HD KSOE docks $141 million deal to build CO2 carriers

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has clinched a 179 billion-won ($141 million) deal to build the world’s largest liquefied carbon dioxide (CO2) carriers for a Greek shipping company.

A computer-generated image of HD Korea Shipbuilding & Offshore Engineering's liquefied carbon dioxide carrier [HD KSOE]

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has clinched a 179 billion-won ($141 million) deal to build the world’s largest liquefied carbon dioxide (CO2) carriers for a Greek shipping company.

HD KSOE and Greece’s Capital Maritime Group signed a deal to build two 22,000-cubic-meter liquefied CO2 carriers, according to a regulatory filing on Wednesday.

The liquefied CO2 carriers will measure 159.9 meters (175 yards) in length, 27.4 meters in width and 17.8 meters in height.

It is the largest and first of its kind to be deployed for practical operation, said HD KSOE. A previous CO2 carrier from a Japanese shipbuilder had been created for a test operation, while a similar Chinese model came in at a smaller size.

HD KSOE’s liquefied CO2 carrier is designed to transport CO2 for carbon capture, usage and storage aimed at reducing carbon emissions. It can be used for carrying other liquefied gases such as liquefied petroleum gas and ammonia. The carrier can also be retrofitted to burn ammonia with traditional petroleum fuels as well, explained the shipbuilder.

The liquefied CO2 carriers will be built at Hyundai Mipo Dockyard in Ulsan, and will be delivered to Capital Maritime Group in the latter half of 2025.

“We expect more orders for large- and ultra-large-sized CO2 carriers in the future,” said an official from HD KSOE, adding that “we hope to lead the market based on our technological capabilities that we have proactively secured so far.”

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]