PETALING JAYA: MISC Group, in partnership with Kawasaki Kisen Kaisha Ltd (K LINE), has secured a second long-term Time Charter Party (TCP) from Northern Lights JV DA on May 29 for an additional newbuild Liquefied Carbon Dioxide (LCO₂) carrier supporting the expansion of Europe’s first open-access carbon capture and storage (CCS) transport and storage infrastructure.
The latest award follows the first TCP secured on Jan 29 and further reinforces MISC’s strategic participation in the emerging LCO₂ shipping segment as demand for scalable carbon transportation infrastructure continues to grow across Europe.
Co-owned through the existing MISC and K LINE joint venture structure, the purpose-built 12,000 cubic metre vessel will support Northern Lights’ growing CCS network through the safe and efficient transportation of captured and liquefied CO₂ from industrial hubs across Europe to permanent offshore storage facilities in Norway.
President and group CEO Zahid Osman said, “Securing this second vessel award reinforces our confidence in 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, he added, will strengthen their position in an emerging market by developing the capabilities, expertise and strategic partnerships needed to support the evolving carbon management value chain.
It also advances MISC’s delivering progress strategy, particularly their Profitable New Energy pillar, where they are strengthening the foundation for them to build the expertise and capabilities to deliver transition-enabling maritime solutions while supporting their customers’ ambitions for a lower carbon future, he said.
Together with their partners, he added they remain committed to strengthening the infrastructure and capabilities required to support the growth of CCS and advance the broader energy transition.
The two vessels will complement Northern Lights’ existing fleet and directly enable the project’s planned capacity expansion, allowing it to serve a broader base of commercial customers across Europe.
Both carriers are expected to feature dual‑fuel LNG propulsion, reinforcing MISC’s commitment to safety, operational reliability, and environmental performance while aligning with the highest regulatory and decarbonisation standards.
