Fintech News & Trends in Hong Kong and Asia

Mitsubishi Shipbuilding and Mitsui O.S.K. Lines Complete Concept Study for LCO2 Carrier

TOKYO, Nov 10, 2021 – (JCN Newswire via SEAPRWire.com) – Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has recently completed a concept study with Mitsui O.S.K. Lines, Ltd. regarding liquefied CO2 (LCO2) carriers. This project will combine Mitsubishi Shipbuilding’s advanced gas handling technologies accumulated through the construction of liquified gas carriers (LPG and LNG carriers), with Mitsui O.S.K. Lines’ wealth of knowledge on operations for a wide range of vessels, to facilitate the development of technologies for marine transport of CO2, a field where demand is projected to increase globally.

Image of an LCO2 carrier

Carbon dioxide capture, utilization, and storage (CCUS) is attracting attention worldwide as an effective means to achieve a carbon neutral world. LCO2 carriers will play a pivotal role in the value chain by transporting LCO2 to storage sites and facilities for utilization, and demand for these vessels is expected to increase in the future.

Mitsubishi Shipbuilding is actively pursuing commercialization of LCO2 carriers as part of MHI Group’s strategic initiative for the energy transition, bringing together technologies and knowledge gained from construction of liquified gas carriers in an effort, as a marine system integrator, to support decarbonization at sea. This cooperative project is expected to make a significant contribution to the establishment of a CO2 ecosystem in the CO2 transport sector, which will be an essential component of the CCUS value chain.

Mitsui O.S.K. Lines entered the LCO2 marine transport business in March 2021 by making an investment in Larvik Shipping AS, a Norwegian firm with more than 30 years of experience managing LCO2 vessels for industries in Europe. This cooperative project combines the knowledge for safe ship operations accumulated by Mitsui O.S.K. Lines and the know-how and experience possessed by Larvik Shipping to explore the potential for realizing LCO2 carriers that meet customer needs.

Going forward, Mitsubishi Shipbuilding, through this cooperation with Mitsui O.S.K. Lines, will continue its efforts to develop a wide range of technologies for LCO2 carriers essential to establish a CCUS value chain, and contribute to the realization of a carbon neutral world.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on www.spectra.mhi.com.

Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)