Mitsui OSK Lines (MOL) has been selected by Northern Lights to own two newly built liquefied CO2 carriers to support the expansion of its cross-border transport and storage project.
MOL concluded shipbuilding contracts with HD Hyundai Heavy Industries and long-term charter agreements with Northern Lights on January 29.
The ice-classed vessels, which feature 12,000 cubic metre capacities and LNG dual-fuel engines, are expected to transport CO2 from the Stockholm Exergi capture plant in Sweden to a receiving terminal in Norway starting around 2028, according to the company.
The ships will move collected material to the Øygarden terminal on the west coast of Norway. Northern Lights stated that from this location, the material is exported through a 100-kilometre subsea pipeline and permanently stored approximately 2,600 metres beneath the seabed of the North Sea.
Northern Lights reported that it began full-scale operations in 2025 with an annual transport and storage capacity of 1.5 million tonnes. The company plans to expand this capacity to a minimum of five million tonnes annually by 2028.
MOL stated that the volume of CO2 captured and transported by ship is expected to increase significantly within industrial sectors.
It added that it is strengthening its presence in the specialised shipping market, having previously invested in the Norwegian ship management firm Larvik Shipping in 2021.
