Mitsubishi Shipbuilding and Nihon Shipyard Launch Joint Study for Development of an Ocean-Going LCO₂ Carrier -- Project Utilizing the Strengths and Knowledge of Both Companies to Support the Emerging Era of Large-Scale Marine Transport of CO

Tokyo, May 22, 2023 - Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group and Nihon Shipyard Co., Ltd., a Tokyo-based joint venture for ship design and sales between Imabari Shipbuilding Co., Ltd. and Japan Marine United Corporation have started joint study for the development of an ocean-going liquified CO₂ (LCO₂) carrier. Nihon Shipyard is pursuing this project with the aim of completing construction of the vessel from 2027 onwards.

Demand for LCO₂ carriers is expected to grow in the future as a means to transport large volumes of CO₂ safely for CCS (Carbon dioxide Capture and Storage) projects, in which captured CO₂ is stably stored underground. Following the lead of the EU region, it is expected that CCS projects in Asia will be accelerated by the promotion of national governments, it will be essential to establish a shipbuilding framework in Japan to meet the demand for LCO₂ carriers.

This project will take advantage of the knowledge and advanced gas handling technology that Mitsubishi Shipbuilding has acquired in designing and constructing liquified gas carriers (liquified petroleum gas (LPG) and liquified natural gas (LNG) carriers), as well as the wealth of shipbuilding experience for various type of vessels and advanced technology capabilities that Nihon Shipyard has accumulated over the years, as strengths that can be mutually supplemented.

MHI Group is pursuing strategic measures to strengthen its business for the energy transition. For its role in this initiative, in addition to conventional shipbuilding centered on manufacturing, Mitsubishi Shipbuilding aims to utilize its marine engineering technologies rooted in shipbuilding to contribute to the development of the maritime industry in Japan and around the world. This project is a part of that effort. Through collaboration with multiple Japanese shipping companies and domestic/overseas energy companies, along with the construction of demonstration ship for transport of LCO₂, Mitsubishi Shipbuilding is actively pursuing the development of LCO₂ carriers and commercialization of LCO₂ shipping.

Nihon Shipyard, in anticipation of future regulations restricting CO₂ emissions, is proactively working toward the commercialization of LNG and ammonia fueled ships. As its next initiative, the company is considering the potential for LCO₂ carriers, aiming to further solidify its leading position in the industry.

Going forward, Mitsubishi Shipbuilding and Nihon Shipyard will provide the world with the LCO₂ carriers necessary to establish a CCS value chain, and contribute to the realization of a carbon neutral world.

Image movie of LCO₂ carrier