KR (Korean Register) has signed a Memorandum of Understanding (MoU) with K Shipbuilding, Sunbo Industries and Dongsung Finetec to jointly develop a 12,000m3 liquefied CO2 (LCO2) carrier design.
As Carbon Capture, Utilisation and Storage (CCUS) technologies become increasingly important in response to the global trend in decarbonisation policies, the demand for LCO2 carriers to transport captured CO2 by sea is expected to grow significantly, with many orders expected.
K Shipbuilding will lead the development and design optimisation 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 (AiP) of the design.
During the signing ceremony, the companies discussed strategies to ensure the project’s success and concurred on the significance of securing technologies that will spearhead decarbonization in light of impending global warming. This collaborative effort is anticipated to propel the progress of the 12,000m3 LCO2 carrier development project with enhanced efficiency.
Lee Hyungchul, KR Chairman and CEO said: “Through the collaboration of K Shipbuilding, Sunbo Industries and Dongsung Finetec, we look forward to the successful completion of the project, and to leading innovation and promoting growth in the maritime industry.”