MISC Berhad, in collaboration with Kawasaki Kisen Kaisha Ltd. (K Line), has secured a long-term Time Charter Party from Northern Lights JV DA on 29 January 2026 to supply a dedicated liquefied carbon dioxide (LCO₂) carrier. The vessel will support the next phase of Europe’s first open-access carbon capture and storage (CCS) transport and storage initiative. A second charter for an additional newbuild LCO₂ carrier is anticipated in April 2026.
The contract marks MISC’s entry into the LCO₂ shipping segment, signalling a strategic move into specialised vessels designed to enable large-scale CCS deployment. The carrier will be owned through a joint venture between MISC and K Line, underscoring a partnership-driven approach to developing assets in this emerging market.
The purpose-built vessel will have a capacity of 12,000 cubic metres and is engineered to ensure the safe and efficient cross-border transport of liquefied CO₂ from industrial capture facilities to permanent offshore storage sites in Norway. It will complement Northern Lights’ existing fleet and support the project’s targeted capacity expansion to accommodate additional customers across Europe.
President and Group CEO Zahid Osman said the award reflects MISC’s proactive positioning in a segment expected to play a vital role in the global energy transition. He highlighted that CCS requires transport solutions that are scalable, reliable and commercially viable, with maritime shipping serving as a critical link in connecting capture sites to storage locations beyond the limits of fixed pipeline infrastructure.
The newbuild LCO₂ carrier is expected to feature dual-fuel LNG propulsion, aligning with MISC’s emphasis on safety, operational efficiency and environmental performance while meeting evolving decarbonisation standards. The 12,000 cubic metre vessel is set to represent a first-of-its-kind development within its class
MISC’s participation in the Northern Lights project aligns with its broader strategy to expand its portfolio of low-carbon and transition-supporting maritime solutions. By strengthening its technical and organisational capabilities in CO₂ logistics and collaborating with established industry partners, MISC aims to contribute to the growth of the CCS value chain while advancing its commitment to delivering long-term, sustainable progress.
