Malaysia’s top shipping line, MISC, is making its foray into the carbon capture and storage (CSS) value chain by joining forces with Mitsui & Co, Samsung Heavy Industries (SHI) and Andritz to work on solutions for the shipping industry.
Under a memorandum of understanding with the Japanese trading house Mitsui & Co the Kuala Lumpur-based owner will explore business opportunities across the CCS value chain, including the identification of potential CCS hubs, assessing the commercial and technical viability of CCS solutions.
The collaboration with the South Korean shipbuilder SHI covers the joint development of a floating CO2 storage unit that can store carbon dioxide captured in land terminals before it goes into the depleted offshore gas and oil wells.
MISC’s partnership with Austrian engineering group Andritz is targeted towards the application and optimisation of carbon capture technologies and the engineering, procurement, construction, installation, and commissioning of CCS systems for marine and land-based applications.
MISC’s president and group chief executive officer, Captain Rajalingam Subramaniam, said carbon capture and storage technologies as well as related infrastructure, are pivotal measures to support and accelerate the transition towards a low-carbon future.
“Strategic collaborations with global stakeholders have always been our approach, and we will continue forging partnerships in the development and commercialisation of the carbon capture and storage value chain. The MoUs reflect MISC’s ambition to define our role in a future that is being shaped by the energy transition and we are pleased to explore opportunities in this new venture with our partners,” added Subramaniam.
