Hyundai Heavy Industries Group, the South Korean shipbuilding giant and shipping company Hyundai Glovis Co. have partnered to build a 74,000-cubic-meter LCO2 carrier – world’s largest yet, The Korean Economic Daily reported. 

The ship will have nine tankers and will embed liquefied natural gas engines. 

HHI announced on June 6 that its subsidiaries, Korea Shipbuilding & Offshore Engineering Co. (KSOE) and Hyundai Heavy Industries Co., signed a contract with Hyundai Glovis, ship management firm G-Marine Service Co., American Bureau of Shipping and the Republic of the Marshall Islands to build the LCO2 carrier. 

Hyundai Glovis and G-Marine Service will complete building the carrier in the second half of this year and will provide expertise on The Marshall Islands, which a hub for international shipping and vessels registries, will advise on setting standards for the ship design an HHI representative told The Koreas Economic Daily. The marine assets classification service provider ABS will conduct quality assessments to certify the carrier. 

Norway’s leading ship certifier Det Norske Veritas (DNV) issued HHI Group an approval in principle (AiP) certificate for a CO2 injection platform in August 2021 and one in the following month for a 40,000-cubic-meter LCO2 carrier. ABS awarded the group an AiP for a 20,000-cubic-meter LCO2. 

Hyundai Heavy industries said the global CCUS market is projected to grow more than 30% and demand for LCO2 carriers is expected to increase. The International Energy Agency (IEA) noted that the sector is set to grow to 7.6 billion tons of LCO2 per year by 2050.