A car carrier with a capacity of 6,900 vehicles, has been delivered to Kawasaki Kisen Kaisha, Ltd. (“K” LINE) on February 27. The vessel is mainly fueled by liquefied natural gas (LNG) and was constructed by SHIN KURUSHIMA TOYOHASHI SHIPBUILDING CO., LTD.

A naming ceremony was held on the day of the delivery, and the vessel was named OCEANUS HIGHWAY (the “Vessel”) by Mr. Kazuhiko Sumi, Managing Executive Officer of Mazda Motor Corporation (Mazda).

LNG fuel is expected to reduce emissions of carbon dioxide (CO2), a greenhouse gas (GHG), by 25% to 30% and emissions of sulfur oxides (SOx), which cause air pollution, by almost 100%.

In “K” LINE Environmental Vision 2050 -Blue Seas for the Future- *, it has set the 2030 interim target of improving CO2 emissions efficiency by 50% compared with 2008, surpassing the IMO target of a 40% improvement. Furthermore, it sets its new target for 2050 as “The Challenge of Achieving Net-Zero GHG Emissions”. As an action plan, it will continue to work on the introduction of new fuels which have a low environmental impact and take on the challenge of achieving the targets we have established.

Vessel Particulars

Main Measure:   LOA 199. 95 meters x Beam 38.00 meters x Depth 38.07 meters x Draft 9.00 meters

Gross Ton:   75,259

Speed:    19.0 KTS

Class:    ClassNK

Flag:   Japan

Builder:    SHIN KURUSHIMA TOYOHASHI SHIPBUILDING CO., LTD

* “K” LINE Environmental Vision 2050- Blue Seas for the Future-

As an action plan to reduce GHG, we are engaged in number of initiatives, for instance introducing zero-emission fuels such as ammonia and hydrogen fuels, and carbon-neutral fuels such as bio-LNG and synthetic fuels.

https://www.kline.co.jp/en/sustainability/environment/management.html

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) financed the construction of the LNG-fueled car carrier ‘OCEANUS HIGHWAY’, which was delivered today, using the framework of the Zero-Emission Accelerating Ship Finance (the program). The program is jointly operated by the Development Bank of Japan (DBJ) and Nippon Kaiji Kyokai (ClassNK), with the aim of supporting the maritime shipping industry’s transition toward decarbonization.

The program is based on a comprehensive scoring model developed jointly by DBJ and ClassNK that evaluates ships from the perspectives of decarbonization, environmentally friendly performance, and innovation. DBJ provides investment and loans based on these evaluations. This is the first time “K” LINE has utilized this program for financing.

The OCEANUS HIGHWAY has received an A rating from ClassNK as a “ship with high decarbonization, environmentally friendly performance, and innovativeness,” recognizing that adequate environment-related investments have been made.

The following points were highly evaluated in this assessment of the ship:

(1) The use of LNG fuel makes a 25% reduction in carbon dioxide (CO₂) emissions possible compared to conventional fuel oil.

(2) Reduction in the emission of nitrogen oxides (NOx), sulfur oxides (SOx), and particulate matter (PM) through the use of LNG fuel complies with the International Maritime Organization (IMO)’s NOx Tier III regulations and SOx regulations.

In “K” LINE Environmental Vision 2050 -Blue Seas for the Future-*, “K” LINE has set the 2030 interim target of improving CO2 emissions efficiency by 50% compared with 2008, surpassing the IMO target of a 40% improvement. Furthermore, it sets its new target for 2050 as “The Challenge of Achieving Net-Zero GHG Emissions.” The LNG-fueled car carrier “OCEANUS HIGHWAY,” which has obtained an evaluation based on the program, is part of efforts in line with this vision.

Vessel Particulars

Main Measure:   LOA 199.95 meters x Beam 38.00 meters x Depth 38.07 meters x Draft 9.00 meters

Gross Ton:  75,259

Speed:  19.00 KTS

Class:    ClassNK

Flag:   Japan

Builder:   SHIN KURUSHIMA TOYOHASHI SHIPBUILDING CO., LTD

* “K” LINE Environmental Vision 2050: Blue Seas for the Future

As part of our action plan to reduce GHG, we are engaged in a number of initiatives, for instance introducing zero-emission fuels such as ammonia and hydrogen fuels, and carbon-neutral fuels such as bio-LNG and synthetic fuels.

https://www.kline.co.jp/en/sustainability/environment/management.html

Kawasaki Kisen Kaisha, Ltd. (Head office: Chiyoda-ku, Tokyo, President & CEO: Yukikazu Myochin, hereinafter ““K” LINE”) and Kamigumi Co., Ltd. (Head office: Kobe City, Hyogo, President & CEO: Yoshihiro Fukai, hereinafter “Kamigumi”) concluded a share transfer agreement on September 27, 2024, under which “K” LINE would establish a holding company that would become the parent company of “K” LINE LOGISTICS, LTD. (hereinafter “K” LINE LOGISTICS) to which “K” LINE would transfer all of the shares of “K” LINE LOGISTICS held by “K” LINE, and “K” LINE would transfer 47% of the total shares of the holding company to Kamigumi.

