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Japanese shipping firm Mitsui O.S.K. Lines (MOL), along with Malaysia‘s MISC Berhad and Petronas CCS Ventures, have formed a new joint venture, Jules Nautica Sdn, to develop and own a fleet of liquefied CO2 carriers.
The initiative targets the transportation of LCO2 to designated storage sites for carbon capture and storage (CCS) projects, MOL said in a statement on its website on Tuesday.
The partners recently completed front-end engineering design for a 62,000 m3 LCO2 carrier with SDARI.
The design received General Approval for Ship Application (GASA) from DNV in December 2024, making it one of the most advanced in the low-pressure, low-temperature category.
“This joint venture will play a crucial role in the transportation of LCO2, which is indispensable for cross-border CCS projects, Takeshi Hashimoto, CEO of MOL, said.
“Furthermore, this collaboration will lead decarbonization efforts across the Asia-Pacific region beyond Malaysia and Japan and will contribute to the realization of a carbon-neutral society.”