Carbon capture and storage (CCS) has emerged as an important pathway to contribute to the global carbon dioxide (CO2) reduction goals and support energy transition efforts. In parallel, this has given the shipping and shipbuilding segments the opportunity to shine.
In the coming years, carbon capture and removal technologies are expected to have a more important role in fighting climate change , as predicted in the Pathway to Net Zero Emissions report issued last year by the classification society DNV.
This will increase the demand for liquid CO2 (LCO2) carriers and create numerous investment opportunities in the shipping sector.
Specifically, large quantities of carbon dioxide will need to be transported from capture to storage sites and this will be only possible either by pipelines — a mature market technology — or vessels, or a combination of both.
Liquefied CO2
It is clear that the demand for specialised vessels with the ability to collect CO2 from capture sites will surge especially having in mind that carbon capture will become a new reality as a way of offsetting emissions from the fossil industry, which is here to stay, at least for the next couple of decades.
Speaking of storing CO2 in a limited space, liquefaction on ships is considered to be the most appropriate solution.
In a liquid state, CO2 can be stored in pressurized and insulated tanks onboard vessels to maintain cryogenic conditions. Type C liquefied gas tanks have been a common industry practice due to high pressures for the storage of liquefied CO2.
New Asian LCO2 carrier designs win approvals
It is clear that LCO2 vessels will be essential in building a carbon capture, utilisation and storage (CCUS) value chain and directly contributing to the ongoing energy transition . Their increasing prominence is even more emphasized by numerous LCO2 projects currently ongoing in the shipbuilding industry.
On 5 September, the classification society Lloyd’s Register awarded design approval to South Korean shipbuilder Hyundai Heavy Industries (HHI) for the development of the world’s first 40,000 cbm liquefied carbon dioxide carrier .
At 239 metres long and 30 metres wide, the LCO2 carrier design will be the largest in its class, LR and HHI claim.
The vessel will be equipped with seven IMO Type C cargo tank that use a new steel design, allowing tanks to be constructed with lighter scantling whilst remaining structural integrity. The material advancement has allowed HHI to design the carrier with a total capacity of 40,000 cbm, making the vessel a ‘first-of-its-kind’.
When built, the carrier will transport liquefied carbon dioxide under pressure, allowing carbon extracted from the atmosphere to be transported to storage facilities.
“This carrier will be a key piece of infrastructure in the carbon capture and storage value chain, helping the maritime industry drive forward its energy efficiency and decarbonisation ambitions ,” Andy McKeran , Chief Commercial Officer, Lloyd’s Register, said.
On the same day, DNV awarded approval in principle (AiP) to Korean shipbuilder Samsung Heavy Industries (SHI) for its new LCO2 carrier design.
The solution incorporates customized large cargo tanks and a cargo handling system with highly efficient reliquefication technology.
SHI’s new system is expected to help the shipping industry be ready for future large-scale CO2 transportation demands as increasing numbers of CCUS projects evolve.
The ship has optimized cargo space and ship performance by utilizing customized bi-lobe cargo tanks. It also features a re-liquefaction system that condenses vaporized and compressed CO2 by a refrigeration process. Once expanded, the CO2 is cooled and returned to the LCO2 tanks.
A day later, on 6 September, DNV granted another LCO2 AiP, this time to Japanese shipbuilder Mitsubishi Shipbuilding and compatriot shipping company MOL.
The duo has jointly developed a 50,000 cbm LCO2 carrier for which they completed a joint concept study last November. The LCO2 carrier underwent a Hazard Identification Study (HAZID) and received AiP.
The vessel design incorporates tank pressure specifications for larger vessels in the future. MOL and Mitsubishi Shipbuilding are also integrating the knowledge of a company in which MOL invested last year, Norway-based Larvik Shipping AS, which has been managed LCO 2 vessels in Europe for more than 30 years.
Investments in carbon capture tech set to rise
The existing regulations set by the International Maritime Organization (IMO) to cut carbon emissions by at least 50 per cent by 2050 are pushing the maritime industry to seek for different ways to decarbonise, from clean fuels to green technologies including carbon capture.
There are many onboard carbon capture projects currently ongoing in the shipping industry and each of them is expected to significantly contribute to global decarbonisation efforts.
In its new publication titled “Insights into Onboard Carbon Capture” , ABS examines various methods of onboard carbon capture as well as carbon handling and storage and downstream considerations, as well as regulatory issues.
As explained, there are many methods for the removal of carbon and can be divided into two categories — pre-combustion carbon capture and post-combustion carbon capture . The first category involves cleaning exhaust gases before release — e.g. scrubbers and the second category includes chemical absorption, membrane separation and cryogenic carbon capture technologies that can be retrofitted on existing ships or fully integrated into new vessels.
According to the classification society, while onboard carbon capture may not yet be mandated by national or international policy, owners and charterers may see market or regulatory bodies drive the adoption of onboard carbon capture solutions and the development of mechanisms to facilitate the trade of captured carbon.
“Although onboard carbon capture systems are still being piloted, investment is expected to increase over the course of the next decade, especially as discussions on global carbon markets advance,” ABS said.