"K" Line

“K”Line Group Environmental Awards 2020 Ceremony held on June 5, 2020.

The awards were established to honor and give recognition to outstanding environmental-preservation-contributive activities undertaken by both executives and employees working throughout the “K”Line Group according to the direction developed in “K”Line Environmental Vision 2050. This year marks the 6th awards since establishment of the awards in 2015, and we also have accepted many entries from our group companies both in Japan and overseas. Activities of seven companies — one “Grand Award” and six  “Excellence Award” —  have been selected from such standpoints as “originality,” “challenge level,” “degree of contribution,” “continuity” and “potential for pervasiveness”, and have received the awards from our President and CEO, Yukikazu Myochin.

The “K”Line Group will continue to share environmental preservation activities being addressed within our Group companies broadly in order that we can further advance dissemination and enlightenment of environmental preservation activities as an entire Group effort by the presentation of these “K”Line Group Environmental Awards. Through this emphasis on continuing aggressively to contribute to environmental preservation and biodiversity protection, we should successfully accomplish our mission, i.e., “Passing on a sustainable society and this blue and beautiful ocean to the next generation” expressed in “K”Line Environmental Vision 2050.

Awardees of the “K”Line Group Environmental Awards are as follows:

GRAND AWARD

Support activities for landing work of floating debris, driftwood by a heavy rain in western Japan recovered by a marine environment maintenance ship in Hiroshima Bay (Seagate Corporation)

Regarding the floating marine debris that had been leaked to Hiroshima Bay due to the heavy rain disaster in Western Japan that occurred in July 2018 and endangered the daily operation of ships, as well as polluting sea, the Ministry of Land, Infrastructure, Transport and Tourism’s Chugoku Regional Development Bureau carried out the recovery work using a marine environment maintenance ship, “Ondo 2000”, owned by Chugoku Regional Development Bureau.

In 2019, Seagate Corporation mobilized its own 60-ton crane truck and technical staff to engage in the landing work of these collected waste.

In FY2019, the company carried out the joint work five times during intervals between the unloading work of steel products from domestic ships as their normal business, and cooperated in the disposal of 100 tons of marine floating waste in total.

EXCELLENCE AWARD

• Reducing the number of tugs usage by improvement of gantry crane parking method at Oi Terminal No. 2 　

Daito Corporation

• Marine environment conservation activities through community-based beach cleaning

”K”Line Chile Ltd

• Create awareness in the office on environmentally friendly practices 　

”K”Line Pte Ltd

• Switch to eco bags from disposable black plastic trash bags in warehouse

”K”Line Container Service Thailand, Ltd.

• Food Redistribution

Century Distribution Systems, Inc. (Hong Kong)

• Business process improvement action to improve the overall level of accident eradication, environmental conservation and operational efficiency 　

Nitto Total Logistics Ltd

(2nd report) -Installed LNG fuel tank

On May 7-8 2020, LNG fuel tanks have been installed on a car carrier which is under construction at Tadotsu Shipyard Co.,Ltd. (Imabari Shipbuilding Group).

The construction is currently on going with estimated delivery within 2020 fiscal year.

The vessel is equipped with a Dual-Fuel Diesel Engine (Mitsui MAN B&W ME-GI), and the Fuel Gas Supply System (FGSS) engineered by TGE Marine Gas Engineering GmbH of Mitsui E&S Group. The FGSS is composed of LNG fuel tank and high-pressure pump. The LNG fuel tank on the vessel is an independent tank of type C, which allows the design pressure to be set higher than other types of LNG fuel tanks. Because the boiling point of methane which is the main component of LNG is -161.5℃, LNG is constantly vaporized due to heat input from outside of the tank. Therefore the tank pressure is increased by the vaporized gas inside of the tank. The type C independent tank allows vaporized gas to be kept in the tank for a relatively longer period of time.

