“K” Line enters into long-term charter agreement with Petronas LNG Ltd. for two newbuild LNG vessels
Kawasaki Kisen Kaisha, Ltd. (“K” Line) is pleased to announce the signing of a long-term Time Charter contract of 12 years plus 12 years (Extension Option) from 2022, which has been concluded with PETRONAS LNG Ltd., a subsidiary of Petroliam Nasional Berhad (PETRONAS). “K” Line has also executed Shipbuilding contracts for 79,960m3 LNG carriers with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong).
These are the first long-term Time Charter contracts between PETRONAS and “K” Line with new-build vessels. These two vessels will be equipped with the X-DF engine.
PETRONAS, a fully integrated oil and gas company and also a global LNG producer with over 35 years of experience, provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS is also the first global energy player to introduce the floating LNG concept in 2016. These two newbuilding vessels will engage in transportation of LNG from Malaysia (Bintulu) to Shenergy (Group) Co., Ltd., China, from 2022.
Since the delivery of S.S. Bishu Maru in 1983, the first LNG carrier owned by any Japanese shipping company, “K” Line has been establishing safety/expertise on LNG transportation and developing its worldwide network over the past 37 years.
“K” Line will further expand stable earning structure from long-term contract and contribute to stable supply of energy.