K Line Orders, Charters Out LNG Carrier Pair
- Business & Finance
Japanese shipping company Kawasaki Kisen Kaisha (K Line) has ordered two new LNG carriers in China and signed a long-term time charter contract with Petronas LNG.
The company inked shipbuilding contracts for two 79,960 cbm LNG carriers with Hudong-Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC).
Scheduled for delivery in Q2 2022, the LNG carriers will have a length of 239 meters and a width of 36.6 meters.
The newbuilds will work for Petronas LNG, part of Petroliam Nasional Berhad (Petronas), under a 12-year time charter plus a 12-year extension option.
The vessels known as Wuhaogou-Max (W-Max) are specifically built to optimize the delivery of LNG cargoes to Shenergy’s Wuhaogou LNG terminal in Shanghai.
As disclosed by Petronas, the vessels are capable of delivering fully laden cargoes within the channel’s permissible limits without exceeding the port’s draught limitation.
To be equipped with a dual-fuel engine, the ship duo will transport LNG from Malaysia (Bintulu) to Shenergy (Group) Co., Ltd., China, starting from 2022.
As informed, these are the first long-term time charter deals agreed between Petronas and K Line for newbuild units.