Japanese shipowner NYK and its joint venture affiliate Knutsen NYK Carbon Carriers (KNCC) will conduct a study on the construction of a 40,000-cbm liquefied CO2 carrier working between two terminals.
The partners said the vessel will be based on KNCC’s LCO2 technology for elevated pressure cargo tanks.
They will be working with Nihon Shipyard Co, a joint venture for ship design and sales between Imabari Shipbuilding and Japan Marine Corp.
“This initiative aims to contribute to the establishment of a CCS [carbon capture and storage] value chain and to the reduction of greenhouse gas emissions,” NYK said.
Under the new study, NYK will be responsible for developing overall policy and evaluating the ability to construct the vessel.
KNCC will provide technical and regulatory expertise on what it dubs its LCO2-EP vessel.
Nihon Shipyard will study the construction of the new type of vessel from a shipyard perspective.
KNCC chief executive Oliver Hagen-Smith explained that the design of the LCO2-EP cargo tanks features vertical cylinders that can be mass-produced through automated processes using standard materials. He said this may optimise and reduce the construction time.
“The modular design potentially allows more shipyards to participate, utilising existing facilities and infrastructure, which broadens industry engagement and enhances efficiency,” Hagen-Smith said.
“We are confident that this study will bring significant benefits in cost-effectiveness, quality and scalability to the maritime construction sector.”
NYK executive officer Tsutomu Yokoyama described the study as “another key milestone” as it will provide the capability through KNCC to offer LCO2-EP marine transport service in addition to medium and low-pressure options.
“We will continue to study the establishment of a system for the construction of LCO2-EP vessels to support the development of CCS projects globally,” Yokoyama said.
Nihon Shipyard chief of design Tomoaki Takahira said: “While CCS is still in its developmental stage in terms of technology and market structure, the joint study of the LCO2-EP terminal-to-terminal vessel with KNCC and NYK is an important step for us to bring one of the viable options to the market.”
In September, TradeWinds reported that KNCC said it is in discussions with yards for medium-pressure vessels to operate in the European range and hopes to be able to agree LCO2 projects within the next six months.
It is also in commercial discussions for long-term charters for ships that would deliver in 2027.
