Ulsan, South Korea – HD Hyundai Mipo Dockyard (HMD), a key shipbuilding arm of the global conglomerate HD Hyundai, recently marked a significant milestone in the burgeoning carbon capture and storage (CCS) value chain with the grand launching ceremony of its groundbreaking 22,000 cubic meter (m³) Liquefied Carbon Dioxide (LCO2) carrier. The event, held at HMD’s headquarters in Ulsan, South Korea, signifies the vessel’s initial contact with water after its meticulous construction on land, heralding a new era in the maritime transportation of captured carbon emissions.

This pioneering vessel, boasting an overall length of 159.9 meters, a beam of 27.4 meters, and a depth of 17.8 meters, represents the first of a quartet of identical LCO2 carriers commissioned by the prominent Greek shipping entity, Capital Maritime Group. The shipbuilding contract, secured between July 2023 and January of the following year, underscores the growing confidence in the future of seaborne carbon transport as a critical component of global decarbonization efforts.

Distinguishing itself as the largest of its kind ever constructed, the 22,000 m³ LCO2 carrier dwarfs the capacity of previously operational vessels, whose maximum size typically capped at around 7,500 m³. This substantial increase in carrying capacity signifies a major leap forward in the efficiency and scalability of LCO2 transportation, paving the way for more economically viable and environmentally impactful CCS projects worldwide.

HMD’s engineering prowess is evident in the vessel’s advanced design, featuring three innovative ‘bilobe-type storage tanks.’ These specialized tanks are engineered to maintain ultra-low temperatures of approximately -55 degrees Celsius (-67 degrees Fahrenheit), a critical requirement for keeping carbon dioxide in its liquefied state for safe and efficient transport. Furthermore, the vessel’s versatile cargo handling system allows for the carriage of a diverse range of other liquefied gases, including Liquefied Petroleum Gas (LPG) and ammonia (NH3), offering operational flexibility and maximizing the vessel’s utility across different energy and industrial sectors.

In line with stringent environmental regulations and a growing emphasis on sustainable shipping practices, the newly launched carrier incorporates cutting-edge technologies aimed at minimizing its environmental footprint. The integration of a shore power supply system enables the vessel to draw electricity from onshore grids while berthed, thereby eliminating emissions from auxiliary engines in port areas. Additionally, the installation of a sophisticated Nitrogen Oxide (NOx) reduction device significantly curtails the emission of harmful air pollutants such as fine particulate matter and sulfur oxides, contributing to cleaner air quality in maritime environments.

Recognizing the increasingly challenging operational environments posed by climate change, HMD has also equipped the vessel with robust ice-resistant design technology, classified as Ice Class 1C. This feature enhances the vessel’s ability to navigate safely and effectively through icy waters, expanding its potential operational areas and ensuring reliable carbon transport even in colder regions. Following the traditional launching ceremony, the vessel will now undergo meticulous final outfitting procedures and comprehensive sea trials to ensure all systems are functioning optimally before its scheduled delivery to Capital Maritime Group by the end of the current year.

The development and launch of this colossal LCO2 carrier come at a pivotal time for the global CCS market. Driven by ambitious carbon reduction targets set by nations worldwide in their pursuit of carbon neutrality, the demand for efficient and large-scale carbon transportation solutions is experiencing exponential growth. According to projections from the esteemed British maritime analysis firm Clarkson Research, achieving global carbon neutrality by 2050 will necessitate the capture and geological storage of over 6 gigatons (GT) of carbon dioxide annually. A significant portion of this captured carbon, estimated at around 20%, is anticipated to be transported via maritime routes, potentially requiring a fleet of approximately 2,500 dedicated LCO2 carriers.

An official spokesperson for HD Hyundai emphasized the company’s commitment to pioneering environmentally friendly technologies and solidifying its leadership in the marine mobility sector. “The development of the world’s largest liquefied carbon dioxide carrier underscores our unwavering dedication to enhancing future competitiveness in the shipbuilding and marine industries through cutting-edge technological innovation,” the spokesperson stated. “We are actively engaged in extensive research and development efforts focused on eco-friendly solutions, and we are confident that our continuous technological advancements will enable us to maintain market leadership and further strengthen our position as a frontrunner in the evolving landscape of ocean mobility.”

The successful launching of this groundbreaking vessel represents not only a technological triumph for HD Hyundai Mipo but also a crucial step forward in the global effort to combat climate change. As the CCS market continues to mature and the demand for efficient carbon transportation solutions intensifies, HMD’s pioneering vessel stands poised to play a pivotal role in facilitating the widespread adoption of carbon capture and storage technologies, ultimately contributing to a more sustainable and environmentally responsible future for the planet. The maritime industry, traditionally a significant contributor to global emissions, is increasingly embracing its role in the decarbonization journey, and HMD’s latest innovation serves as a powerful testament to this evolving paradigm.