Approval in Principle (AiP) Acquired for Standard Low-Pressure Liquefied CO2 Carrier toward Realization of CCS Business in Japan

Six Japanese shipping companies, led by Mitsui O.S.K. Lines, Kawasaki Kisen Kaisha, and Nippon Yusen Kabushiki Kaisha, have secured Approval in Principle (AiP) for a standard low-pressure liquefied CO2 carrier vessel from the Japanese classification society, Nippon Kaiji Kyokai (ClassNK). This AiP was presented at Gastech 2026 in Bangkok, Thailand, following a risk assessment completed on the vessel's design and handling operations.

The demand for such carriers is anticipated to rise as Japan embarks on numerous CCS (Carbon Dioxide Capture and Storage) projects, necessitating the transportation of captured CO2 to storage sites. In December 2025, the six companies signed a Memorandum of Understanding to collaborate on a standard design framework for low-pressure LCO2 carriers and alternative-fuel ships, with MILES Co. Ltd. playing a key role.

This marks the first concrete step in realizing their goals of domestic construction and supply of LCO2 carriers, standardization of such vessels, and establishment of a CCS value chain. The risk assessment for a 42,000m3 low-pressure CO2 carrier incorporated the extensive experience of "K" LINE, MOL, and NYK Line in low-pressure gas carrier operations, resulting in a safety-focused design policy.

This framework will streamline the design and construction of future low-pressure LCO2 carriers, bolstering Japan's CCS business development. The MOL Group has allocated environmental strategy as a core pillar of its "BLUE ACTION 2035" management plan, targeting the expansion of low-carbon and decarbonization businesses. The acquisition of two LCO2 carriers for the Northern Lights Project, the world's first full-scale CCS project, demonstrates the MOL Group's commitment to contributing to a decarbonized society by meeting the increasing demand for maritime CO2 transportation.