Overseas Shipholding Gets Federal Grant to Design Marine Transport For Liquified CO2

By Stephen Nakrosis

Overseas Shipholding Group said it was the recipient of a $3 million grant from the U.S. Energy Department to engineer and design a new vessel to transport liquified carbon dioxide.

The award will be used toward the design and development of an articulated tug and barge units to transport the CO2 captured by emitters in the Tampa Bay area to sites in the Gulf of Mexico, where it will be sequestered.

Sam Norton, the company's president and chief executive, on Monday said Overseas Shipholding has an extensive track record as a provider of energy transportation of adopting new technologies, adding "Transporting liquified CO(2) is a natural next step into an exciting emerging market, consistent with OSG's expertise with liquid cargoes."

Jeff Williams, the company's director of CO(2) Transport Solutions, said Florida presents a unique opportunity, as it has the country's fourth-largest CO(2) emissions from power generation and industrial facilities but no pipeline system to carry captured CO(2) out of state.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 22, 2024 18:24 ET (22:24 GMT)

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