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Thursday, September 23, 2021 

Liquefied CO2 carrier designs by Hyundai Mipo Dockyard (HMD) and Korea Shipbuilding and Offshore Engineering (KSOE) have been granted Approval in Principle (AiP) by ABS and the Republic of the Marshall Islands (RMI) Maritime Administrator.

The AiP is the culmination of a six-month joint development project (JDP) between ABS, HMD, KSOE and RMI to research and develop next generation liquefied CO2 carrier designs.

HMD developed a cargo containment system optimised for liquefied CO2 based on its existing gas carrier construction experience, while KSOE developed a cargo handling system with new technology to maintain a stable state without CO2 gas being emitted into the atmosphere. ABS and RMI granted AiP, verifying the suitability of IGC Code, Class requirements and flag regulations for liquefied gas carriers.

“Carbon capture, utilisation and storage is a rapidly developing technology with the potential to contribute significantly to global decarbonisation ambitions. Shipping needs to be ready to play its part in the developing carbon supply chain with vessels capable of safe and efficient transport of CO2. ABS is the leading Class for gas carriers and this means we are well placed to support development of these vessels,” said Georgios Plevrakis, ABS Director, Global Sustainability.

“The response to climate change will be a new opportunity for the shipbuilding industry. Through this development of a liquefied CO2 carrier, we will further enhance our competitiveness in the future eco-friendly shipbuilding market that leads carbon neutrality," said Y.J.Nam, HMD EVP.

“This is the first step for realising a CO2 carrier, but I believe that the achievement of this JDP is a big step towards commercialising a CO2 carrier. This is because our new design can provide a safe and cost-effective solution for CO2 shipping, which can be an important part of the CO2 value chain,” said Byeong-Yong Yoo, KSOE VP.

“The Republic of Marshall Islands Maritime Administrator is committed to supporting efforts to achieve global decarbonisation goals. The liquid CO2 carrier is a critical component to carbon capture, utilisation and storage strategies that will directly contribute to the ongoing global energy transition.  We are pleased that the RMI Maritime Administrator’s environmental stewardship is being recognised and how the gas and technical teams played a pivotal role in the completion of this development project,” said Thomas Blenk, RMI Deputy Commissioner of Maritime Affairs.

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