Capital Takes Delivery of First Large LCO2 Multi-Gas Carrier
Capital takes delivery of first large LCO2 multi-gas carrier
Capital Clean Energy Carriers has taken delivery of the world’s first large-capacity LCO2 multi-gas carrier, marking a key step in the development of maritime transport for captured carbon dioxide.
The vessel, Active, has a cargo capacity of 22,000 cubic meters. At the same time, it can carry low-pressure liquid CO2 as well as LPG, ammonia and selected petrochemical cargoes. Capital designed the ship to operate across multiple charter markets.
Flexible design targets emerging demand
Capital Clean Energy Carriers launched the project to support future carbon capture, utilization and storage supply chains. Initially, the company placed an order for two vessels at Hyundai Mipo Dockyard in July 2023. Later, it expanded the orderbook to four ships.
The vessels measure about 525 feet in length. In addition, they use a semi-refrigerated gas carrier design and a cargo system that allows operators to switch between CO2 and conventional gas trades.
Vessel enters service on LPG charter
Hyundai Mipo Dockyard delivered Active on January 6. Following delivery, the 27,926 dwt vessel will begin operations under a six-month LPG charter with an energy trading company. Notably, the agreement includes an option to extend the charter for an additional six months. The vessel is registered in the Marshall Islands.
Different approach to CO2 transport
Unlike early CO2 carriers built for specific projects, Capital designed this ship class for broader commercial use. As a result, the vessels can move between cargoes and projects as market conditions change.
The ships also exceed the size of earlier CO2 shuttle vessels. By comparison, those include the 10,170 dwt Northern Pioneer and its sister ships serving Norway’s Northern Lights carbon storage project.
Carbon capture outlook supports new segment
Capital points to growing investment in carbon capture as a key driver for LCO2 shipping. Currently, global carbon capture capacity stands at about 50 million tonnes per year. Looking ahead, International Energy Agency projections show capacity rising to roughly 430 million tonnes per year by 2030. Meanwhile, storage capacity could reach about 670 million tonnes per year.
Capital Clean Energy Carriers continues to expand its fleet alongside this strategy. At present, the company operates 12 LNG carriers. In addition, its orderbook includes nine LNG carriers, six dual-fuel medium gas carriers, and three handy LCO2 multi-gas carriers. Deliveries are scheduled between the second quarter of 2026 and the first quarter of 2029.
