“K” LINE ENERGY SHIPPING (UK) LIMITED (KLES), a London-based subsidiary of Kawasaki Kisen Kaisha, Ltd. (“K” LINE), and Havstjerne ANS (HANS) an unlimited liability incorporated partnership of Harbour Energy Norge AS (Norwegian subsidiary of Harbour Energy, an oil and gas company in the UK) and Stella Maris CCS AS (a wholly owned subsidiary of the Yinson Production) have entered into an agreement to jointly identify the transportation, injection and storage solutions best suited for the Havstjerne CO₂ storage licence on the Norwegian Continental Shelf and work to increase the maturity of these solutions.

Under a Memorandum of Understanding (MoU), KLES and HANS will collaborate to optimize technical and commercial solutions for a marine-based CO₂ value chain based on a floating storage and injection unit (FSIU) and liquefied CO₂ carriers and bring these solutions to maturity. The two companies will leverage their expertise in liquefied CO₂ transportation, injection, and subsurface storage to provide a robust and cost-effective CO₂ transport and storage service to emitters participating in the Havstjerne CO₂ value chain.

For CCS projects worldwide, offshore sequestration is a safe and efficient way of permanently storing large volumes of CO₂. FSIUs are well suited to serve as safe, reliable and cost-efficient solutions in offshore CCS projects where it is difficult to secure sufficient land for an onshore CO₂ receiving terminal, or where the distance between the receiving terminal and the offshore storage site would require an extended pipeline. The Havstjerne licence is in the Norwegian sector of the North Sea, approximately 100 km southwest of Egersund and within relative proximity to key ports in Northern Europe. It is 60% owned by Harbour Energy (the operator) and 40% owned by Stella Maris CCS AS, a unit of Yinson Production.

Yinson Production operates a fleet of floating production, storage and offloading (FPSO) and floating storage and offloading (FSO) vessels and has extensive expertise in engineering, design, and operations in the offshore energy sector. Since 2021, Yinson Production has been steadily developing its carbon value chain, with direct investments in carbon capture technologies.

The “K” LINE Group has a long history and diverse track record in the owning, operation and management of liquefied gas carriers. Since 2024, KLES has managed two liquefied CO₂ carriers for the world’s first commercial CO₂ transport and storage service. In line with “K” LINE Environmental Vision 2050, the “K” LINE Group’s long-term environmental policy, the “K” LINE Group is actively promoting various initiatives with the goal of supporting its own decarbonisation efforts and those of society. “K” LINE will push forward with its CCS business with the aim of achieving a sustainable society and enhancing its corporate value.

About Kawasaki Kisen Kaisha, Ltd. (“K” LINE)

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) founded in 1919 is one of the largest shipping companies in the world. “K” LINE has a long history and diversified track-record in ownership and technical management of liquefied gas carriers since delivering its first LPG carrier in 1974 and first LNG carrier in 1983. Based on such extensive experience of safe navigation and cargo operation of liquefied gas carriers, “K” LINE will contribute to safety and reliable liquefied CO₂ transportation in the new CCS market. “K” LINE Group, as a globally trusted logistics company rooted in the shipping industry, will continue to work toward realizing low-carbon and carbon-free business operations and supporting decarbonization of society as a whole in order to realize a sustainable society and increase its corporate value, based on its corporate philosophy of “helping make the lives of people more affluent”.

About Yinson Production

“Passionately delivering powerful solutions”

Yinson Production is a leading independent owner and operator of floating production, storage and offloading (“FPSO”) vessels worldwide. With a current fleet of 10 vessels, Yinson Production has an order book of over USD 19 billion until 2048 and global presence in 10 countries.

Yinson Production’s position as a top tier FPSO contractor is driven by its excellent track record in project execution, industry-leading safety and uptime performance, and a leadership position in sustainable FPSO designs. Yinson Production’s innovative Zero Emissions FPSO Concept is paving the way for the decarbonisation of the FPSO industry.

Yinson Production is a business of Yinson Holdings Berhad, a global energy infrastructure company active in offshore energy with Yinson Production, renewable energy with Yinson Renewables, and green technologies with Yinson GreenTech.

About Harbour Energy

Harbour Energy has built a unique position as one of the world’s largest and most geographically diverse independent oil and gas companies, with operations spread across five continents. It is producing between 460,000 and 475,000 barrels of oil equivalent (2025 guidance) per day with significant production in Norway, the UK, Germany, Argentina and North Africa. With low GHG emissions intensity and a leading CO₂ storage position in Europe, Harbour remains committed to producing oil and gas safely and responsibly to help meet the world’s energy needs.

Harbour is headquartered in London with approximately 3,400 employees and direct contract staff across its operations and offices.

For more information about Havstjerne, please visit www.havstjerne.com

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) is pleased to announce that phase one of the development of “Seawing” automated kite system utilizing wind power being developed by OCEANICWING S.A.S (OCEANICWING), a subsidiary of “K” LINE in France, was successfully completed in June 2025. In phase one of the development of “Seawing”, OCEANICWING verified the tensile strength and performance of “Seawing” system using a 300 m² kite at a land test site. OCEANICWING has confirmed the results of these tests have been good.

