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"K" Line

Delivery of ‘Corona-Series’ Coal Carrier “CORONA UTILITY”

January 13, 2016 by

Kawasaki Kisen Kaisha, Ltd., Tokyo, (hereafter called “K” Line) is proud to announce the delivery of “CORONA UTILITY,” an 88,000 DWT-type special coal carrier at Marugame Shipyard of Imabari Shipbuilding Co., Ltd., Japan on January 13, 2016

“CORONA UTILITY” is the same type as “K” Line’s specialized fleet for the transportation of thermal coal, known as the ‘Corona-series’. The Corona-series consists of epoch-making coal carriers equipped with a wide beam and shallow draft, which are the most suitable design to enter ports of Japanese Thermal Power Stations to discharge cargo.

With this new latest deployment, the Corona-series now consists of 19 carriers. “K” Line takes pride that its Corona-series has been so favorably evaluated for continuously ensuring the steady and reliable thermal coal transport service with maximum safety for their customers.

Vessel’s Specifications
LOA 229.98M Deadweight Tons 88,847MT
Beam 38.00M Gross Tons 49,721T
Depth 19.90M Net Tons 28,535T
Full Draft 13.904M Hold/Hatch 5/5
Filed Under: "K" Line

2016 New Year Message from “K” Line Group President Murakami

January 4, 2016 by

“Enhancing Individual Strengths to become a Globally Trusted Corporate Group”

To everyone of the “K” Line Group, I extend to you my sincerest wishes for a Happy New Year.Murakami, Eizo - President & CEO

As we enter 2016, I would like to take this opportunity to reflect on the past year and offer a look forward to the challenges ahead.

Although 2015 opened amid concerns of a return by the Greece-sparked European economic crisis, the economies of the developed countries actually remained relatively firm. Indeed, Europe rebounded on the back of falling oil prices, a weak Euro, and a policy of quantitative easing. The United States also saw its consumer spending and housing market gain stability as its employment picture improved.

On the other hand, poor economic performance in emerging markets acted as a drag on growth. There was a clear economic slowdown in China, which is attempting to deal with overinvestment and surplus capacity, and falling resources prices cast a shadow on the economies of Brazil and Russia. The result was a murky picture for the world economy as a whole.

Looking at the international framework, there were conspicuous instances in which countries reached out to each other. A general agreement was reached for the Trans-Pacific Strategic Economic Partnership Agreement (TPP) after more than five years of negotiation, and the United States and Cuba took steps to renew diplomatic ties and normalize relations for the first time in 54 years. At the same time, however, there were heightened geopolitical concerns as extremist organizations hostile to the international community stepped up their activities throughout a broad area.

Because the “K” Line Group plays an important role in global logistics, we cannot ignore such international economic trends or circumstances.   Our medium-term management plan, “ (“K” Line) Value for our Next Century,” which we launched in April of last year, sets a course for raising our corporate value. Its aim is to secure “financial stability” that cannot be shaken, even in the midst of the environmental changes described above, and then to strengthen our “growth potential” in response to expanding and diversifying international logistics demand.

During the first half of this fiscal year, we benefitted from falling fuel oil prices and a continually weakening yen. At the same time, however we were exposed to tough market conditions, particularly in our Containership and Dry Bulk businesses, as the cargo movement fell below expectations while supply pressure on shipping capacity was intensified. Nonetheless, a number of our businesses showed steady performance. They included our Car Carrier Business, which, in addition to the movement of completed cars, is advancing initiatives aimed at heavy construction equipment and rail cars with the use of the latest large energy-saving vessels; our Energy Transportation Business centered on LNG carriers, large LPG carriers, and tankers, which provides stable income based on medium- and long-term contracts; and our Logistics Business, which is expanding its operations in various regions. Accordingly, our overall earnings exceeded initial estimations despite being influenced by fluctuations in foreign exchange-related profit and loss. However, given stagnating resources demand in China and other regions as well as rising geopolitical risks, the business environment continues to be uncertain in the second half. We anticipate that some more time will be required before we see full-scale market recovery.

