Hanwha Ocean signs 4-party deal to develop large CO2 transport ship

A rendering of liquefied CO2 transport vessel. [Courtesy of Hanwha Ocean]

South Korean shipbuilder Hanwha Ocean Co. said Thursday that it signed a four-party agreement with EcoLog, American Bureau of Shipping (ABS), and Babcock LGE to collaborate on the development of a large-scale liquefied carbon dioxide transport vessel with a capacity of 40,000 cubic meters.

Under the agreement, each party will share its specialized knowledge and experience related to CO2 transport vessels and conduct research on minimizing greenhouse gas emissions during operation.

The primary objective is to develop detailed designs and specifications for a large-scale liquefied CO2 transport vessel that prioritizes safety and efficiency.

Hanwha Ocean, as the leading party in this collaboration, will oversee comprehensive reviews of propulsion performance and detailed ship design aspects, including cargo holds, of the CO2 transport vessel.

EcoLog, a subsidiary of GasLog, a Greek LNG shipping company, specializes in carbon capture, utilization, and storage (CCUS) and will provide expertise in meeting the global industry’s demands for liquefied CO2 transport vessels and share its knowledge of shipping operations.

ABS, a major global classification society, will review variables related to CO2 purity and examine regulations pertaining to overall design specifications.

Babcock LGE, an expert in cargo handling systems development, will assist in the development of cargo handling system-related designs, including re-liquefaction equipment.

“Through this joint research, we aim to develop a liquefied CO2 transport vessel with optimal performance, securing a competitive edge in this field,” said an official from Hanwha Ocean. “Recognized for our outstanding technological capabilities and high-quality services in the liquefied gas transport vessel market, we intend to maintain our position as a leader in this field as well.”