“K” LINE enters into charter contracts with Northern Lights for third liquefied CO2 vessels
Northern Lights JV DA and Kawasaki Kisen Kaisha, Ltd. (“K” LINE) signed Bare Boat Charter and Time Charter contracts for the management of the third CO2 ship. This follows the formerly signed contracts for managing the first two 7,500 m3 liquefied CO2 ships, in Northern Lights’ four ship fleet, that will be delivered in 2024, according to the company's release.
The London-based subsidiary “K” LINE LNG Shipping (UK) Ltd., will manage the three ships, facilitating the transportation of liquefied CO2 from Northern Lights customers based in Norway, Denmark, and Netherlands, to Northern Lights’ CO2 receiving terminal in Øygarden, Norway, from where the CO2 will be injected into the offshore reservoir for safe and permanent storage.
In December 2022, “K” LINE was awarded the ship management contracts of the two first Northern Lights ships, which are currently 75% completed and will be delivered later this year.
“K” LINE LNG Shipping (UK) Ltd. is working on an operation manual and commissioning protocol and cooperating with relevant parties such as terminal operators and port authorities.
In parallel, a crew training program is being implemented to ensure safe and reliable operation.
Northern Lights is developing a ship-based CO2 transport solution that enables flexible access to industrial emitters and carbon capture points across Europe. In December 2023, Northern Lights placed the order of a fourth CO2 ship, sister to the ones currently under construction at Dalian Shipbuilding Offshore Co., Ltd (DSOC). With these four ships, Northern Lights will have the world’s largest dedicated CO2 shipping fleet.
Northern Lights delivers CO2 transport and storage as a service, enabling mitigation of industrial emissions that cannot be avoided and accelerating the decarbonisation of European industry. The company will transport liquefied CO2 from capture sites to an onshore receiving terminal in western Norway, before transporting it by pipeline for permanent storage in a reservoir 2,600 metres under the seabed. On schedule to be ready to receive CO2 in 2024, Northern Lights offers safe and reliable CO2 transport and storage services to industrial emitters in Norway and across Europe. Northern Lights JV DA is a registered, incorporated General Partnership with Shared Liability (DA) owned by Equinor, TotalEnergies and Shell.
Kawasaki Kisen Kaisha, Ltd. (“K” LINE) founded in 1919 is one of the largest shipping companies in the world. “K” LINE has a long history and diversified track-record in ownership and technical management of liquefied gas carriers since delivering its first LPG carrier in 1974 and first LNG carrier in 1983. Based on such extensive experience of safe navigation and cargo operation of liquefied gas carriers, “K” LINE will contribute to safety and reliable liquefied CO2 transportation in the new CCS market. “K” LINE Group, as a globally trusted logistics company rooted in the shipping industry, will continue to work toward realizing low-carbon and carbon-free business operations and supporting decarbonization of society as a whole in order to realize a sustainable society and increase its corporate value, based on its corporate philosophy of “helping make the lives of people more affluent”.