In response to this changing business environment, we are taking steady steps forward in line with the scenarios detailed in our medium-term management plan. We will formulate and execute streamlining measures with agility. And we will stay on schedule with strategic investment aimed at growth in energy transportation and other sectors, as well as in investment to expand our base for stable earnings with the introduction of the latest large energy-saving vessels. As we respond flexibly to future changes in the environment, we will remain focused on our basic policy and committed to the steady promotion of our plan.

Any effort to drive business forward toward a common goal requires the foundation provided by a strong organization. Because such an organization is ultimately comprised of individuals, when those individuals enhance their capabilities and improve the quality of their work, they help the organization demonstrate its full power. Above all, having the ability to gather great amounts of information, arrange it, and use it to anticipate future events is a vital part of business promotion, even in everyday operations. Although the “K” Line Group has always emphasized human resources development, I would like to see us put even more effort into the development of individuals who possess knowledge and expertise. I hope that each one of us will view the New Year as an opportunity to take stock of our own abilities and improve them.

The year 2015 marked a new start for the “K” Line Group. This start was based on a reexamination of our corporate philosophy and vision and renewed verification of what it is we want to be. We formulated our medium-term management plan as an action plan for the actual application of this philosophy and vision, and we are taking steps to improve our corporate culture and climate through the “”K”-no-Kaze” (“K” Line Wind) program. Additionally, we prepared a long-term policy for environmental conservation—called “Environmental Vision 2050”—to fulfill our responsibility to minimize our impact on the global environment. Early next month, DRIVE GREEN PROJECT, construction of a car carrier equipped with state-of-the-art technologies and designed to achieve the highest level of energy savings and environment-friendliness, is scheduled to be completed. I believe this new vessel will become symbolic of our ideal of “contributing to affluent living as a globally trusted corporate group.”

The safe operation of this vessel and compliance with the law are of paramount importance in our effort to truly be a “globally trusted corporate group.” In addition to being our responsibility to society, safe operation forms the foundation upon which we continually gain our customers’ trust. It also has important environmental aspects. At the same time, all of our corporate activities are built on compliance with laws and social norms. I hope that everyone will constantly bear in mind the fact that any failure of compliance can upset the foundation of our group’s business.

Additionally, we are implementing measures to prevent or reduce cases of long working hours. Through a combination of company-led initiatives and improvements in work quality and productivity by individual employees, I want to reduce working hours and tie the benefits to a better work-life balance.

Over the course of 2016, we will continue to execute our medium-term management plan and other important business plans and activities. Let us move forward steadily, unwaveringly, and with full attention to our goals.

In closing, as we celebrate the New Year, I wish all of you, the members of the “K” Line Group, and your families good health and prosperity, and pray that all of our ships will enjoy safe passage throughout 2016.

Eizo Murakami

President & CEO

Filed Under: "K" Line

“K” Line’s New LNG Carrier for Chubu Electric Named “BISHU MARU”

December 1, 2015 by

Kawasaki Kisen Kaisha, Ltd. (“K” Line) held a naming ceremony for the newly-built liquefied natural gas (LNG) carrier (*1) for Chubu Electric Power Co., Inc. (Chubu Electric) at Sakaide Shipyard of Kawasaki Heavy Industries, Ltd. (KHI) today.

The new vessel was given her name “BISHU MARU” by President & Director Satoru Katsuno of Chubu Electric, the Charterer.

“BISHU MARU” comes from the name of an old district in western Aichi Prefecture named “Owari” where an LNG receiving terminal of Chubu Electric is located. In addition, she is the second generation with this name which was handed down from an earlier LNG carrier, the first to have been managed by a shipping company in Japan, which was also managed by “K” Line and completed at the Sakaide Shipyard of KHI in 1983 as well.