“K” LINE today announces that it has established the holding company, in accordance with the details of the agreement. “K” LINE plans to transfer 47% of the total shares of the holding company established today to Kamigumi on April 1, 2025.

Outline of the Holding Company

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News Release on September 27, 2024:

Notice of the Establishment of a Holding Company of Consolidated Subsidiary of Kawasaki Kisen Kaisha Co., Ltd. (“K” LINE LOGISTICS, LTD.) and the Partial Transfer of the Company’s Shares to Kamigumi Co., Ltd.

https://www.kline.co.jp/en/news/logistics/logistics-20240927.html

“K” LINE Group will participate in Wind Expo 2025 to be held from February 19^th to February 21st at Tokyo Big Sight.

Co-operating with overseas partners who already have track records and know-how around offshore wind, “K LINE Group has been pursuing the best and creative solutions to the development of offshore wind supply chain in Japan and enhancing our capabilities to support such development.

As the first step, in September 2024, we have established a joint venture company, “EK Geotechnical Survey LLC” to service the offshore marine geo-survey sector with Japanese flagged geotechnical survey vessel “EK HAYATE”. *

“K” LINE, “K” Line Kinkai, “K” Line Wind Service, “K” Line Logistics and Daito Corporation will present their activities with ship models and movies at the booth. You are always welcome at our booth and for the seminar. Please visit us! 

* Released on October 3^rd, 2024:

Establishment of a Joint Venture for Offshore Geo-Survey – Delivery of geo-survey vessel “EK HAYATE” to Japan-

https://www.kline.co.jp/en/news/carbon-neutral/carbon-neutral-20241003.html

“K” LINE Releases Video Update on Medium-Term Management Plan and 3Q FY2024 Results

A video explaining progress in implementing the medium-term management plan and results for the the third quarter of FY2024

https://www.kline.co.jp/en/corporate/kline_with.html

“K” LINE provides quarterly updates on the progress of its medium-term management plan through “K” Line With. Based on the FY2024 theme, “Steady Steps Toward Further Growth,” in addition to the video outlining the latest performance forecasts, it also focuses on three key aspects of the management plan: business strategy, functional strategy and capital policy. It offers detailed insights into the company’s initiatives and progress of the management plan, aiming to share this information with both internal and external stakeholders.

“K” LINE is implementing an offshore support vessel business for offshore wind power installations as part of its growth strategy to undertake low-carbon and decarbonization initiatives outlined in its medium-term management plan by leveraging “K” LINE Group’s unique strengths. This video details “K” LINE’s geotechnical survey in its offshore wind power supply chain*. It showcases the company’s commitment to contributing to decarbonization for society by offering a variety of services chosen by customers while striving for sustainable growth and enhancing corporate value.

“K” LINE has posted the video on its official website in addition to “K” Line With to make outside stakeholders more aware of the Company’s activities. “K” LINE also aims to deepen understanding of the medium-term management plan among business sites on land and sea within the Group, globally promote internal communication and information sharing, encourage a sense of solidarity as a source of the Group’s strength, and reinforce the foundation of its business operations.

(*)   “K” Line Wind Service, LTD. > Businesses > Offshore wind power operations

https://klinewind.jp/service/#wind

(A news release related to “K” Line With)

November 17, 2023: Sharing Information within the Group Using Video Communication Site for Employees “K” Line With

https://www.kline.co.jp/en/news/other/other-20231117.html

4 February 2025 : Please be advised that “K” LINE Tokyo Head Office published the following press releases today. 

・Change of Directors

・Notice Regarding Partial Amendment to the Articles of Incorporation

・Notice Regarding Extraordinary General Meeting of Shareholders

These documents are also available on their website both in English and Japanese.

(https://www.kline.co.jp/en/

4 February 2025 : Please be advised that “K” LINE Tokyo Head Office published the following press release today

・Changes of Management

・Notice on Changes of Chairperson of the Board, President & CEO and Representatives

These documents are also available on their website both in English and Japanese.

https://www.kline.co.jp/en/

4 February 2025 : Please be advised that “K” LINE Tokyo Head Office published the following press release today

・  Financial Highlights for 3rd Quarter FY2024

This document is also available on their website both in English and Japanese.

https://www.kline.co.jp/en/