“K” LINE enters into charter contracts with Northern Lights for third liquefied CO2 vessels
Yesterday, Northern Lights JV DA and Kawasaki Kisen Kaisha, Ltd. (“K” LINE) signed Bare Boat Charter and Time Charter contracts for the management of the third CO2 ship. This follows the formerly signed contracts for managing the first two 7,500 m3 liquefied CO2 ships*1, in Northern Lights’ four ship fleet, that will be delivered in 2024.
The London-based subsidiary “K” LINE LNG Shipping (UK) Ltd., will manage the three ships, facilitating the transportation of liquefied CO2 from Northern Lights customers based in Norway, Denmark, and Netherlands, to Northern Lights’ CO2 receiving terminal in Øygarden, Norway, from where the CO2 will be injected into the offshore reservoir for safe and permanent storage.
“We are pleased to expand our partnership with “K” LINE, a ship operator with extensive experience in liquefied gas transport and a strong safety and environmental track record. These ships will be shuttling between our customers in Northwest Europe and the Northern Lights’ onshore facilities, each transporting over 400,000 tonnes CO2 annually”, said Børre Jacobsen, Managing Director of Northern Lights.
From left:
Northern Lights JV DA：Børre Jacobsen (Managing Director)
“K” LINE：Satoshi Kanamori (Managing Executive Officer)
In December 2022, “K” LINE was awarded the ship management contracts of the two first Northern Lights ships, which are currently 75% completed and will be delivered later this year.
“K” LINE LNG Shipping (UK) Ltd. is working on an operation manual and commissioning protocol and cooperating with relevant parties such as terminal operators and port authorities.
In parallel, a crew training program is being implemented to ensure safe and reliable operation.
“We are delighted to successively undertake ship management for the third Northern Lights vessel. We have already set up a dedicated team for CO2 ship management in “K” LINE LNG Shipping (UK) Ltd. in London for the first and second vessels and believe that the preparation for prior vessels will be further accumulated with the additional vessel in the fleet. Having the experience of building up the team and operational procedure, we are determined to contribute to the world’s first CCS project by Northern Lights.”, said Yukikazu Myochin, President and CEO of “K” LINE.
Northern Lights is developing a ship-based CO2 transport solution that enables flexible access to industrial emitters and carbon capture points across Europe. In December 2023, Northern Lights placed the order of a fourth CO2 ship, sister to the ones currently under construction at Dalian Shipbuilding Offshore Co., Ltd (DSOC). With these four ships, Northern Lights will have the world’s largest dedicated CO2 shipping fleet.
【Northern Lights Liquefied CO2 vessel】 (Provided by Northern Lights JV DA.)
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“Our investment in these custom-built ships reflects our commitment to deliver safe, reliable, and sustainable CO2 transport services. The recent contracts to build and operate the third and fourth ships signify an increase in Northern Lights’ shipping capacity and reinforce our pioneering role in CO2 transport”, said Børre Jacobsen.
Source: Kawasaki Kisen Kaisha
