First 22,000cbm LCO2 carrier order

The 160m-long 22,000cbm LCO2 carriers will be constructed at Hyundai Mipo Dockyard’s Ulsan shipyard. The vessels will be first large scale LCO2 carriers of their size upon delivery, with the first vessel expected to be delivered in H2 2025.

The collective value of the vessel order is KRW179Bn (US$141.5M). The vessels, which have been ordered by Capital Maritime Group, will be capable of carrying a variety of chemical cargoes, including liquefied petroleum gas (LPG) and ammonia (NH3), which will reduce their reliance upon the nascent carbon dioxide transportation market.

The HD KSOE announcement also confirmed that the vessels would be built with ‘Ammonia Dual Fuel Ready (Ammonia DF ready)’ notation, permitting their conversion to ammonia-fuelled propulsion in the future.

While HD KSOE notes that the global carbon capture and storage market could grow by more than 30% annually to reach 7.6bn tonnes in 2050, citing Global CCS Institute figures, which will drive demand for seaborne carbon dioxide transportation and LCO2 carriers, The Motorship notes that the local Korean market is evolving rapidly.

Korean chaebol POSCO Holdings announced plans to introduce carbon capture use and storage for its local steelmaking operations on 2 July, according to local media reports.