At the 2023 Nor-Shipping Exhibition held in Oslo, Norway, POSCO, a leading South Korean steel company, announced a significant milestone in maritime technology. The company received international certification from Lloyd’s Register for its newly developed steel, crucial for the manufacturing of liquefied carbon dioxide (LCO2) carriers. This marks the first time such certification has been awarded in Korea, underlining the product’s potential impact on the global shipping industry and carbon management solutions.
The certification process was conducted by Lloyd’s Register, a prominent entity known for its ship classification and certification services. This organization plays a critical role in ensuring the safety and performance of maritime components, including lifesaving appliances and marine pollution prevention systems. The steel, designated LT-FH36, has been engineered to perform under extreme conditions, maintaining stability at temperatures as low as -55 degrees Celsius. This makes it particularly suitable for LCO2 carriers, as colder temperatures allow for larger cargo capacities.
POSCO is optimistic about the rising demand for LCO2 carriers, driven by the growing emphasis on carbon capture utilization and storage (CCUS) technologies. CCUS encompasses methods for capturing carbon dioxide emissions from industrial sources and transporting them for storage or utilization in various processes. The technologies can convert CO2 into valuable products or safely deposit it deep underground, thereby mitigating its impact on climate change. The segment focused on storing carbon is termed Carbon Capture and Storage (CCS), while Carbon Capture and Utilization (CCU) refers to the repurposing of captured carbon in production processes.
Andy McKeran, the maritime performance services hub director at Lloyd’s Register, emphasized that the certification is a pivotal development in establishing a robust value chain necessary for achieving carbon neutrality. The partnership between POSCO and Lloyd’s Register aims to enhance maritime capabilities in carbon management, ultimately contributing to global sustainability goals.
In line with this initiative, POSCO plans to collaborate with local shipbuilders, aiming to capture a significant portion of the growing LCO2 carriers market. The organization intends to continuously innovate in carbon neutrality and related technologies, thereby positioning itself as a leader in this emerging sector. The certification not only showcases POSCO’s technical advancements but also reflects the increasing intersection of steel manufacturing and environmental responsibility in the face of contemporary climate challenges.
Overall, POSCO’s achievement represents a key development in the maritime industry, aligning with global efforts to enhance carbon capture systems and contribute towards a more sustainable future.
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