Japanese companies Mitsui OSK Lines (Mol) and Mitsubishi Shipbuilding have made significant progress in the development of an ocean-going liquefied CO2 (LCO2) and methanol carrier, crucial for the establishment of carbon capture, utilization, and storage (CCUS) value chains in the country. Their design concept has received approval in-principle from Class NK, certifying that it meets international standards for the transportation of dangerous chemicals and liquefied gases. The innovative vessel will play a key role in shipping CO2 out of Japan and bringing back CO2-based synthetic methanol, known as e-methanol. This process will enhance transport efficiency and support the decarbonization of various industries, including maritime shipping. The collaboration between Mol and Mitsubishi aims to address Japan's increasing demand for CO2 exports and e-methane imports, offering a sustainable solution compared to using dedicated vessels for CO2 or methanol. The production of e-methanol, which can be created using CO2 and renewable hydrogen, aligns with efforts to reduce emissions and promote environmental sustainability. Additionally, Mol has invested in e-fuel production and established partnerships to develop synthetic fuel and e-methanol supply chains alongside CO2 utilization. The approval of the LCO2/methanol carrier design marks a significant milestone for the companies, who are now focused on commercializing the vessel, although the commissioning date remains uncertain. Japan's ambitious target to reduce greenhouse gas emissions significantly by 2040-41 and achieve net-zero emissions by 2050 underlines the importance of initiatives like CCUS value chains. The Mol group has set its sights on reducing emissions intensity in transportation and ultimately achieving net-zero emissions by 2050, reflecting a broader commitment to environmental stewardship and sustainable practices. By leveraging green hydrogen and CO2, projects like HIF Global's e-methanol production facilities aim to contribute to emission reduction and foster a cleaner energy landscape.