MOL announces completion of Concept Study of LCO2 carrier

Tokyo headquartered Mitsui O.S.K. Lines, Ltd. (MOL) in cooperation with Mitsubishi Shipbuilding Co., Ltd. (MSB) 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.