A signing ceremony has taken place for bare boat charter and time charter contracts for two 7,500m3 liquefied CO2 ships between Kawasaki Kisen Kaisha (‘K’ Line) and the Norwegian Northern Lights joint venture.
Both companies shared the recognition that carbon capture and storage (CCS) is an essential infrastructure in reaching the world’s climate goals and the companies have agreed to develop cross-border CO2 transport and storage network and through both companies’ expertise to provide safe, reliable and flexible liquefied CO2 shipping solutions.
The ships will be delivered in 2024 and will contribute to the world’s first full-scale CCS value chain. London-based subsidiary ‘K’ Line LNG Shipping (UK) will undertake the management of two ships transporting liquefied CO2 from industrial emitters, including the Norcem Brevik and Hafslund Oslo Celsio carbon capture facilities, to the Northern Lights CO2 receiving terminal in Øygarden, Norway.
Børre Jacobsen, MD Northern Lights, said: “’K’ Line has a long history of creating innovative shipping solutions. Together with their ability to overcome changing business conditions and working to ensure safe and reliable operations, this will be key for making this ground-breaking and pathfinding collaboration a success.”
Satoshi Kanamori, Executive Officer ‘K’ Line added: “Northern Lights plays the key role of ‘Longship project’” for the decarbonisation of European industry. ‘K’ Line Group is determined to work together to conduct safe and highly reliable shipping operations.”
