The Japanese shipping major, Mitsui O.S.K. Lines, Ltd. (MOL) announced its decision to focus on liquefied CO2 ocean transport, by investing in Larvik Shipping.
Namely, Larvik Shipping is one of very few companies in the world qualified to operate liquified CO2 vessels for food grade CO2.
As explained, food frade CO2 is used mainly by hospitals, breweries, and the food industry. However, Larvik Shipping has operated industrial liquefied CO2 vessels in Europe for over 30 years and has a strong track record in safe transport of liquefied CO2 and extensive cargo-handling know-how.
Operation of liquified CO2 vessels for food grade CO2 will be a continued focus for Larvik Shipping going forward.
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Liquefied CO2 ocean transport also plays a key role in CCUS value chains as a means of effectively connecting collection sites with and storage or usage sites.
CCUS is drawing attention as a technology to collect and store CO2 or use it effectively, and a step toward realizing a low-carbon society. There are several CCUS projects around the world, including the Norwegian project Northern Lights.
Therefore, MOL’s investment in Larvik Shipping will contribute to further expansion of the Larvik Shipping business by combining MOL’s accumulated expertise and technological capabilities in safe operation with Larvik Shipping’s knowledge and solid experience.
…MOL stated.
Concluding, both companies will discuss the adoption of larger vessels with an eye toward expanding both upstream and downstream and in the CCUS value chain.
