HD Hyundai Mipo has started its first construction program for the emerging market of gas carriers for transporting captured CO2. The vessel is not only the first LCO2 tanker to be built in South Korea, but is also significantly larger than the vessels currently being built in China. Hyundai believes this is an emerging market that can leverage its expertise in gas carriers.

Steel cutting began at the Group’s Ulsan shipyard for the first of four LCO2 vessels ordered by Greece’s Capital Maritime Group. The first two vessels were ordered in July 2023, but Capital extended the order before construction began because it expected strong demand for carbon transport as part of the planned capture and storage options.

Hyundai points to unique challenges for this segment, which the company has been able to overcome by advancing pressure control technology for LPG. The Mipo shipyard completed the development of the new pressure regulators in cooperation with its partner shipyards in the HD Hyundai Group in April.

“We are continuing to accelerate the development of new ship technologies and the expansion of production facilities to prepare for increasingly stringent decarbonization regulations,” said a representative of HD Hyundai Mipo during the first steel-cutting ceremony.

The ships will have three “bi-lobe carbon dioxide storage tanks” with a total capacity of 22,000 cubic meters. For comparison, the ships being built in China for Norway’s Northern Lights project each have a capacity of 7,500 cubic meters. Hyundai stresses that the tanks can stably maintain a low temperature and high pressure range of -55 degrees Celsius, five times normal atmospheric pressure. The control system is crucial because if the pressure in the cargo hold drops, the liquid carbon dioxide can turn into dry ice, which would damage the pipelines and other systems.

The pressure control system also allows the ships to choose their cargo flexibly. In addition to LCO2, liquefied petroleum gas (LPG) or ammonia can also be transported.

Each of the vessels will be approximately 525 feet (159.9 meters) long. The hull is also ice-resistant (Ice Class 1C), allowing the vessel to safely navigate cold, icy waters. HD Hyundai Mipo reports that the vessels will also have 2,500 kW shore power systems and SCR nitrogen oxide reduction devices on their exhaust pipes. The design is also ammonia-capable, meaning that the vessel could run on ammonia with future modifications.

Capital Gas reported in June that it had signed a letter of intent to install groundbreaking on-board electronics. Carbon capture system also on these ships. The system is being developed by a Greek company, EMRA First. Both Lloyd’s Register and DNV have reviewed the design concepts for the CO2 capture system.

Delivery of the first vessel to Capital Gas is scheduled for November 2025. The other three vessels will be built sequentially and deliveries are expected to continue until the second half of 2026.