“BISHU MARU” will mainly serve on the transportation route between Australia and Japan after delivery, and is expected to contribute to stable transportation of energy in Japan which her predecessor faithfully carried out for many years.

“K” Line is dedicated to contribute in meeting the expanding needs of LNG transportation with a view to simultaneously developing a more stable earnings structure as a part of our medium-term management plan “(“K” Line) Value for our Next Century” that was newly introduced earlier this year.

Main Particulars of the Vessel:

Charterer Chubu Electric
Construction Yard KHI Sakaide Shipyard
LOA About 293m
Beam 48.9m (*2)
Tank Capacity 164,700m3
Boil Off Rate (*3) 0.08% per day
Propulsion System Reheat Steam Turbine (Kawasaki Advanced Reheat Turbine Plant) (*4)
Speed 19.5 Knot

 

(*1) Please refer to the press release on March 29, 2013：

“K” Line to enter Long-Term Time Charter and Construction of LNG Carrier to serve Chubu Electric

 

(*2) Allowable width to pass through the Panama Canal after the expansion.

(*3) Boil Off Rate (BOR)： Ratio of natural vaporized gas against maximum tank capacity to indicate capability of tank heat-insulation system.

(*4) Reheat Turbine Plant： Next-generation LNG carrier propulsion plant of high thermal efficiency and high reliability, incorporating the most advanced materials and control technologies including improvements in steam conditions to raise the thermal efficiency.

Filed Under: "K" Line

Establishment of K LINE SHIPPING & LOGISTICS L.L.C

November 9, 2015 by

On 25 October 2015, we “K” Line established a new company called K LINE SHIPPING & LOGISTICS L.L.C (hereafter “KLSL”) in Dubai, UAE, and KLSL has started its operations. KLSL is a joint venture between “K” Line and Sharaf Group (*1) and is the first company to operate in the Middle East among the subsidiaries of Japanese shipping companies. KLSL will conduct businesses in the fields of marine transportation, land transportation and logistics, etc. and the company will develop new businesses actively through the networks of “K” Line and Sharaf Group (*2).

Outline of New Company in Dubai

Name of Company :  K LINE SHIPPING & LOGISTICS LLC

Business Scope ： Marine transportation, logistics, land transportation, air cargo transportation, warehousing and supply chain solutions.

Representatives of the Company ： Takashi Kodera, Director & General Manager;  Kazutaka Imaizumi, Director & Chairman;   Ibrahim Sharaf, Director & Vice Chairman

(*1) Sharaf Group was established in 1976 by Mr. Ibrahim Sharaf and Mr. Sharafuddin Sharaf and is now an established business house in Dubai, United Arab Emirates. Its number of employees across the group is over 11,000. Sharaf Group is doing businesses in many industries, and they include shipping agency (Sharaf Shipping Agency), logistics (Sharaf Logistics and Emirates Logistics), retail business, travel agency (Sharaf Travel) and Sharaf Exchange.

(*2) Sharaf Group has offices in Middle East, Indian Sub-Continent, Red Sea, African Continent, Europe, Far East /South East Asia, Russia and Australia and representative offices in Japan, Korea, China and Europe.

 

Filed Under: "K" Line

Voyage Cancellation Plan for Asia-North Europe and Mediterranean Loops in Winter Season

November 4, 2015 by

CKYHE Alliance (COSCO, “K” Line, Yang Ming, Hanjin Shipping & Evergreen) is to implement a service adjustment on the Asia – North Europe and Mediterranean trade in order to cope with the seasonal market demand.

The CKYHE members will cancel a total of 9 voyages on the current Asia-North Europe/Mediterranean service loops from November 2015 through December 2015.

For details of updated schedule, please contact carrier’s local agent or visit the website of the relevant CKYHE line.

The CKYHE Alliance will continue providing excellent weekly services covering major ports connecting Asia and North Europe and Mediterranean regions.

