Exmar taps South Korean firm to develop new type of CO2 carrier
Belgium-based shipowner Exmar has joined forces with South Korean tech company Lattice Technology to work on the development of a new type of CO2 carrier.
As informed, the two companies will combine their individual expertise, Exmar’s knowledge of the design and operation of efficient gas carriers and Lattice’s knowledge of creating innovative tank designs for CO2 transport.
A study proved that the patented Lattice’s tank design, lattice pressure vessel (LPV), provides the best solution for large-scale CO2 transportation at low and medium pressures, according to the firm. The design and vessel size can be adjusted to meet all required transport volumes to ensure the most optimal logistical solution.
Specifically, the initial concept will include a 195-meter long Panamax beam vessel with a cargo capacity of 40,500 cbm. Such a vessel will be tailored to support CCUS projects with capacities ranging from 2 to 10 MTPA.
Additionally, a 3,000 cbm storage capacity for low CO2 emitting fuels like liquefied petroleum gas (LPG), ammonia or liquefied natural gas (LNG) has been foreseen.
“This project provides an excellent opportunity to demonstrate that the LPV technology will be a key enabler in making shipping greener with lower emissions and by providing important infrastructure for transporting and dealing with CO2,” Keunoh Park, CEO of Lattice Technology, stated.
“We are very pleased and excited about this joint venture with LATTICE as we strongly believe CCUS will be a major contributor in our efforts to decarbonize the atmosphere,” Jens Ismar, Executive Director Shipping at Exmar, concluded.
Back in July this year, Exmar signed an agreement with Canadian fertilizer company Nutrien to develop and build a low-carbon, ammonia-fueled vessel to reduce maritime emissions.