Korean Register (KR) and Daewoo Shipbuilding & Marine Engineering (DSME) have signed a memorandum of understanding (MoU) to develop a new 40,000m3 LCO2 carrier featuring a next generation cargo handling system.
The concept will help meet the growing demand for vessels capable of transporting carbon dioxide at scale from emissions sources to storage sites. Carbon Capture, Utilisation and Storage (CCUS) technologies are fast growing in the rush to achieve carbon neutrality and build an international carbon capture infrastructure.
CO2 is a complex cargo to handle, having a triple point which is higher than atmospheric pressure, meaning that it can liquefy only at low temperatures and high pressures. Even a small environmental change can see CO2 transform into a gas, liquid or solid state. The new design will feature a reliable Ship and Cargo Containment System (CCS) using its accumulated technologies in the field of liquefied gas carriers, such as LNG and LPG carriers.
DSME will develop a Cargo Handling System (CHS) using the latest technology to prevent CO2 emissions and ensure navigational stability. KR plans to verify compliance with its own Rules and the IGC Code for the cargo containment and handling systems developed by DSME.
Jun-Lyoung Seo, CTO DSME, said: “Responding to climate change will be a new opportunity for the shipbuilding industry. To further enhance our competitiveness in the future green shipbuilding market, we will develop an efficient and safe LCO2 carrier through this collaboration and hope to obtain an Approval in Principle from KR within this year.”
Kyu-jin Yeon, Head of KR Plan Approval Centre, said: “This collaboration with DSME is significant at a time when the demand for safer LCO2 carrier technology is increasing. Through this joint development project, we will continue to support DSME’s CO2-related technology and decarbonization projects.”
According to a report by the International Energy Agency (IEA) in 2020, up to 40 million tons of CO2 is captured annually, and most of which is permanently stored in geological formations or re-injected into oil wells to promote oil recovery. In particular, as CCUS technology is expected to contribute a significant portion of the global total carbon dioxide reduction, the demand for LCO2 carriers to transport CO2 to storage facilities is expected to increase.