Hyundai shipyard works on vessel capable of transporting liquefied CO2

By Lim Chang-won Posted : March 22, 2021, 15:14 Updated : March 22, 2021, 15:14

[Courtesy of Hyundai Mipo Dockyard]

SEOUL -- South Korea's Hyundai shipbuilding group will develop a vessel that can transport liquefied carbon dioxide from power plants and steel mills to storage facilities. The shipyard saw climate change as a new opportunity for its growth, citing a growing demand for negative emission technology to reduce greenhouse gases by capturing carbon.

Hyundai Mipo Dockyard, a subsidiary of the shipbuilding group, said it would develop a cargo container system optimized for carbon dioxide (CO2) transport, while Korea Shipbuilding & Offshore Engineering (KSOE), the group's holding company, will develop a cargo handling system that can block CO2 emissions into the atmosphere.

The American Bureau of Shipping, an American maritime classification society. and a Marshall Islands agency will see if the vessel meets international agreements on liquefied gas carriers. "We will increase our competitiveness in the eco-friendly ship construction market by developing carbon dioxide carriers," said an unnamed Hyundai Mipo Dockyard official.

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