Mitsui OSK, MISC, Petronas Form JV to Operate Asia-Pacific Liquefied CO₂ Carriers

Japan’s Mitsui OSK Lines, Malaysia’s MISC, and Petronas have created a joint venture, Jules Nautica, to own and operate 62,000-m³ liquefied carbon-dioxide carriers that will serve future CCS projects across Asia-Pacific.

(Reuters) — Japan's second largest shipping company Mitsui O.S.K. Lines (MOL) 9104.T has formed a joint venture with Malaysia's Misc Bhd MISC.KL and Petroliam Nasional Bhd (Petronas) to operate Liquefied Carbon Dioxide (LCO₂) carriers, it said on June 17.

MOL said the joint company, Jules Nautica Sdn. Bhd, will develop and own LCO₂ carriers, which play a vital role in transporting LCO₂ to designated storage locations, supporting the advancement of carbon capture and storage (CCS) solutions.

The three companies recently completed the Front-End Engineering Design (FEED) for a 62,000 cubic meter LCO₂ carrier, MOL said.

"Focused on supporting future CCS projects across the Asia Pacific region, the JV will also play a key role in completing the CCS value chain," it said in a statement.