Northern Lights strengthens its fleet with new LCO2 vessel award to K Line and MISC

June 3, 2026, by Melisa Cavcic

Northern Lights, a joint venture (JV) encompassing three European oil majors: Shell, Equinor, and TotalEnergies, has decided to enlarge its fleet with another liquefied carbon dioxide (LCO2) carrier through a time charter deal with a consortium between Japan’s Kawasaki Kisen Kaisha (K Line) and Malaysia’s MISC.

Northern Lights JV has awarded the consortium of K Line and MISC a long-term time charter party (TCP) contract for one newly built 12,000 cubic meter (cbm) liquefied CO2 carrier, which represents the second vessel award to the consortium, following the announcement of fleet expansion in January 2026, where time charter agreements were disclosed for four more CO2 ships.

The vessel will be constructed by Dalian Shipbuilding Offshore Co. (DSOC), supporting the expansion of Europe’s first open-access carbon capture and storage (CCS) transport and storage infrastructure. Co-owned through the existing MISC and K Line joint venture structure, the purpose-built 12,000 cubic metre vessel will support Northern Lights’ growing CCS network through the transportation of captured and liquefied CO2 from industrial hubs across Europe to permanent offshore storage facilities in Norway.

Zahid Osman, President and Group CEO of MISC, commented: “Securing this second vessel award reinforces our confidence in the long-term potential of the LCO2 shipping segment and marks another step forward in expanding MISC’s portfolio of future-focused maritime solutions. This project will strengthen our position in an emerging market by developing the capabilities, expertise and strategic partnerships needed to support the evolving carbon management value chain.

“It also advances MISC’s Delivering Progress strategy, particularly our Profitable New Energy pillar, where we are strengthening the foundation for us to build the expertise and capabilities to deliver transition-enabling maritime solutions while supporting our customers’ ambitions for a lowercarbon future. Together with our partners, we remain committed to strengthening the infrastructure and capabilities required to support the growth of CCS and advance the broader energy transition.”

According to the Malaysian giant, the two vessels will complement Northern Lights’ existing fleet and directly enable the project’s planned capacity expansion, allowing it to serve a broader base of commercial customers across Europe, with both carriers expected to feature dual‑fuel LNG propulsion.

Northern Lights JV has celebrated the delivery of three vessels since 2024, including Northern Pioneer, Northern Pathfinder, and Northern Phoenix, which are new-built 7,500-cubic meter capacity sister ships that are part of the phase 1 development in the Norwegian government’s Longship project. The fourth LCO2 carrier was christened in May 2026.

The project, which offers CO2 transport and storage as a service, started first injection of liquid CO2 for permanent storage in August 2025. The liquefied CO2 from capture sites is shipped to an onshore receiving terminal in western Norway, before being transported by pipeline for permanent storage in a reservoir 2,600 meters under the seabed.

View on Offshore-energy.

Northern Lights will transport and store CO2 from two Norwegian industries: Heidelberg Materials’ cement factory in Brevik and the Hafslund Celsio’ waste-to-energy plant in Oslo. Commercial agreements have already been inked with Yara in the Netherlands, Ørsted in Denmark, and Stockholm Exergi in Sweden.