Capital Gas Ship Management lands AiP for 40,000-m³ LCO2 carrier

Class society Lloyd’s Register has awarded a 40,000-m³ LCO2 carrier the AiP. The vessel design was developed following a joint development project between Capital Gas Ship Management Corp and HD Hyundai Heavy Industries (HHI). The vessel has been designed to support the growing CO2 value chain with solutions such as carbon capture and storage, which are becoming more important to the energy transition. 

Capital Gas said the joint development project focuses on exploring and establishing the operational profile of LCO2 carriers along with the design suitability and feasibility of the vessels.

Lloyd Register’s role during the project was to assess the vessel’s operational profile using its Risk Based Certification (RBC-1) process.

The project builds on a deal between the two companies to build four LCO2 carriers. Last year, Capital Gas tapped HHI to order its first pair of 22,000-m³ LCO2 carriers, with cargo handling systems capable of accommodating CO2, ammonia, and LPG, at Hyundai Mipo Dockyard which will be delivered in 2025-2026. Two more ships were ordered in February. 

HHI senior executive vice president and chief technical officer Seung-Ho Jeon said, “With strengthening global environmental regulations, we are witnessing growing demand for eco-friendly vessels that maximise fuel efficiency. In particular, we are seeing more opportunities in the carbon dioxide carrier market as more carbon dioxide is expected to be transported with active carbon dioxide emissions trading and increased carbon capture facilities. HD Hyundai Heavy Industries has successfully verified the operation performance of large low-pressure liquefied carbon dioxide carriers through this joint development project and believes it will be an opportunity to go one step further to achieve carbon neutrality.”

Technical director of Capital Gas Ship Management, Alexandra Xystra shared her thoughts on the company’s strategy stating, “As the first to manage orders for these types of vessels, placed by independent owners, we are committed to continuing this innovative trajectory. We are actively exploring the potential for these technologies to support larger vessels in collaboration with our partners. We expect the demand for such vessels to increase in the near future.” 

The AiP was awarded during Posidonia 2024 in Athens, Greece. Capital Gas, ERMA First and Babcock also agreed to install a carbon capture and storage system on the four LCO2 carriers.