HD Korea Shipbuilding & Marine Engineering, a subsidiary of HD Hyundai, has won an order for two world’s largest liquefied carbon dioxide (LCO2) carriers from Greece-based Capital Maritime Group.
The contract for the construction of two 22,000 cubic metre LCO2 carriers awarded by the Evangelos Marinakis-led company is worth KRW 179bn ($141,5m). The carriers will be 159.9m in length, 27.4m in width, and 17.8m in height.
The two ships will be built at the Hyundai Mipo shipyard in Ulsan and are scheduled to be delivered in the second half of 2025.
This ship was developed to liquefy and transport CO2 as well as various other liquefied gas cargoes such as liquefied petroleum gas and ammonia.
In addition, it will be built as an eco-friendly, ammonia dual-fuel-ready ship that can realize carbon neutrality in the future.
“We hope to lead the market for carbon dioxide carriers in partnership with HD Hyundai, which is technically the most prepared in the field of next-generation eco-friendly ships,” an official from Capital Maritime Group said.
According to the Global CCS Institute, the carbon capture and storage market will grow by more than 30% every year, and by 2050, global carbon capture will reach 7.6 billion tons. Accordingly, demand for LCO2 carriers is expected to increase.
Lloyd’s Register and the American Bureau of Shipping awarded design approvals to Hyundai Mipo Dockyard for the development of 74,000, 40,000, 30,000, and 22,000 cbm last year. Marinakis’ Capital Gas Ship Management Corp came onboard the development project for the vessels in September last year.
Including these two LCO2 carrier orders, HD Korea Shipbuilding & Marine Engineering has received 112 new orders including 18 LNG ships, 20 LPG ships, 29 container ships, 33 product oil tankers, four PCTCs, two LCO2 carriers, three oil tankers, two medium-sized natural gas carriers, and one FPU.
The total contract value of these orders is around $14.53bn which is around 92.3% of the annual order target of $15.74bn.
