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    K Line Inks Time Charter Deal with Petronas LNG

Summary

These are the first long-term time charter contracts between Petronas and K Line with new-building vessels.

by: Shardul Sharma

Posted in:

Natural Gas & LNG News, Asia/Oceania, Liquified Natural Gas (LNG), Security of Supply, Corporate, News By Country, Japan

K Line Inks Time Charter Deal with Petronas LNG

Japanese shipping company Kawasaki Kisen Kaisha (K Line) has signed a 12-year charter contract with Malaysian state-run Petronas LNG for two newbuilding LNG vessels, the company said February 10. The companies have an option to extend the contract by another 12 years.

K Line has also executed shipbuilding contracts for 79,960 m3 LNG carriers with China's Hudong-Zhonghua Shipbuilding. These are the first long-term time charter contracts between Petronas and K Line with new-building vessels, K Line said. These two vessels will be equipped with X-DF engine, a dual-fuel engine which uses gas admitted at low pressure.

These two vessels will engage in the transportation of LNG from Malaysia to China’s Shenergy group from 2022.