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"K" Line

Delivery of ‘Corona’ Series Coal Carrier “CORONA SPLENDOR”

February 25, 2014 by

Kawasaki Kisen Kaisha, Ltd., Tokyo, (hereafter called “K” Line) is proud to announce the delivery of “CORONA SPLENDOR”, an 88,000 DWT-type special coal carrier at Marugame Shipyard of Imabari Shipbuilding Co., Ltd., Japan on February 25th, 2014.

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

With this new latest deployment, the Corona-series has consisted of 17 carriers.

“K” Line takes pride that its Corona-series has been so favourably evaluated for always ensuring customers steady and reliable thermal coal transport service with maximum safety.

 

Vessel’s Specifications:

LOA:     229.98M

Beam:     38.00M

Depth :    19.90M

Full Draft :     13.904M

Deadweight Tons :     89,006MT

Gross Tons :      49,720T

Net Tons :      28,533T

Hold/Hatch :     5/5

 

 

Filed Under: "K" Line

CKYHE Alliance to be established: Evergreen to join existing partners

February 20, 2014 by

COSCO, K LINE, YANGMING, HANJIN and EVERGREEN LINE are pleased to announce that the five parties have agreed in principle to establish a shipping alliance.  To be operational only on the trades between Asia and Europe, including the Mediterranean region, it will be called the CKYHE Alliance.

The lines intend to formally begin the new Alliance as of 1st March 2014 subject to compliance with the relevant regulations. The CKYHE will commence operations in mid April with six joint services operating between Asia and Northern Europe and four loops dedicated to the Asia-Mediterranean route.

The members of CKYHE have agreed to continuously review services on the Asia-Northern Europe and Asia-Mediterranean trades in order to optimize their efficiency and to enhance their service quality in terms of network coverage. The lines’ customers will benefit from a better quality of service in terms of transit times and service frequency.

Operational efficiencies will also strengthen the Alliance members’ effective environmental stewardship.  The lines have a commitment to cleaner shipping, which they understand their customers value highly.  The Alliance will continue to pursue measures to minimize bunker consumption via ‘eco-slow steaming’ and to reduce CO2 emissions.

Filed Under: "K" Line, Evergreen Line

2014 New Year Message from President Asakura

January 6, 2014 by

January 6, 2014

 

Completing the “Bridge to the Future” , our 3-year Management Plan

Let me start by wishing our stakeholders and all the members and their families of the “K” Line Group a Happy New Year. As we embark on a new chapter in 2014, I would like to take this time to reflect on the past year and offer a look forward to the challenges ahead.

In 2013, the global economy modestly trended toward recovery, driven by the more developed economies, mainly the US. Although consumer spending did not make a full-fledged recovery, the US housing market and automobile sales exhibited their highest levels of growth seen in the past five years, and the stock market climbed to an all-time high. Meanwhile, the EU’s economy, after enduring prolonged sluggishness, touched bottom at long last, returning to positive growth for the first time in three years. Emerging economies, such as China and India, which provided catalysts for global economic recovery after the collapse of Lehman Brothers, experienced some slowdown from their previous high level of growth. After undergoing a correction phase, these emerging economies are expected to switch to a stable and sustainable growth trajectory.

Looking at economic trends in Japan, the yen underwent some correction from its excessive strength owing to bold monetary easing policies and flexible fiscal policies implemented by the Abe administration, which took office at the end of 2012. In addition, the Tokyo stock market recorded the highest annual growth among global stock markets. These were the first positive signs for the Japanese economy in a long time. Moreover, news of Tokyo’s successful bid to host the 2020 Olympic Games, a major topic in 2013, reinvigorated Japan’s enthusiasm, which had been somewhat dampened since the Great East Japan Earthquake.

We plan to announce our 3Q FY2013 financial results and 4Q estimates at the end of January. The structural reforms, which have been underway since 2012, are gradually delivering favorable outcomes. We also saw larger-than-expected benefits from a reduction in fuel costs as a result of company-wide initiatives to expand eco slow steaming. Since FY2012, we have achieved current account to surplus owing to the fruits reaped from these types of companywide measures. Our earnings have now recovered to a level such that in FY2014, the final year of our Bridge to the Future plan, we expect them surpass levels posted in the past two years.

