K Line orders eight LNG-fuelled car carriers
Japanese shipping major K Line has decided to order eight liquefied natural gas (LNG)-fuelled car carriers, following the recent delivery of its first LNG-powered car carrier Century Highway Green.
As informed, the 7,000 CEU vessels will be built by shipbuilding companies Nihon Shipyard, Shin Kurushima Dockyard and China Merchants Jinling Shipyard.
Two units will be constructed at each of the three shipyards. They are slated for delivery between 2023 and 2025.
The company expects that through the use of LNG as a fuel rather than the conventional one and with exhaust gas recirculation (EGR), the units will emit less harmful emissions.
It is anticipated that they will reduce emissions of carbon dioxide (CO2) by 25% to 30%, emissions of sulfur oxides (SOx), which cause air pollution by almost 100%, and emissions of nitrogen oxides (NOx) by 80% to 90%.
With these new investments, the shipping major aims to meet the latest International Maritime Organisation’s (IMO) 2050 reduction targets.
K Line welcomed its first LNG-powered car carrier in March this year. It was built by Tadotsu Shipyard Co., part of the Imabari Shipbuilding Group.
Due to the ship’s environmentally-friendly characteristics, the firm was able to secure an operating lease for the car carrier through Climate Transition Loan with Mizuho Bank and Sumitomo Mitsui Trust Ban.
The projects represent an important milestone for achieving the targets set forth in the K Line Environmental Vision 2050 of improving CO2 emission efficiency by 50% compared to 2008, the company concluded.