MOL expands into liquefied CO2 ocean transport with acquisition of Norway’s Larvik

Mitsui OSK Lines (MOL) has confirmed plans to invest in Norway-based Larvik Shipping, a ship management company for liquefied CO2 carriers.

The acquisition is part of MOL’s intention to enter the liquefied CO2 ocean transport business, which the company claims is positioned for significant growth following the increasing adoption of CO2 capture utilisation and storage (CCUS) technology.

MOL said that both companies will discuss the adoption of larger ships with the goal of expanding both upstream and downstream and in the CCUS value chain.