Greece’s Capital Clean Energy Carriers Corp., an international owner of ocean-going vessels, has announced the delivery of the world’s first 22,000 cubic meters low-pressure liquid CO2 (“LCO2”) carrier, the Active, from Hyundai Mipo Dockyard Co.
The Active is the first of four 22,000 cbm LCO2/multi gas carriers under CCEC’s investment program at HMD. The vessel is designed to transport LCO2, while remaining fully competitive in the conventional handy semi-refrigerated gas carrier market. These ships feature multi-cargo capability and can carry LCO2, LPG, ammonia and selected petrochemicals, providing exceptional deployment flexibility across market cycles.
With the handy semi-refrigerated gas carrier orderbook relatively limited, these vessels stand out for their versatility and optionality as they adapt to shifting market dynamics. At the same time, the series has been engineered to support the emerging Carbon Capture, Utilization and Storage (“CCUS”) value chain. As global CCUS infrastructure develops, demand for LCO2 transportation is expected to increase, positioning the Active and her sister vessels as ready-to-deploy tonnage for charterers.
Based on the current pipeline of projects tracked in the International Energy Agency’s CCUS Projects Database, CO2 capture capacity could reach approximately 430 million tonnes per year by 2030, while storage capacity could rise to approximately 670 million tonnes per year over the same period. Today, global capture capacity is estimated at roughly 50 million tonnes per year. As captured CO2 volumes scale and storage sites are increasingly connected with industrial hubs, and logistics solutions—including marine transportation—are expected to play a larger role.
The Active recently won the Lloyd’s List Greek Shipping 2025 “Ship of the Year” Award “for opening a new chapter in future carbon transportation solutions” and for its “revolutionary tank technology and multi-cargo flexibility”.
The Active will be immediately deployed under a six-month time charter transporting LPG for an energy trading company, with an option to extend the charter for an additional six months. CCEC’s acquisition of these advanced vessels demonstrates the Company’s commitment to fleet diversification and to expanding its presence in the broader gas transportation sector, with a clear focus on enabling the energy transition.
The acquisition of the Active was financed with $29.4 million of cash on hand and a 12-year ECA-backed loan of $48.9 million. The loan is repayable in 48 quarterly instalments of $0.6 million, with a balloon payment of $18.0 million payable with the final instalment in January 2033. The Company may borrow an additional amount of up to $7.5 million if the vessel secures longer term employment.
(Photo from Capital Clean Energy Carriers)