Details of the cancelled voyages are as follows:

Asia-North Europe Services

45th week, NE7 (ETA Ningbo, Nov.04)

46th week, NE8 (ETA Taipei, Nov.08)

48th week, NE7 (ETA Ningbo, Nov.25)

51st week, NE8, (ETA Taipei, Dec.13)

51st week, NE7, (ETA Ningbo, Dec.16)

 

Asia-Mediterranean Services

47th week, MD2 (ETA Xiamen, Nov.15)

48th week, ADR (ETA Qingdao, Nov.26)

49th week, MD2 (ETA Xiamen, Nov.29)

51st week, MD2 (ETA Xiamen, Dec.13)

Filed Under: "K" Line, Evergreen Line

“K” Line supports Ocean Transportation of Fire Engines and Ambulances to Republic of El Salvador

November 4, 2015 by
151104 Transportation of vehicles to El Salvador #1

(Center) Ms. Martha Lidia Zelayandia, Ambassador to Japan, Republic of El Salvador (Right) Mr. Koichiro Hara, Chairman of Japan-El Salvador Association (Left) Mr. Kunio Okumura, Assistant to Honorary Consul of El Salvador in Japan, “K” Line (on behalf of Mr. Hiroyuki Maekawa, Honorary Consul of El Salvador in Japan)

Kawasaki Kisen Kaisha, Ltd. (“K” Line) is providing free ocean transportation of three fire engines and two ambulances, donated by Japan Firefighters Association, to the Republic of El Salvador.

As part of its international support programme, the Japanese Firefighters Association has donated fire engines, previously used in Japan, to help with improvements to fire defense systems in developing countries. On this occasion it has donated five vehicles to El Salvador.

Since assuming charge as Honorary Consul of El Salvador since 1969, this is the third opportunity for “K” Line to transport donated vehicles to the country for free; previously in October 2014 and April 2015 it transported 4 vehicles in total.

A departure ceremony was held on October 21, with Ms. Martha Lidia Zelayandia, Ambassador of El Salvador to Japan, and Mr. Koichiro Hara, Chairman of Japan-El Salvador Association, in attendance.

On October 29, with the cooperation of Daito Corporation, an affiliate company of “K” Line,　 the five vehicles where loaded onto “K” Line’s pure car carrier (PCC) at Yokohama and departed for the port of Acajutla, El Salvador where they will arrive in late November.

This year sees the 80th anniversary of the establishment of diplomatic relations between El Salvador and Japan. “K” Line hopes the vehicles it transported may contribute to the reinforcement of fire defense and lifesaving systems in the country and cordial relations between two countries may develop further.

Filed Under: "K" Line

“K”Line Signs Time Charter of VLGC with Gyxis Corporation

September 30, 2015 by

Kawasaki Kisen Kaisha, Ltd. (“K”Line) is pleased to announce that it has reached an agreement with Gyxis Corporation (Gyxis) to enter into a Time Charterer contract of a new 82,200m3 VLGC to be built and delivered by Kawasaki Heavy Industries, Ltd in November 2018.

Gyxis, established on April 1, 2015, is focusing on expanding overseas sales as well as domestic sales. In order to meet this purpose, Gyxis is promoting expansion of its VLGC fleet. This new VLGC will be “K”　Line’s second VLGC under Time Charter contract with Gyxis.

“K” Line now operates 4 VLGCs and 1 VLGC being newly-built, and this latest agreement will expand its fleet to 6 VLGCs. As a part of our medium-term management plan “ Value for our Next Century,” “K” Line will continue to contribute to meet the expanding needs of LPG transportation utilizing the latest technology combined with established knowledge and know-how from its more than 40 years of LPG transport experience.

Gyxis Corporation

A newly-established company that started business from April 1, 2015, integrating import and wholesale LPG operations of four companies comprised of Cosmo Oil Co., Ltd, Showa Shell Sekiyu K.K., Sumitomo Corporation, and TonenGeneral Sekiyu, K.K.