In our current three-year management plan, I outlined management’s commitment to protecting the company from a collapse of the marine transport market. However, from this point onward, I want to focus on policies for taking the steps necessary to move from a protective to an offensive approach. Global political and economic scenes are undergoing major transformations each year. In the same way, various industries cannot avoid reforms in technology and intensified competition. Kawasaki Kisen is no exception. We are exposed to relentless international competition on a daily basis. In light of these factors, it is crucial that we make radical changes to our traditional structure and methods to remain in the race. I hope to leverage your strengths and competencies to take our company in a better direction starting in 2014.

As a first step in our offensive management strategy, we decided to resume investments in our strengths in 2013. We announced plans to build eight car carriers, with a maximum capacity to carry 7,500 cars. In the Dry Bulk Business, we are positively moving forward with the construction of a large iron ore carrier and coal carrier, which has a 25% improved fuel economy, in comparison with existing ships. In the Energy Transportation Business, we acquired contracts for three LNG carriers in 2013, and in the New Year, we are expecting to secure contracts for a shale gas-related transport project that is currently under negotiation. In the Containership Business, in the first half of 2013, we decided to build five 14,000 TEU ULCVs (Ultra Large Container Vessels). We placed our orders at the best time possible. These cutting-edge vessels will all be in the water from 2015 to 2016, and I am confident they will contribute to a major recovery in earnings.

Also, in our new management plan, we prioritize the fortification of our logistics business in Asia and Oceania, and the offshore energy E&P support business, in regions such as the North Sea and Brazil. The logistics business takes time to generate profit but we believe that, coupled with demand in Asia, where growth is pronounced, we can develop this into a core business in ten years by expanding operations in accordance with a long-term strategy.

In the offshore energy E&P support business, we plan to establish a structure that will facilitate the active entry into fields that require a high level of technology and expertise—offshore support vessels, drillships, FPSOs, and subsea construction vessels. In this manner, we are determined to never remain content with our present situation, and we are constantly moving forward, forging ahead step-by-step.

Last but not least, I would like to end my New Year’s message by emphasizing the following.

From 2013, the “K” Line Group has engaged in the work-life balance movement to eliminate long work hours. At this stage, we have yet to see any positive results. All the executives of the “K” Line Group share in the idea that the sense of fulfillment one gains from attaining a healthy work-life balance is the source of one’s energy and vitality. In the new fiscal year, I would like to take this movement to the next level and produce results without fail. Although this too is a very basic issue, it is also extremely important. I would once again like to ask that everyone make sure they fully adhere to legal compliance mandates. There are those statutes and regulations that should be obeyed as an adult. However, I am referring to laws and social standards, including those which regulate competition and prevent corrupt business practices, that must obeyed by all means in the course of conducting your work duties. I have previously spoken about this on several occasions but would like to mention it once again. Please undertake your tasks without forgetting to conform to laws and regulations, in other words compliance, which is the fundamental requirement for all corporate activities.

In closing, I wish all the members of the “K” Line Group and their families good health and happiness, and pray for the safe passage of all our ships.

President & CEO

Jiro Asakura

President Asakura

 

 

 

 

 

 

 

Filed Under: "K" Line

“K” Line to Invest in Four (4) Additional Next Generation Car Carriers

December 30, 2013 by

KAWASAKI KISEN KAISHA, LTD. (“K” Line) is pleased to announce it has just decided to order four (4) additional new next generation car carrier vessels on top of its recent identical 4-vessel shipbuilding contracts placed with Shin Kurushima Dockyard Co. Ltd and Japan Marine United Corporation.  In total, each company will be building four new “K” Line next generation car carriers, respectively, with delivery starting in 2015 and continuing through the first quarter of 2017.

