POSCO's steel for LCO2 carriers obtains Lloyd's Register certification

Andy McKeran, maritime performance services hub director at Lloyd's Register, left, and Park Eul-son, head of POSCO's Energy and Shipbuilding Materials Marketing Office, hold a copy of a certification during the 2023 Nor-Shipping Exhibition in Oslo, Norway, June 6. Courtesy of POSCO

By Lee Kyung-min

POSCO-developed steel needed to manufacture large liquefied carbon dioxide (LCO2) carriers has received international certification for the first time in Korea, the local steel giant said Wednesday.

The certification was given by Lloyd's Register, best known for the classification and certification of ships. The United Kingdom entity inspects and approves important components and accessories, including life-saving appliances, marine pollution prevention, fire protection, navigation, radio communication equipment, deck gear, cables, ropes and anchors.

POSCO said the certification was given at the 2023 Nor-Shipping Exhibition in Oslo, Norway, June 6.

“Nor” is short for a Notice of Readiness. It is a notification by a vessel that it is ready to start charter service upon delivery or is ready to load or discharge cargo.

The certification-winning steel ― LT-FH36 ― is able to maintain stability even in temperatures of minus 55 degrees Celsius or lower.

POSCO said demand for the new product will soar in the global LCO2 carriers market.

The lower the temperature, the larger the tanks loaded and carried by the vessels.

LCO2 carriers thanks to the newly developed products will be able to better liquefy and transport carbon collected by carbon capture utilization and storage (CCUS) technologies.

CCUS technologies involve the capture of carbon dioxide (CO2) from fuel combustion or industrial processes as well as the transport of CO2 via ship or pipeline. It is used to create valuable products or services or be stored permanently deep underground in geological formations.

The technology for storing carbon is referred to as CCS, and the technology for using carbon in production facilities is CCU.

Andy McKeran, maritime performance services hub director at Lloyd's Register, said the certification is expected to establish a critical value chain in the CCS for achieving carbon neutrality.

POSCO will continue to develop carbon neutrality-related technologies.

It plans to work with local shipbuilders to lead the large LCO2 carriers market.