MISC Berhad, in partnership with Kawasaki Kisen Kaisha Ltd., known as K Line, has secured a long-term time charter party from the Northern Lights joint venture to provide a dedicated liquefied carbon dioxide carrier for the next phase of Europe’s first open-access carbon capture and storage transport and storage project.

The award, granted on Jan. 29, 2026, covers a newbuild LCO₂ carrier and marks MISC’s first entry into the liquefied CO₂ shipping segment. A second time charter party for an additional newbuild LCO₂ carrier is expected to be awarded in April 2026.

The vessel will be owned through a joint venture company between MISC and K Line, reflecting a partnership-based approach to asset ownership in the emerging CO₂ shipping sector.

The purpose-built vessel will have a cargo capacity of 12,000 cubic meters and is designed to support the safe, reliable and efficient cross-border transportation of liquefied CO₂ from industrial capture sites to permanent offshore storage in Norway. The carrier will complement Northern Lights’ existing fleet and support the project’s planned capacity expansion to serve additional commercial customers across Europe.

“This award reflects MISC’s deliberate and early entry into a specialised segment that will be increasingly important as the energy transition advances,” said Zahid Osman, president and group chief executive officer of MISC. “Carbon capture and storage require solutions that are practical, scalable and reliable, and maritime transport plays a critical role in enabling this value chain.”

He said maritime transport enables captured CO₂ to be moved across regions and borders, providing access to storage sites that would otherwise be constrained by fixed infrastructure, strengthening MISC’s role as a maritime solutions partner supporting the growth of the CCS ecosystem.

The LCO₂ carrier is expected to feature dual-fuel LNG propulsion, aligning with MISC’s focus on safety, operational reliability and environmental performance, as well as evolving regulatory and decarbonisation requirements. The 12,000-cubic-meter vessel class is expected to represent a first-of-its-kind development within the segment.

MISC said the project supports its broader strategy to expand its portfolio of low-carbon and transition-enabling maritime solutions by building technical and organizational capabilities in CO₂ logistics and strengthening its position in integrated CCS projects.

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MISC secures time charter for newbuild LCO₂ carrier supporting Northern Lights CCS expansion

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