Kawasaki Kisen Kaisha and MISC Berhad Secure New CO2 Carrier Contract
Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has announced a significant development in its partnership with Northern Lights JV DA (Northern Lights). The consortium, which includes “K” LINE and Malaysia’s MISC Berhad, has been awarded a time charter contract for a newly constructed 12,000 m³ liquefied CO2 carrier. This contract marks a pivotal step in the ongoing Northern Lights Project, aimed at enhancing CO2 transportation capabilities within Europe.
The new vessel will be built by Dalian Shipbuilding Offshore Co., Ltd., with “K” LINE and MISC jointly owning the asset. Additionally, the consortium is set to receive another contract for a second liquefied CO2 carrier in April 2026. These vessels will play a crucial role in phase two of the Northern Lights Project, which focuses on international CO2 transportation across Europe.
Since 2022, “K” LINE has been actively involved in the Northern Lights initiative, having entered into Bare Boat Charter and Time Charter contracts for three 7,500 m³ liquefied CO2 carriers. These operations are expected to commence in 2024, contributing to the establishment of a carbon capture and storage (CCS) value chain in Europe. The addition of the new vessels underscores “K” LINE’s extensive experience in liquefied gas shipping and its commitment to safe and reliable operations.
Strengthening Partnerships and Expanding Capacity
The partnership between “K” LINE and MISC is set to strengthen further with the operation of five of the eight liquefied CO2 carriers designated for phases one and two of the Northern Lights Project. This collaboration is expected to enhance operational efficiency and flexibility in transporting CO2 for industrial emitters in Europe, who are looking to decarbonize their operations.
Tim Heijn, Managing Director of Northern Lights JV DA, expressed enthusiasm about the expansion of their transport capacity. He emphasized the importance of adding more vessels to the existing fleet, which will optimize operations and provide greater flexibility. Heijn noted that the Northern Lights initiative aims to offer transport and storage services to industrial emitters, positioning the consortium as pioneers in establishing the first dedicated CO2 shipping fleet.
Zahid Osman, President & Group CEO of MISC Berhad, reiterated the company’s commitment to sustainable solutions through strategic partnerships. He highlighted the importance of their collaboration with “K” LINE in supporting the Northern Lights project as it progresses into its next phase. Osman emphasized that their combined maritime expertise will contribute to developing critical infrastructure for the CCS value chain.
Commitment to Decarbonization and Sustainable Practices
Kawasaki Kisen Kaisha is dedicated to promoting initiatives that support both its decarbonization efforts and those of society. This commitment aligns with the company’s long-term environmental guidelines, known as the “K” LINE Environmental Vision 2050. The knowledge gained from operating liquefied CO2 carriers will be instrumental in the future development of sustainable business practices.
Takenori Igarashi, Director, President & CEO of Kawasaki Kisen Kaisha, expressed satisfaction with the company’s involvement in the Northern Lights Project. He highlighted the operational procedures and expertise established during phase one, which will be leveraged in phase two. Igarashi emphasized the importance of collaboration with MISC Berhad, noting their shared experience in the LNG carrier business.
As the Northern Lights Project advances, the partnership between “K” LINE and MISC Berhad is poised to play a vital role in the decarbonization efforts across Europe, contributing to a more sustainable energy landscape.
