HD Hyundai Wins Order To Construct World’s Largest LCO2 Carrier

An intermediate holding of HD Hyundai, HD Korea Shipbuilding & Offshore Engineering, mentioned on Wednesday that it successfully secured an order for developing the world’s most excellent liquefied CO2 (LCO2) carrier.

Per HD Hyundai, the shipbuilder signed a deal worth 179 billion won recently with the Greek vessel operator dubbed Capital Maritime Group to construct two LCO2 carriers belonging to the 22,000-cubic-meter-class. The carriers measure about 27.4 meters in width, 159.9 meters in length, and 17.8 meters in height.

HD Hyundai mentioned that the LCO2 carriers will be constructed at the Hyundai Mipo Dockyard based in Ulsan. The vessel delivery will occur in phases in the second half of 2025. The carriers will be able to secure usage as it is designed to transport different liquefied gases besides LCO2, such as ammonia and liquefied petroleum gas.

The Korea-based shipbuilder’s Ammonia Duel-Fuel-Ready tech will be used on the LCO2 carriers so that those can be evolved successfully into vessels equipped with ammonia shortly with the firm’s efforts for achieving carbon neutrality.

There are hopes to lead the whole carbon dioxide carrier sector with HD Hyundai well-prepared regarding advanced tech being used in the eco-friendly shipbuilding sector, mentioned an official at the Capital Maritime Group.

Per the Global CCS Institute, the worldwide carbon capture and storage sector will experience a compound annual growth rate of about 30% as nations worldwide are speeding up carbon-neutral policies. The Global CCS Institute estimates carbon capture will hit 7.6 billion metric tons in 2050. With the expansion of the carbon capture and storage sector, HD Hyundai forecasts that the demand for LCO2 carriers will grow.

In the future, large orders for large, mega-sized LCO2 carriers will be mentioned by an official associated with HD KSOE. He added that they will lead the market based on advancements in tech developments that have preemptively been accumulated.

Reference: Gas World, Korea Herald, Pulse News

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