Class society Korean Register (KR) has signed a memorandum of understanding with K Shipbuilding, Sunbo Industries, and Dongsung Finetec to jointly develop a 12,000 cbm liquefied CO2 (LCO2) carrier design.
As carbon capture, utilization, and storage (CCUS) technologies become increasingly important in response to the global trend in decarbonization policies, the demand for LCO2 carriers to transport captured carbon dioxide by sea is expected to grow significantly, with many orders expected.
K Shipbuilding will lead the development and design optimization of a medium-pressure LCO2 carrier with a design pressure of 19 bar.
Sunbo Industries will pioneer the development of a cargo handling system and a fuel supply system. In addition, Dongsung Finetec will undertake the development of LCO2 cargo tanks and LNG fuel tanks, and KR will verify the safety and suitability of the ship in accordance with the classification rules and international conventions, ultimately granting approval in principle of the design.
This collaborative effort is anticipated to propel the progress of the 12,000 cbm LCO2 carrier development project with enhanced efficiency.
According to Rystad Energy, more than 90m tonnes per annum of CO2 will be shipped by the end of the decade, volumes requiring 48 terminals to handle the import and export of the gas with a fleet of 55 carriers required by 2030.
