emissions from international shipping by or around 2050. The regulations are designed to apply internationally, ensuring a level playing field and avoiding regional regulatory fragment...