MOL, MISC, and PETRONAS collaborate to promote international CO2 transportation

The nation’s leading shipping line, MISC, Malaysian state energy company Petronas, and Japanese shipping behemoth Mitsui OSK Lines (MOL) have formed a joint venture to construct and run liquefied carbon dioxide (LCO2) carriers.

According to a joint statement from the firms, the JV, Jules Nautica, would work to become a major owner of LCO2 carriers, enabling the transfer of LCO2 to approved CO2 storage locations throughout the Asia Pacific area. According to the trio, the new business intends to collaborate closely with CO2 storage companies as well as carbon-emitting businesses to establish an integrated supply chain that satisfies expanding regulatory and environmental requirements.

The Shanghai Merchant Ship Design and Research Institute (SDARI) has finished the partners’ front-end engineering design (FEED) for a 62,000-cubic-meter LCO2 carrier. DNV has given the vessel preliminary approval, making it one of the most cutting-edge low-pressure, low-temperature LCO2 carriers available.

According to related news, Singapore-based floater owner and operator Yinson Production, a division of the Malaysian Yinson Group, and London-based K Line Energy Shipping (KLES), a subsidiary of another Japanese shipowner Kawasaki Kisen Kaisha (K Line), announced a partnership to develop floating storage and injection units (FSIUs) and LCO2 carriers for European CCS projects.