Korean Register(KR) and Daewoo Shipbuilding & Marine Engineering(DSME) will be developing a new 40,000 m3 LCO2 carrier featuring a next generation cargo handling system. The two Korean firms signed an MOU at Gastech 2022 in Milan, Italy today(7 September) to help meet the growing demand for vessels capable of transporting carbon dioxide at scale from emissions sources to storage sites.
Carbon Capture, Utilization and Storage(CCUS) technologies are fast growing as the world seeks to achieve carbon neutrality and build an international carbon capture infrastructure.
However, carbon dioxide is a complex cargo to handle, having a triple point which is higher than atmospheric pressure, meaning that it can liquefy only at low temperatures and high pressures. Even a small environmental change can see CO2 transform into a gas, liquid or solid state. The new design will feature a reliable Ship and Cargo Containment System(CCS) using its accumulated technologies in the field of liquefied gas carriers, such as LNG and LPG carriers.
DSME will also develop a Cargo Handling System(CHS) using the latest technology to prevent CO2 emissions and ensure navigational stability.
According to a report by the International Energy Agency(IEA) in 2020, up to 40 million tons of CO2 is captured annually, and most of which is permanently stored in geological formations or re-injected into oil wells to promote oil recovery. In particular, as CCUS technology is expected to contribute a significant portion of the global total carbon dioxide reduction, the demand for LCO2 carriers to transport CO2 to storage facilities is expected to increase.