[Hankyung Business/ May 28, 2024] Dongsung Finetec, a subsidiary specializing in LNG cooling materials under Dongsung Chemical, has achieved a significant milestone by obtaining Approval in Principle (AiP) certification for the cargo tanks of liquefied carbon dioxide (LCO2) carriers from the Korean Register (KR).

Last September marked the initiation of a collaborative effort between Dongsung Finetec and key industry players, including K Shipbuilding, Sunbo Industries, and KR, aimed at jointly developing a 12K㎥ class liquefied carbon dioxide carrier. This collaboration saw K Shipbuilding leading the vessel design, Sunbo Industries focusing on cargo handling and fuel supply systems, and KR overseeing safety and suitability verification.

Dongsung Finetec's utilization of a standalone cargo tank (C-Type), engineered to withstand high pressure, underscores the company's commitment to ensuring the safe transportation of liquefied carbon dioxide. The complexity of the cargo tank design is attributed to its requirement to maintain both high pressure and low temperature throughout transportation.

The achievement comes amidst a global acceleration in decarbonization efforts, with increasing attention being directed towards carbon capture and storage technologies. These technologies play a pivotal role in capturing carbon dioxide emissions from industrial sites and storing them in depleted gas fields or deep groundwater layers, contributing significantly to carbon neutrality aspirations. Consequently, the demand for liquefied carbon dioxide carriers to facilitate the transportation of collected carbon dioxide is witnessing a significant upsurge.