Capital  : 11 billion yen

Shareholders & Ownership  : Cosmo Oil Co., Ltd (25%), Showa Shell Sekiyu K.K. (25%) and Sumitomo Corporation (25%), TonenGeneral Sekiyu K.K. (25%)

Sales Volume: 

Domestic  :  Approx. 3 million tons

Overseas :  Approx. 1 million tons

Filed Under: "K" Line

“K” Line Continues to be Selected as an Index Component of the Dow Jones Sustainability Asia/Pacific Index

September 14, 2015 by

September 11, 2015

Kawasaki Kisen Kaisha, Ltd. (“K” Line) has been selected again as an Asia/Pacific Index component company of the Dow Jones Sustainability Indices (DJSI), one of the leading global indices on Socially Responsible Investment (SRI)(*1). It has been selected for 5 consecutive years since 2011.

DJSI is a world’s leading SRI index jointly offered by S&P Dow Jones Indices LLC of the United States and Robeco SAM AG of Switzerland, which only includes the top ranked companies among the largest 3,000 companies worldwide as a result of evaluation of their sustainability performance in terms of social, environmental and economic criteria. Launched in 1999, DSJI is one of the first global sustainability benchmarks for investors and fund managers who integrate sustainability consideration into their portfolios.

As a global logistics company group centering on shipping business, “K” Line always strives to contribute to realize the better society and increase the corporate value.

*1 SRI (Socially Responsible Investment) describes an investment strategy which takes account of enterprises’ social, ethical and environmental aspects as well as financial performance.

Filed Under: "K" Line

“K” Line Provides Aid for Promotional Events in the US in support of Tohoku region, Japan

August 12, 2015 by

August 12, 2015

Kawasaki Kisen Kaisha, Ltd. (“K” Line) has announced that it has provided free ocean transportation of festival decorations that will be used at sightseeing and product promotion events in California, United States, which will be held by six prefectural capitals in Tohoku region, Japan.

These events will be held with the aim of attracting tourism from foreign countries and expanding markets for local products of Tohoku, which was seriously affected by the great east Japan earthquake in 2011,. “K” Line has decided to provide free ocean transportation for the events as part of its support for the reconstruction of the region.

The festival decorations will be used at two events being held in Los Angeles County. One is the 75th NISEI WEEK JAPANESE FESTIVAL on 15 – 16 August in Little Tokyo, and the other is the 2nd RISING TOHOKU FOOD FAIR IN L.A from 20 – 23 August in Torrance.  “K” Line hopes the success of these events will result in improved awareness and tourism for the Tohoku region and interest and demand for its local produce.

Filed Under: "K" Line

“K” Line Receives Awards for Vessel Speed Reduction Program from both the ports of Los Angeles and Long Beach

August 10, 2015 by

Kawasaki Kisen Kaisha, Ltd. (“K” Line) received awards for achievement of high compliance rate for their vessel speed reduction programs from both the ports of Los Angeles and Long Beach in 2014.

The Port Authorities have implemented the vessel speed reduction programs asking vessels to comply with the speed limit of 12 knots within the designated coastal sea area in order to reduce emissions of exhaust gas when arriving to or sailing from the ports. “K” Line is commended for their voluntary participation in both programs as a shipping company whose vessels call at both ports.  We were awarded by these programs as one of the top performers, based on our total of 170 ships, representing 323 qualifying legs within 40 nautical miles (about 74 kilometers) during 2014 in both ports.

This year, we were awarded the “Vessel Speed Reduction Program” from the Port of Los Angeles for the 7th consecutive year, and “Green Flag Program” from the Port of Long Beach the for the 10th consecutive year, both since the Programs commencement.

The “K” Line Group is making every possible effort to successfully implement its own environmental program, as well as cooperate with any other environmental preservation objectives being introduced by other parties, and will continue to actively contribute to protection of the global environment.

Filed Under: "K" Line
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