Mitsui O.S.K. Lines, Ltd. (MOL), PETRONAS CCS Ventures Sdn. Bhd. (PCCSV), and MISC BERHAD (MISC) have announced the establishment of a joint venture company, Jules Nautica Sdn. Bhd., to lead the development and ownership of liquefied carbon dioxide (LCO2) carriers, according to MOL's release.
These carriers are essential for transporting LCO2 to designated storage sites, supporting carbon capture and storage (CCS) initiatives.
The partners have completed the Front-End Engineering Design (FEED) for a 62,000 cubic meter LCO2 carrier, which was awarded to Shanghai Merchant Ship Design And Research Institute (SDARI).
This design received the General Approval for Ship Application (GASA) certification from DNV in December 2024, making it one of the most advanced low pressure, low temperature LCO2 carrier designs in the sector.
The JV aims to become a leading owner of LCO2 carriers, facilitating the safe and efficient transportation of LCO2 across the Asia Pacific region.
It will also help complete the CCS value chain through strategic commercial agreements with CO2 emitters and storage companies, addressing environmental and regulatory requirements.
MISC Berhad is a global maritime corporation based in Malaysia, with over 55 years of experience. It operates a modern and diversified fleet and provides comprehensive solutions across the maritime energy value chain.
PETRONAS CCS Ventures Sdn Bhd is a wholly owned subsidiary of PETRONAS, Malaysia’s national oil and gas company.
Mitsui O.S.K. Lines, Ltd. (MOL) is one of the world’s leading ocean shipping companies, operating over 900 vessels globally.