Northern Lights JV has awarded a time charter contract for a newly built 12,000 cubic meter liquefied CO2 carrier to support the expansion of Europe's carbon capture and storage (CCS) infrastructure. The award follows Northern Lights' January 2026 announcement of four additional CO2 carriers to support planned capacity expansion. This latest contract marks the second vessel awarded to the consortium comprising Kawasaki Kisen Kaisha ('K LINE') and Malaysia's MISC Berhad.
The vessel will be constructed by Dalian Shipbuilding Offshore and will complement Northern Lights' existing fleet, enabling service to a broader range of commercial customers across Europe. The newbuild carrier will transport captured and liquefied CO2 from industrial hubs across Europe to offshore storage facilities in Norway as part of the Northern Lights carbon capture and storage network.
MISC said the new vessel is expected to feature dual-fuel LNG propulsion, which will not only reduce emissions but also provide a more sustainable option for the shipping industry. The company's joint venture with K LINE will co-own the vessel, further solidifying their partnership in the emerging LCO2 shipping segment.
The award reinforces 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 MISC's position in an emerging market by developing the capabilities, expertise, and strategic partnerships needed to support the evolving carbon management value chain.
Northern Lights JV is owned by Equinor, TotalEnergies, and Shell, and is developing infrastructure to transport and store industrial emissions from across Europe. The company aims to reduce greenhouse gas emissions from industry by transporting and storing CO2 in a safe and secure manner.
The vessel will play a crucial role in supporting the planned expansion of Northern Lights' CCS infrastructure, enabling the transportation of captured CO2 from various industrial sources to offshore storage facilities in Norway. This will help reduce emissions and contribute to a lower-carbon future.
MISC's Delivering Progress strategy focuses on strengthening the foundation for building expertise and capabilities in transition-enabling maritime solutions. The company remains committed to supporting the growth of CCS and advancing the broader energy transition through its investments in LCO2 shipping.
The award highlights the importance of partnerships and collaborations in driving innovation and growth in the LCO2 shipping segment. As companies continue to invest in carbon management solutions, the role of these partnerships will become increasingly crucial.
As the world transitions towards a lower-carbon future, the development of sustainable maritime solutions like LCO2 shipping will play a vital role in reducing emissions and mitigating climate change.
The LCO2 shipping segment is gaining traction as companies invest in carbon management solutions.
