Photo credit: K Line / image for illustration purposes only

Kawasaki Kisen Kaisha (K Line) has sealed a 15-year long-term time charter contract with Mitsubishi Corporation subsidiary Diamond Gas International on Friday. The deal comes with an option to extend the contract up to ten additional years.

This is the first long-term time charter deal between the two parties involving a newly built vessel. The vessel will be engaged in LNG transportation around the world beginning in the second half of 2026.

The company has also signed a shipbuilding contract with Samsung Heavy Industries for a 174,000 m3 LNG carrier.

K Line considers the LNG market as one of its top priority areas for future investments, and therefore in the last 40 years since the delivery of the first Japanese LNG carrier, Bishu Maru, in 1983, has been establishing its expertise in LNG transportation.   

“K Line will continue to expand its long-term contracts and accommodate the growing demand for energy by responding to the diverse needs of its customers,” says the company in its release, adding that the new vessel will be equipped with ME-GA engine and achieve reduction of fuel consumption during operation.