Japanese shipowners join LH2 transportation and carrier consortium

The deal will see Kawasaki Kisen Kaisha (K LINE), Mitsui OSK Lines (MOL), and Nippon Yusen Kabushiki Kaisha (NYK) join JSE Ocean, a subsidiary of JSE. JSE will retains a majority shareholding in the joint venture.

The consortium is seeking to explore the safe, efficient operation of the world’s first large-scale LH2 carrier by 2024, while developing a viable marine transportation business scheme. 

The proposed large-scale LH2 carrier will also be fuelled by hydrogen, which will significantly reduce its CO2 emissions during operation. The Motorship reported that ClassNK issued an Approval in Principle (AiP) for a large liquefied hydrogen carrier developed by Kawasaki Heavy Industries (KHI) in 2022.

Japan’s latest Basic Hydrogen Strategy identified hydrogen as a potential route to decarbonise its economy. In June 2023, Japan established an annual target of importing 3 million tonnes of hydrogen by 2030, 12 million tonnes by 2040, and 20 million tonnes by 2050.

The strategy envisages that the delivered supply cost of hydrogen will fall from JPY30/cubic nano metre to JPY20 /Nm3 in 2050 at the point of arrival in Japan. To achieve these price and volume targets, and create a secure global supply chain, transport by ship is crucial.