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“K” Line, Taipower, U-Ming, and Kuang Ming to Establish New Joint Venture Shipping Company in Taiwan

Kawasaki Kisen Kaisha, Ltd. (hereinafter “K” Line), Taiwan Power Company (hereinafter Taipower), U-Ming Marine Transport Corporation (hereinafter U-Ming), and Kuang Ming Shipping Corporation (hereinafter Kuang Ming) have agreed to establish a new joint venture shipping company, and jointly signed Memorandum of Understanding(MOU)in Taipei, Taiwan on July 1. This new joint venture will own both coal and LNG carriers, and operate them for transporting these raw materials to Taipower.

With respect to managing and transporting coal and LNG, “K” Line has accumulated an abundance of experience and specialized skills.  We, therefore, will devote ourselves to contribute to the safety of Taiwan’s energy requirements by providing our many years of accumulated know-how in ship management and safe ship operations to this new joint venture.

Overview of Joint Venture Company

 (1) Name To be decided
 (2) Date of establishment           October 2020 (planned)
 (3) Location  Taipei, Taiwan
 (4) Business activities Ownership and operation of coal and LNG carriers
 (5) Capital  NT$1 billion (approximately 3.6 billion yen)
 (6) Investment ratio Taipower: 40.0%
U-Ming: 32.5%
Kuang Ming: 20.0%
“K” Line:  7.5%