Japan’s Mitsui OSK Lines (MOL) and Petroliam Nasional Berhad (Petronas) have signed a memorandum of understanding (MoU) to conduct a joint study on liquefied CO₂ transportation for the carbon capture, utilisation and storage (CCUS) value chain.

The companies will examine the transportation of liquefied carbon for CCUS businesses operating within Asia Pacific and Oceania.

As agreed, MOL will study the specifications of liquefied CO₂ tankers, considering the complete CCUS value chain.

This will help in the development of an ‘optimal’ means for transporting captured carbon by sea.

Furthermore, Larvik Shipping, partly owned by MOL, will be involved in the project, providing its expertise on the secure transport of liquefied CO₂.

In a statement, MOL said: “MOL will further accelerate its initiative on ocean transport of liquefied CO₂ to contribute to the creation of a low-carbon and decarbonisation society. It aims to achieve group-wide net-zero greenhouse gas (GHG) emissions by 2050, as stated in MOL Group Environmental Vision 2.1.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a separate development, MOL delivered a wood chip carrier, Stellar Symphony, at Imabari Shipbuilding.

This vessel will be operated by MOL for carrying wood chips for Marusumi Paper.

With a cargo capacity of 3.6 million cubic feet, the ship features a SOx scrubber and ballast water management solution, as well as a microplastic recovery system.

Last month, MOL reached a time charter agreement with Mitsui & Co for a liquefied natural gas (LNG) carrier.