Link:  November 28, 2019, Construction of Next-Generation Environmental-Friendly Car Carrier Fueled by LNG https://www.kline.co.jp/en/news/car/car-8039923832625292775/main/0/link/20191128_en2%20.pdf

“K” Line Group, as a participant in the United Nations Global Compact, is promoting activities that contribute to SDGs (Sustainable Development Goals), and this project is a part of its ongoing activities.

Kawasaki Kisen Kaisha, Ltd.

JERA Co., Inc.

Toyota Tsusho Corporation

Nippon Yusen Kabushiki Kaisha

Japan’s First LNG Bunkering Vessel Launched — Operations to Begin in Autumn 2020

Japan’s first LNG bunker vessel (LBV) was successfully launched at the Sakaide Works of Kawasaki Heavy Industries Ltd.

The LBV is scheduled to be delivered at the end of September 2020 and will be the first LBV to be operated in Japan. After the delivery, the LBV will be based at JERA’s Kawagoe Thermal Power Station and commence ship-to-ship LNG bunkering business for LNG-fueled vessels.

In 2018, Kawasaki Kisen Kaisha Ltd. (“K” Line), JERA Co. Inc., Toyota Tsusho Corporation, and Nippon Yusen Kabushiki Kaisha (NYK Line) jointly established Central LNG Shipping Japan Corporation (CLS), which owns the LBV and ordered its building, and Central LNG Marine Fuel Japan Corporation (CLMF), which will promote the LNG bunkering business in the Chubu (central) region of Japan.

The expertise and strengths of each company will be utilized to provide LNG bunkering solution in the Chubu region and promote a shift to marine LNG for ships.

Merits of LNG

Compared to heavy fuel oil, the use of LNG can reduce emissions of sulfur oxides (SOx) and particulate matter (PM) by approximately 100%, nitrogen oxides (NOx) by as much as 80%, and carbon dioxide (CO₂) by approximately 30%.

Links for reference

January 26, 2018 release: “K” Line, Chubu Electric, Toyota Tsusho, and NYK Line Begin Joint Discussions on LNG Bunkering Business in Japan

https://www.kline.co.jp/en/news/other/other-6032850503267450371.html

May 10, 2018 release: “K” Line, Chubu Electric, Toyota Tsusho, and NYK Line Establish LNG Bunkering Joint Ventures and Launch LNG Bunkering Business in Japan

https://www.kline.co.jp/en/news/lng/lng-7175154730257498310/main/0/link/20189510_E.pdf

July 6, 2018 release: Japan’s First LNG Bunkering Vessel to Start Operation in 2020

https://www.kline.co.jp/en/news/Liquefied_gas/liquefied_gas2110830164254962877/main/0/link/20180706ENFINAL.pdf

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

・Financial Highlights for FY2019

https://www.kline.co.jp/en/news/ir/ir20200511e/main/0/link/200511%20FY2019EN.pdf

・ Notice on Differences between Consolidated Financial Forecasts and Results

for the Full Year ending March 31, 2020, Record of Provision for Loss (Operating Expenses),

and Dividend from Retained Earnings (No Year-End Dividend)

https://www.kline.co.jp/en/news/ir/auto_20200507405187/pdfFile.pdf

If you cannot open the URL please try to access via Website:

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

Kawasaki Kisen Kaisha, Ltd. (“K” Line) has decided during a board meeting held on 30 April 2020 on several changes of Directors and Audit & Supervisory Board Members. 

To read this press release in its entirety,  please visit their website :

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

Kawasaki Kisen Kaisha, Ltd. (“K” Line) has decided in a board meeting held on 30 April 2020 on changes of Executive Officer.

Name: Atsuo Asano

New Position: Representative Director, Vice President Executive Officer

Current Position: Representative Director, Senior Managing Executive Officer

Please see the full list of responsibilities of Executive Officers scheduled on and after June 23, 2020 on the website : https://www.kline.co.jp/en/

Kawasaki Kisen Kaisha, Ltd. (“K” Line) is pleased to announce that it has signed the United Nations Global Compact (the “UNGC”), an initiative proposed by the United Nations, and has been registered as a participating company on April 20, 2020. We have also joined Global Compact Network Japan, which is UNGC’s local network in Japan.

