K Line and Petronas LNG Sign Long-Term LNG Carrier Contract

Kawasaki Kisen Kaisha, Ltd. (K Line) has signed a long-term time charter contract with Petronas subsidiary Petronas LNG Ltd. To provide the vessels for the charter, K Line has executed shipbuilding contracts with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. for two 79,960-cubic-meter LNG carriers.

This contract will be the first time that Petronas and K Line have undertaken long-term time charter contracts using new-build vessels. The two vessels will transport LNG from Bintulu in Malaysia to China’s Shenergy Group Co., Ltd.

The contract will start from 2022 and has a duration of 12 years, with an additional extension option for another 12 years.