With a size of 159.9 meters and beam of 27.4 meters, the Capital Gas LCO2 carriers are designed to hold as much as 22,000 cubic meters of liquified CO2 at -55°C. [Image: HD Korea Shipbuilding]
With carbon seize and storage set to be an more and more vital a part of world decarbonization efforts , Evangelos Marinakis’s Capital Gas Ship Management Corp. has positioned an order for what would be the world’s two largest liquid CO2 (LCO2) carriers. With a 22,000 cubic meter capability, they’re significantly bigger than the world’s first two LCO2 carriers, the 2 7,500 cubic meter vessels ordered for the Northern Lights three way partnership mission.
The vessels have been ordered at South Korea’s Hyundai Mipo Dockyard. According to its dad or mum, HD Korea Shipbuilding & Marine Engineering, the contract is value KRW 179 billion (about $140 million).
Piraeus-headquartered Capital Gas says the order “constitutes not only a historical milestone for the Capital Group, but for the industry as a whole” that additionally “underscores the company’s commitment to playing a leading role in the global decarbonization efforts, as actions always speak louder than words”
Capital provides that it “expects the maritime transportation of CO2 to become a rapidly growing market, in which it aims to hold the premier position.”
With a size of 159.9 meters and beam of 27.4 meters, the vessels are designed to hold as much as 22,000 cubic meters of liquified CO2 at -55°C and to even have the aptitude to move ammonia and LPG, giving them appreciable buying and selling flexibility.
Capital says “they are also equipped with numerous energy-saving devices and have been prepared among others for LNG and other alternative propulsion fuels, while they are carbon capture and AMP (cold ironing) ready.” According to HD Korea Shipbuilding, they are going to be “ammonia dual fuel ready.”
“The specification of these vessels is the outcome of meticulous planning and innovative execution of the company’s technical team, embodying the company’s commitment to in-house expertise and progressive thinking,” says Capital. “In choosing Hyundai Mipo Dockyard for this ambitious project, the company reaffirms the importance Capital assigns in aligning with top-tier partners, who reflect its own commitment to excellence.”
“It is expected that orders for large and ultra-large LCO2 carriers will continue in the future,” stated an official at HD Korea Shipbuilding, “we will lead the market in this field based on the technological development achievements that we have accumulated preemptively.”
The shipbuilding large says it has been striving to develop core applied sciences on this subject by receiving primary certification (AIP) from the American Bureau of Shipping (ABS), Lloyd’s Register (LR), and the Liberian registry for even bigger LCO2 carriers with 74,000, 40,000 and 30,000 cubic meter capacities.
How huge is the potential market? The shipbuilder cites the Global CCS Institute as saying that, as decarbonization insurance policies are accelerated worldwide, the carbon seize and storage market is anticipated to develop by greater than 30% yearly, and the worldwide carbon seize quantity is anticipated to achieve 7.6 billion tons by 2050.
