MOL, KEPCO set to design LCO2 carrier

MOL, KEPCO set to develop LCO2 carrier design for the CCS Value Chain

Mitsui O.S.K. Lines, Ltd. (MOL) and The Kansai Electric Power Co., Inc. (KEPCO) have announced the signing of a service agreement to conduct feasibility research on the design of a liquefied CO2 (LCO2) carrier at shipyards in Japan and overseas.

The agreement comes after the completion of an initial joint study on LCO2 transport based on a Memorandum of Understanding (MoU) between the two companies, under which MOL and KEPCO have been jointly studying the optimal system for ocean transport and storage of LCO2, focusing on CO2 emitted from KEPCO’s thermal power plants to establish a CCS value chain.

READ: MOL, JERA sign long-term charter agreement for new LNG carrier

Under the terms of the service agreement, the companies will perform research to determine the appropriate ship size for the CCS value chain, which will be built by KEPCO, with the goal of realising maritime transport of LCO2.

The companies aim to accelerate actions toward the realisation of a zero-carbon society through full-scale surveys and studies aimed at the realisation of LCO2 vessels, which will play a key role in the development of the CCS value chain.

In October, MOL announced the launch of MarTrust, an ocean shipping payment service for all seafarers onboard vessels controlled by MOL Group ship management companies.

One month later, MOL and Pyxis Maritime Pte Ltd. (Pyxis) signed a MoU to work together on the development and marketing of electric vessels (EVs) in Singapore and Japan.

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