Larvik Shipping will provide its expertise on the secure transport of liquefied CO₂. Credit: tudor-radu / Pixabay.

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.

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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.

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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.”

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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.