Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, and Nippon Yusen Kabushiki Kaisha (NYK Line) have been granted Approval in Principle (AiP)(Note) from the Japanese classification society ClassNK for joint development of CO2 transport technology for liquefied CO2 (LCO2) carriers.

LCO2 carriers transport liquefied CO2 at low temperature and high pressure, which is contained in the cargo tank system. Since the design of cargo containment system depend strongly on the condition of liquefied CO2 such as their temperature and pressure, it is an important technical development issue to increase the size of cargo tank systems and hulls for future mass transportation.

In the joint development of LCO2 carriers by Mitsubishi Shipbuilding and NYK Line, which is so performed as to resolve such technical issues, the feasibility and compliance with regulations and standards were confirmed for each cargo tank system and hull section, taking into account different tank pressure settings for medium and large vessels, leading to the grant of the AiP.

MHI Group is strategically working to strengthen the energy transition business, and Mitsubishi Shipbuilding is promoting the development and commercialization of LCO2 carriers. MHI believes that the grant of the AiP for a large LCO2 carrier will make a significant contribution to the realization of this strategy.

NYK Line believes that the establishment of CO2 transport technology by large vessels will greatly contribute to the realization of a carbon-neutral society. NYK is working together with the MHI Group, which possesses a wide range of technologies in the CCUS value chain, to achieve the early realization of not only small and medium-sized vessels but also large LCO2 carriers. Based on the design of the LCO2 carrier granted the AiP, NYK Line will further promote its participation in the CCUS value chain, such as by studying the design of the LCO2 carrier for each project, including further enlargement of the size of vessels.

Mitsubishi Shipbuilding and NYK Line will utilize the strengths and knowledge of each company, which complement each other, to advance the joint development currently underway, and through the AiP, will continue to make efforts to develop various technologies, including LCO2 carriers, necessary for building the CCUS value chain, and contribute to the realization of a carbon-neutral society.

Mitsubishi Shipbuilding has established the MARINE FUTURE STREAM vision for 2050 in the ship and marine sector, setting the goals of "decarbonization of the maritime economy" through autonomous operation and electrification, and "safe and secure future for society" through renewable energy and the carbon cycle, and working to generate and implement ideas for marine-related innovation. Going forward, as a marine systems integrator, Mitsubishi Shipbuilding will continue to actively develop and commercialize LCO2 carriers, build a CCUS value chain spanning land and sea, and strive to realize a decarbonized world.

*Approval in Principle (AiP) indicates that a certification body has reviewed the basic design and confirmed that it meets the technical requirements and standards for safety. The inspection of this system was conducted based on the IGC Code that applies to marine vessels that transport liquefied gas in bulk and NK's ship classification regulations.