Capital Maritime orders the world’s largest LCO2 tankers from Hyundai Ship’s crew

HD Korea Shipbuilding & Marine Engineering, a subsidiary of HD Hyundai, has received an order from Greece-based Capital Maritime Group for two of the world’s largest liquid carbon dioxide (LCO2) tankers.

The contract for the construction of two 22,000-cubic-metre LCO2 tankers, awarded by the company run by Evangelos Marinakis, is valued at KRW 179 billion (US$141.5 million). The girders will be 159.9 m long, 27.4 m wide and 17.8 m high.

The two ships will be built at the Hyundai Mipo shipyard in Ulsan and are scheduled for delivery in the second half of 2025.

This vessel was designed for the liquefaction and transport of CO2 as well as various other LPG cargoes such as LPG and Ammonia.

In addition, it will be built as an environmentally friendly, dual-fuel, ammonia-powered vessel that can achieve carbon neutrality in the future.

“We hope to lead the carbon tanker market in cooperation with HD Hyundai, which is the most technologically advanced in the field of next-generation green ships,” said a Capital Maritime Group official.

According to the Global CCS Institute, the carbon capture and storage market will grow by more than 30% each year, and by 2050, global carbon capture will reach 7.6 billion tons. Accordingly, it is expected that the demand for LCO2 carriers will increase.

Lloyd’s Register and the American Bureau of Shipping granted design approvals to the Hyundai Mipo Dockyard last year for the development of 74,000, 40,000, 30,000 and 22,000 cbm. Capital Gas Ship Management Corp. von Marinakis participated in the ship development project in September last year.

Including these two LCO2 tanker orders, HD Korea Shipbuilding & Marine Engineering has received 112 new orders, including 18 LNG vessels, 20 LPG vessels, 29 container vessels, 33 product oil tankers, four PCTCs, two LCO2 tankers, three oil tankers, two medium natural gas tankers and one FPU.

The total order value of these orders is approximately US$14.53 billion, which is approximately 92.3% of the annual order target of US$15.74 billion.

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