The UNGC is a voluntary initiative in which companies and organizations act as good members of society and participate in the creation of a global framework for sustainable growth by demonstrating responsible and creative leadership. Signatory companies and organizations are required to support and implement the UNGC’s 10 principles on human rights, labour, environment, and anti-corruption.

“K” Line has defined ESG (Environment, Social, Governance) initiatives as an important management issue. On the occasion of participating in the UNGC, we will further strengthen our efforts so as to contribute to the realization of a sustainable society, hence strive to improve our corporate value.

The Ten Principles of the United Nations Global Compact

HUMAN RIGHTS   

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: make sure that they are not complicit in human rights abuses

LABOUR               

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: the elimination of all forms of forced and compulsory labour;

Principle 5: the effective abolition of child labour;

Principle 6: the elimination of discrimination in respect of employment and occupation.

ENVIRONMENT

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: undertake initiatives to promote greater environmental responsibility; and

Principle 9: encourage the development and diffusion of environmentally friendly technologies.

ANTI-CORRUPTION

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

Since February 2020, “K” Line has implemented/expanded remote work programs in response to the spread of COVID-19 to ensure the safety of company employees as first priority.

In case of a stay-at-home requirement by the Local Government, followed by a state of emergency issued by the Japanese government, “K” Line will implement remote work program for all employees whose working offices/homes are located within the requested area in Japan until the requirement lifted.(*)

The “K” Line Group will implement every possible measure to ensure the health and safety of our employees as first priority, and taking appropriate action following Government guidelines.

Thank you for your understanding and support as we make our best efforts to maintain the global supply chain and provide safe and stable service during this unprecedented situation.

(*) Due to anniversary of foundation, our offices in Japan will be closed on April 8th.

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) announces that it is planned to record the extraordinary loss on valuation of investment securities in the consolidated financial results for the fiscal year ending March 31^st, 2020

1. Recording the extraordinary loss

“K” LINE plans to record the loss on valuation of investment securities by the impairment accounting process during the fourth quarter of the fiscal year ending March 31, 2020, for investment securities classified as “available-for-sale securities” where market value showed no prospects for recovery as a result of significant declines.

The total amount of the loss on valuation of investment securities during the fourth quarter of the fiscal year ending March, 31 2020 (January 1, 2020 to March 31, 2020) : 5,260 Million Yen

2. Expected financial results for the fiscal year ending March 31^st, 2020

 By recording above, it is forecasted that the financial results for the fiscal year ending March 31^st, 2020 is to be adjusted downward compared to the previous forecast announced on January 31^st, 2020, however, the other events shall be taken into consideration, the final consolidated financial results are scheduled to be announced on May 11^th, 2020.

Kawasaki Kisen Kaisha, Ltd. (“K” Line) is pleased to announce the signing of a long-term Time Charter contract of 12 years plus 12 years(Extension Option) from 2022, which have been concluded with PETRONAS LNG Ltd., a subsidiary of Petroliam Nasional Berhad (PETRONAS). “K” Line has also executed Shipbuilding contracts for 79,960m3 LNG carriers with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong).

These are the first long-term Time Charter contracts between PETRONAS and “K” Line with new-building vessels. These two vessels will be equipped with X-DF^(※) engine.

PETRONAS, a fully integrated oil and gas company and also a global LNG producer with over 35 years of experience, provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS is also the first global energy player to introduce the floating LNG concept in 2016. These two newbuilding vessels will engage in transportation of LNG from Malaysia (Bintulu) to Shenergy (Group) Co., Ltd., China, from 2022.

Since the delivery of S.S. “Bishu Maru” in 1983, the first LNG carrier owned by any Japanese shipping company, “K” Line has been establishing safety/expertise on LNG transportation and developing its worldwide network over the past 37 years.

“K” Line will further expand stable earning structure from long-term contract and contribute to stable supply of energy. 

^(※)X-DF engine is dual-fuel engine which uses gas admitted at low pressure.

〔Main Particulars of the Vessel〕