The order of two state-of-the-art, largest CO2 carriers ever contracted constitutes not only a historical milestone for the Capital Group (‘Capital), but for the industry as a whole. It also underscores the company’s commitment to playing a leading role in the global decarbonization efforts, as actions always speak louder than words.
Capital Gas Ship Management Corp. proceeded to the order of the two first-ever state-of-the-art 22,000-cbm liquid CO2 (LCO2) carriers at Hyundai Mipo Dockyard, S.Korea to be delivered in 2025-2026.
The company expects the maritime transportation of CO2 to become a rapidly growing market, in which it aims to hold the premier position.
These trailblazing vessels are designed to carry up to 22,000 cubic meters of liquified CO2 at -55 degrees Celsius, making them unparalleled in terms of capacity and functionality, while also boasting the capability to transport ammonia and LPG, setting a new standard in trading flexibility. They are also equipped with numerous energy-saving devices and have been prepared among others for LNG and other alternative propulsion fuels, while they are carbon capture and AMP (cold ironing) ready.
The specification of these vessels is the outcome of meticulous planning and innovative execution of the company’s technical team, embodying the company's commitment to in-house expertise and progressive thinking. In choosing Hyundai Mipo Dockyard for this ambitious project, the company reaffirms the importance Capital assigns in aligning with top-tier partners, who reflect its own commitment to excellence.
This investment in state-of-the-art technology marks another landmark in Capital’s strategic commitment to building a futureproof “energy transition” fleet, as Capital controls a fleet of 18 latest generation dual fuel (DF) LNG carriers equipped with two-stroke engines and a fleet of six DF/LNG Suezmaxes and six DF/LNG Aframaxes/LR2s.
The signing of the agreement for the construction of the 2 pioneering LCO2 Carriers took place at Capital's offices, where, among others, the following were present: Mr. Evangelos M. Marinakis, Chairman and Founder of Capital Maritime & Trading Corp., Mr. Jerry Kalogiratos, CEO of Capital Product Partners LP, Mr. Spyros Leoussis, Chief Commercial Officer of Capital Product Partners LP, Mr. Nicholas Los, Director of Curzon Shipbrokers Corp., Mr. Miltos Zisis, Managing Director of Capital Gas Ship Management, Mr. Nikolas Vaporis, Chief Technical Officer of Capital Ship Management, Ms. Alexandra Xystra, Technical Director of Capital Gas Ship Management, Dr. Niki Kalogiratou Kalogiratou, Chief Communication Officer, Capital Ship Management, Mr. Stergios Stergiou, Green Shipping & Sustainability Director, Capital Ship Management. Representing Hyundai Heavy Industries were Mr. S.Y. Park, Chief Operating Officer & Senior Executive Vice President, Mr. Y.H. Yeo, EVP & MD of the London Office, Mr. S.D. Yoon, SVP & Head of Athens Office, Mr. J.H. Kim, SVP (HMD Sales). Mr. S.H. KIM, Senior Manager, Athens Office. Also in attendance was Mr. Sid Nair, Newbuildings Director of Clarksons, while Lloyd's Register was represented by Ms. Elina Papageorgiou, Vice President for Greece, and Mr. Andrew McKeran, Chief Commercial Officer. Marshall Islands International Registries were represented by Mr. Theo Xenakoudis, Chief Commercial Officer, and Mr. Vasilis Kamitsis, Regional Technical Manager.
Capital Gas Ship Management Corp. currently operates a fleet of 20 modern LNG Carriers and 2 pioneering LCO2 carriers with a total carrying capacity of approximately 3.13 million cubic meters and a total dwt of 1.47 Tons.
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