MISC Berhad, in partnership with Kawasaki Kisen Kaisha Ltd, (K Line), has secured a long-term Time Charter Party from Northern Lights JV DA on 29 January 2026 to provide a dedicated Liquefied Carbon Dioxide LCO₂ carrier for the next phase of Europe’s first open access carbon capture and storage transport and storage project. A second Time Charter Party for a second newbuild LCO₂ carrier is expected to be awarded in April 2026.

The award announced on 29 January 2026 marks MISC’s inaugural entry into the LCO₂ shipping segment, representing a strategic early move to build specialised carriers that support large-scale CCS deployment. The vessel will be owned via a joint venture company between MISC and Kawasaki Kisen Kaisha Ltd. (K LINE), reflecting a partnership-based approach to asset ownership in this emerging sector.

The purpose-built vessel is a 12,000 cubic metre LCO₂ carrier, designed to support the safe, reliable and efficient cross-border transportation of liquefied CO₂ from industrial capture sites to permanent offshore storage in Norway. The vessel will complement Northern Lights’ existing fleet and support the project’s planned capacity expansion to serve additional commercial customers across Europe.

Commenting on the award, Zahid Osman, President and Group CEO of MISC, said “This award reflects MISC’s deliberate and early entry into a specialised segment that will be increasingly important as the energy transition advances. Carbon capture and storage require solutions that are practical, scalable and reliable, and maritime transport plays a critical role in enabling this value chain.

The Maritime sector enables captured CO₂ to be transported across regions and borders, providing access to storage sites that would otherwise be constrained by fixed infrastructure. Through this project, MISC is strengthening its role as a maritime solutions partner supporting the growth of the CCS ecosystem,” Zahid said.

The LCO₂ carrier is expected to feature dual-fuel LNG propulsion, reinforcing MISC’s focus on safety, operational reliability and environmental performance, while aligning with evolving regulatory and decarbonisation standards. The 12,000 cubic metre class vessel is expected to represent a first-of-its-kind development within the segment.

MISC’s participation in Northern Lights reflects its broader strategy to expand its portfolio of low-carbon and transition-enabling maritime solutions, building technical and organisational capabilities in CO₂ logistics and strengthening its position as a trusted partner in integrated CCS projects.

Through early capability building and partnerships with established industry players, MISC continues to support the maturation of the CCS market while responsibly #deliveringProgress.
Source: MISC Berhad