HD Hyundai Heavy Industries and Capital Gas Ship Management secure LR approval in principle for 40,000 cbm LCO2 carrier

HD HHI and Capital Gas Ship Management have received approval in principle for a 40,000 cbm LCO₂ carrier from Lloyd’s Register, developed following a joint development project between the parties.

The vessel has been designed to support the growing CO₂ value chain with the growing importance of solutions such as carbon capture and storage (CCS) to the energy transition and to meet the ambition of the Paris Agreement to reach net zero emissions by 2050.

The JDP focused on exploring and establishing the operational profile of LCO₂ carriers along with the design suitability and feasibility of the vessels. LR’s role during the project was to assess the vessel’s operational profile using its Risk Based Certification (RBC-1) process.

The project builds on the strong working relationship between the JDP partners, for the construction of four 22,000 cbm low-pressure LCO₂ carriers equipped with IMO Type C storage tanks and a state-of-the-art cargo handling system able to accommodate CO₂ (Carbon), NH₃ (ammonia), and LPG (liquefied petroleum gas).

Panos Mitrou, Global Gas Segment Director of Lloyd’s Register said: “Carbon negative space represents a sector with great potential and prospects, especially for key industrial sectors which are hard to abate. In this context, transporting carbon at scale may prove to be an essential link towards the Paris Agreement objectives.

“LR is proud to have acted as a trusted adviser on this 40K cbm LCO₂ carrier project, which reaffirms Hyundai Heavy Industries and Capital’s commitment to providing maritime infrastructure that addresses the current challenges of the carbon value chain and reduces greenhouse gas emissions.”

Mr. Seung-Ho Jeon, Senior Executive Vice President and Chief Technical Officer of HD Hyundai Heavy Industries, said: “With strengthening global environmental regulations, we are witnessing growing demand for eco-friendly vessels that maximize fuel efficiency. In particular, we are seeing more opportunities in the carbon dioxide carrier market as more carbon dioxide is expected to be transported with active carbon dioxide emissions trading and increased carbon capture facilities. HD Hyundai Heavy Industries has successfully verified the operation performance of large low-pressure liquefied carbon dioxide carriers through this joint development project and believes it will be an opportunity to go one step further to achieve carbon neutrality.”

Ms. Alexandra Xystra, Technical Director of Capital Gas Ship Management, shared her thoughts on the company’s innovative strategies in the shipping industry: “As the first to manage orders for these types of vessels, placed by independent owners, we are committed to continuing this innovative trajectory. We are actively exploring the potential for these technologies to support larger vessels in collaboration with our partners. We expect the demand for such vessels to increase in the near future.”