To facilitate the transition to a low-carbon economy, work is currently underway to establish a global CCUS (Carbon Capture, Utilization and Storage) value chain that will entail the transportation of a projected 1 billion metric tons of CO₂ every year. In addition to carriers, the MHI (Mitsubishi Heavy Industries) group also supplies CO₂ recovery equipment, compressors, and related systems. MHI is also involved in the development of CO₂NNEX™, a digital platform for visualizing and optimizing the movement of carbon dioxide around the globe.

The MHI group has been building ships since 1857 and has extensive experience with the design and construction of LNG and LPG carriers. MHI is now taking its expertise in shipbuilding to supplement the transport and handling of cryogenic liquefied gases and applying it to liquefied CO₂ (LCO₂) carriers. Liquefied CO₂ (LCO₂) carriers the transportation of liquefied carbon dioxide at high pressure and low temperatures is subject to international technical and safety regulations stipulated by classification societies. The cargo tank system developed by Mitsubishi Shipbuilding has been granted Approval in Principle (AIP) by classification society Bureau Veritas , attesting to the fact that it meets technical and safety requirements. The carrier’s larger tanks also contribute to increased efficiency and reduced costs.

Carbon dioxide is primarily transported by pipelines or ships. While pipelines are more cost-effective over short distances, for longer distances over 300 km, ships are seen as delivering greater economic benefits. As a result, several Japanese and European projects are currently underway will use LCO₂ carriers to transport CO₂ for storage.