To move forward with the development and practical application of “Seawing”, OCEANICWING commenced phase two of its development in July 2025. In phase two of the development of “Seawing”, OCEANICWING plans to increase the size of the kite and verify the tensile strength, reliability, operability and safety of “Seawing” system at the land test site, looking ahead to the shipboard use of the system. Additionally, OCEANICWING will conduct offshore demonstration experiments on a large bulk carrier owned and operated by “K” LINE. The goal is to complete the tests within approximately two years and move toward the practical application of “Seawing”. It is expected that “Seawing” will reduce fuel consumption by more than 10%.*¹
Additionally, to facilitate the establishment and commercialization of “Seawing”, OCEANICWING appointed Shingo Kameyama CEO on August 1. Mr. Kameyama has been involved in the development of “Seawing”.

*1           Please note that actual energy-saving effects depend on ship type, speed, route and season. In certain combinations of these factors, fuel consumption may be reduced by significantly more than 10%.

“Seawing” harnesses natural wind power and can be installed on any type of vessel, including existing vessels. It is expected that there will be synergy between “Seawing” and the efforts to transition away from the conventionally used heavy fuel oil to other fuels such as liquified natural gas (LNG), and that “Seawing” will increase performance in terms of the reduction of CO₂ emissions. There are several wind-assisted propulsion systems (WAPS) that are under development, and “Seawing” is differentiated from the other WAPS by its ability to generate a comparatively large amount of thrust, which is achieved using high-altitude wind.

Takenori Igarashi, the President & CEO of “K” LINE, said, “Phase one of “Seawing” development process being implemented by OCEANICWING has been successfully completed. We will continue to develop the system so that it can be used on ships. We plan to develop this innovative energy saving device harnessing natural wind power into a great solution for achieving the decarbonization of the shipping industry.”

The “K” LINE Group will continue to strive to contribute to the sustainable development of society and the economy and continue to increase its corporate value based on “K” LINE Environmental Vision 2050, the Group’s long-term environment management vision as it moves toward 2050. “K” LINE will maximize the use of wind, a renewable source of energy, in the propulsion of the vessels to contribute to the low-carbon initiatives of not only “K” LINE, but also “K” LINE’s customers and society as a whole.

“K” Line Wind Service, Ltd. (KWS), a joint venture between Kawasaki Kisen Kaisha, Ltd. and Kawasaki Kinkai Kisen Kaisha, Ltd., reached an agreement with the shareholders of SN Marine Co., Ltd. (SN Marine), including Sugahara Kisen Co., Ltd., regarding a capital alliance with SN Marine through a third-party allotment of shares.

SN Marine is a company with a leading record and extensive experience in the operation of offshore support vessels for offshore wind power projects. It owns and operates the offshore support vessel “KAIKO” and manages the geological survey vessel “EK HAYATE,” an advanced initiative.

To date, SN Marine and KWS have been providing operational services for these vessels under a closely coordinated cooperative framework. Furthermore, SN Marine has been leveraging its strengths in the operation of multiple offshore support vessels in Japanese waters to proactively develop Japanese crew members with dynamic positioning system (DPS) qualifications which are required in the operation of offshore support vessels for offshore wind power generation projects. It has also been obtaining international inspections such as the e-CMID^*1 and OVID^*2, which objectively assess the safety of vessels that are required for the vessel used in offshore wind power projects.

KWS and SN Marine reached an agreement on the formation of this capital alliance to build  their long-standing cooperative relationship and enrich their internationally standardized offshore support services that are in demand in the offshore wind power industry. The Japanese government has set the targets of developing 10 GW of offshore wind power by 2030 and 30-45 GW by 2040 (including floating offshore wind power equipment). To achieve these ambitious targets, it will be necessary to significantly increase the number of offshore support vessels. However, we believe that to ensure support vessel services are steadily provided, it is necessary to secure vessels, recruit experienced crews and establish an operational framework that reflects deep knowledge of the business.

By integrating SN Marine, which has an extensive operational track record and experience in the offshore support vessel business it has honed at offshore wind power sites, and the “K” LINE Group, which has developed internationally recognized safety management procedures through its domestic and overseas shipping businesses and a robust network within the offshore wind power industry, we will continue to provide the services necessary for the future of the offshore wind power sector.

(*1) The electronic Common Marine Inspection Document.

Internationally standardized ship inspection system for the marine and offshore industries provided by the International Marine Contractors Association.

(*2) The Offshore Vessel Inspection Database.

An inspection database for evaluating and managing the safety and operational capabilities of ships that comply with the SIRE format developed by the Oil Companies International Marine Forum.

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has released a video on its official website explaining its  forecasts for FY2025 and its progress of the medium-term management plan. Initially shared on “K” Line With, the Group’s internal video communication platform, the video is now available to a broader audience.

“K” Line With details the progress of the medium-term management plan on a quarterly basis, providing explanations of the latest earnings forecasts and also focuses on initiatives which consider the three important points of the medium-term management plan, specifically, the business strategy, the functional strategy and the capital policy. By doing so, it communicates the progress in the medium-term management plan to people in the “K” LINE Group and a broad range of other stakeholders.

The first half of the video explains the FY2025 earnings forecasts and the business environment surrounding “K” LINE.

The latter half of the video shares initiatives that “K” LINE has been promoting in three businesses that play a role in driving growth leveraging the strengths that “K” LINE has been refining through its functional strategy, specifically, Environment・Technology, Safety ・Ship Quality Management and Digital Transformation. The video highlights “K” LINE’s steady efforts combining the functions that contribute to its strengths and its businesses to implement growth strategies in areas where these functions can be utilized, with a view toward the improvement of 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.

(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

Please be advised that “K” LINE Tokyo Head Office published the following press release today. 

Please refer to the attached PDF documents for details.

・Financial Highlights for 1st Quarter FY2025

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

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