Korean conglomerates join forces to ship CO2

The Koreans are getting in on the CO2 carrier bandwagon. Steelmaking giant Posco has teamed with Hyundai Mipo Dockyard and its parent Korea Shipbuilding & Offshore Engineering along with Lloyd’s Register and the Liberian registry to develop a liquid carbon dioxide carrier tanker. The team aim to launch a 20,000 cu m CO2 carrier by 2025.

“With partner firms, Posco will open a new, green era by developing the world’s first, large-scale liquid CO2 tanker,” said Kim Sang-chul, who heads Posco’s energy and shipbuilding marketing office.

In neighbouring Japan, Mitsubishi Heavy Industries (MHI) rolled out plans earlier this year to commercialise a CO2 carrier design by 2025. Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (K Line), two of Japan’s largest shipping lines, are part of a different team setting out to design larger liquefied CO2 carriers.

In Denmark, Evergas and Ultragas joined forces this May in a joint venture called Dan-Unity CO2 to start shipping carbon dioxide. Dan-Unity CO2 is now working on developing a cargo tank design and system for semi-ref gas carriers several times larger than the few smaller CO2 carriers in operation today.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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