Completion of Concept Study of Liquefied CO2 Carrier

TOKYO : Mitsui O.S.K. Lines, Ltd. (MOL) President & CEO: Takeshi Hashimoto) in cooperation with Mitsubishi Shipbuilding Co., Ltd. (MSB ; head office: Yokohama, Japan; President: Toru Kitamura) of the Mitsubishi Heavy Industries Group, have completed Concept Study of the multiple hull forms for a liquefied CO₂ (LCO₂) carrier that can potentially be the mainstream in the LCO₂ shipping market in the near future.

LCO₂ carriers will play an important role in the CCUS (Carbon dioxide Capture Utilization and Storage) value chain, which is attracting attention as a means of realizing a low-carbon and decarbonized society, by efficiently connecting captured and LCO₂ to storage areas.

In order to meet future demand for LCO₂ transportation, MOL and MSB have completed Concept Study of the multi-hull forms which were considered as the most effective and practical. In order to flexibly cope with the volume of cargo transported, the total cargo tank capacity up to around 50 000 m3 were designed with consideration of different tank pressure settings.

In order to flexibly respond to customer needs based on the entire value chain, we will make rapid efforts to realize a larger LCO₂ carrier with a high degree of difficulty and develop a variety of ship types. In addition, MOL will contribute to the realization of a low-carbon and decarbonized society by overcoming the challenges faced in the transportation of LCO₂ and accumulating operational knowledge.

MOL entered the business of transporting liquefied carbon dioxide (CO₂) by sea in March 2021, when it invested in Larvik Shipping AS (LS; Headquarters: Norway), which has managed industrial LCO₂ carriers in Europe over 30 years. By combining its accumulated experience in safe vessel operation and cargo handling with LS’s know-how and solid track record, MOL will keep examining ways to expand the scale of LCO₂ carriers and contribute to the further worldwide development of the LCO₂ ocean transport business.

MOL established “MOL Group Environmental Vision 2.1” and set a medium and long term goal of achieving net zero GHG emissions by 2050. For achieving this goal, we have set out five initiatives focuses on climate change. We will contribute to reducing GHG emissions in society through our LCO₂ transportation business.

December 2020 : Participated in the 2 offshore CO recovery and storage hub project in Australia (deepC Store)
March 2021 : MOL to Move into Ocean Shipping of Liquefied CO₂ Ocean Transport Business through Investment in Norway’s Larvik Shipping AS
May 2021 : Klaipedos nafta, Larvik Shipping, and Mitsui O.S.K. Lines will carry out a feasibility study for liquefied CO₂ and hydrogen project in Klaipeda, Lithuania

June 2021 : MOL Joins International Think Tank and accelerate development for Carbon Capture, Utilization and Storage
June 2021 : MOL Starts Research and Development on Large-scale Liquefied CO₂ Carrier – Part of NEDO Demonstration Project entrusted by Japan CCS –
June 2021 : MOL Joined as one of the initial supporting members of the Asia CCUS Network
July 2021: “Ship Carbon Recycling Working Group” of Japan’s Carbon Capture & Reuse Study Group has confirmed that carbon recycled methane can be recognized as zero emission ship fuel