HD Korea Shipbuilding wins order for world’s largest LCO2 carriers

Hyundai Mipo Dockyard Co.’s liquefied carbon dioxide (LCO2) carrier [Photo provided by HD Hyundai]

HD Korea Shipbuilding & Offshore Engineering Co., the intermediate holding company for HD Hyundai Co., a South Korean conglomerate engaged in shipbuilding, heavy equipment, machine, and petroleum, announced Wednesday that it has won an order for the world’s largest liquefied carbon dioxide (LCO2) carriers.

The contract is for two vessels with a size of 22,000 cubic meters each, worth 179 billion won ($141.3 million) in total. Hyundai Mipo Dockyard Co. will be entrusted with building the vessels that are 160 meters in length, 27 meters in width, and 18 meters in depth at the Ulsan Shipyard. They will be delivered to Greek vessel operator Capital Ship Management Corp. starting from the second half of 2025.

The vessels will be used to transport LCO2. They also offer flexible operation as other cargoes such as liquefied petroleum gas (LPG) and ammonia can be carried as well.

Global CCS Institute, a carbon capture and storage (CCS) research organization, predicts that the CCS market will grow by more than 30 percent annually. Under such an estimate, the amount of carbon captured globally will reach 7.6 billion tons in 2050, which is why the demand for LCO2 carriers is expected to increase in the future.

HD Korea Shipbuilding & Offshore Engineering received a certification for LCO2 carriers with a size of up to 74,000 cubic meters from the American Bureau of Shipping in September last year. It demonstrates international recognition of the company’s ability to build the largest LCO2 carriers.

“Orders for large and ultra-large LCO2 carriers are expected to continue,” said an official from the company. “We will continue to lead the market based on our early accomplishments in technological development.”