K Line charters third LNG-powered LCO2 carrier from Northern Lights JV

Japan’s shipping giant K Line has entered into a charter contract with Norway’s Northern Lights, a joint venture consisting of Equinor, Shell, and TotalEnergies, for a third LNG-powered liquefied CO2 vessel.

K Line announced the signing of the bare boat charter and time charter contracts for the management of the third CO2 ship in a statement on Tuesday.

This follows the formerly signed contracts for managing the first two 7,500-cbm LCO2 ships, in Northern Lights’ four ship fleet, that will be delivered in 2024.

The company’s London-based subsidiary K Line LNG Shipping (UK) will undertake the management of these three ships.

The vessels will transport liquefied CO2 from Northern Lights customers based in Norway, Denmark, and Netherlands, to Northern Lights’ CO2 receiving terminal in Oygarden, Norway, from where the CO2 will be injected into the offshore reservoir for safe and permanent storage.

Northern Lights recently also signed a charter deal with Bernhard Schulte for a new LNG-powered CO2 carrier.

The 7,500-cbm liquefied CO2 ship will be the fourth in line to the sister ships currently under construction at Dalian Shipbuilding Offshore (DSOC).

K Line said the first two vessels are currently 75 percent completed and will be delivered later this year.

The vessels recently received two type C LCO2 tanks, the first such tanks in the world.

Also, each of the installed tanks has a capacity of 3,750 cbm for a total of 7,500 cbm.

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