Hunter Group has revealed one of the irons it has in the fire as the one-time shipowner pushes into the carbon capture business.

The Oslo-listed company, which sold its entire fleet last year, announced on Thursday that it had established Hunter Carbon Carriers and is in the final stages of developing a liquefied CO2 carrier.

“The world is currently emitting around 37bn tonnes of CO2 annually,” the company said in its first-quarter earnings release.