By adding this series of eight new ships with better stability of the vessel and better fuel efficiency, we continue to deliver value added efficiency and capability of handling an even wider variety of cargo mix to assure our services successfully meet the needs of our valued customers in order to be best suited for not only passenger cars but also other RORO cargoes.

Existing Large size PCC

Next Generation PCC

L.O.A

about 200 m

about 200 m

Beam

about 32.2 m

about 37.0 – 38.0 m

Cargo Capacity

about 6,200 units

about 7,500 units
Filed Under: "K" Line

“K” Line, NYK, MOL, and SCI Reaches LNG Long-term Time Charter for one LNG Carrier with Petronet LNG

December 3, 2013 by

Kawasaki Kisen Kaisha Ltd.

Nippon Yusen Kabushiki Kaisha

Mitsui O.S.K. Lines Ltd.

The Shipping Corporation Of India

“K” Line, NYK, MOL, and SCI Reaches LNG Long-term Time Charter for one LNG Carrier with Petronet LNG

-Contract for Construction of a Carrier for Gorgon LNG Project-

 

A consortium comprising Kawasaki Kisen Kaisha, Ltd.(“K” Line), Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), and the Shipping Corporation of India (SCI) has announced an agreement with Delhi–based Petronet LNG Limited (PLL) for a long-term time charter of a new liquefied natural gas (LNG) carrier having a capacity of 173,000 m3. At the same time, the consortium concluded an agreement with Hyundai Heavy Industries Co. Ltd. (Headquarters: Ulsan, South Korea) to build the vessel.

 

PLL is India’s first importer of LNG, and since 2004 has imported 5 million tons of LNG a year from Qatar, and an additional 2.5 million tons per year since 2009, using three LNG carriers. The new LNG carrier will be employed in the Gorgon LNG Project.

 

The four-company consortium that won the contract for the new carrier also operates the three vessels already in service, and will continue to ensure a steady supply of LNG to India, where energy demand continues to grow.

 

Outline of Charter Contract

Date and place of contract signing December 2, 2013; Delhi, India
Owner India LNG Transport Company (No. 4) Private Limited (Headquarters: Singapore), new JV by “K” Line, NYK, MOL, and SCI
Charterer Petronet LNG Limited
Charter period 19 years after launch of the new LNG carrier (September 2016)
Vessel One new membrane-type LNG carrier (173,000 m3)
Shipbuilder Hyundai Heavy Industries Co. Ltd.
Ship management SCI

 

 

(Reference) Outline of Petronet LNG Project

Buyers: Petronet LNG Limited (PLL)

(Main shareholders)

GAIL (India) Limited  (GAIL) 12.5%
Bharat Petroleum Corporation Ltd. (BPCL) 12.5%
Indian Oil Corporation (IOC) 12.5%
Oil & Natural Gas Co. Ltd. (ONGC) 12.5%
GDF International (part of GDF Suez) 10.0%
Asia Development Bank (ADB) 5.20%

*The remaining percentage (about 35%) is publicly held

GAIL: India’s largest national gas company, holding a 95% share of the Indian gas market
BPCL: India’s third largest national petroleum refinery and sales company
IOC: India’s largest national petroleum refinery and sales company
ONGC: National crude oil and natural gas extraction and refining company
   

 
 

Seller:

  

Ras Laffan Liquefied Gas Company Ltd. II (RasGas II)

Gorgon LNG Project (sales contract with ExxonMobil holding 25% of stock)
   

LNG purchasing volume/period:

 (RasGas II)

5 million tons per year, 2004–2027

2.5 million tons per year, 2009–2034

(Gorgon LNG Project)

1.44 million tons per year, for 20 years after the beginning of supplying

 
LNG discharging port: Dahej Port, Gujarat State of India

Kochi Port, Kerala State of India
Filed Under: "K" Line

“K” Line to Support Ocean Transportation of Mathematics Education Kits for Children in the Republic of South Africa

November 26, 2013 by

November 26, 2013

Kawasaki Kisen Kaisha, Ltd. (“K” Line) is proud to announce that it has been awarded a Certificate of Appreciation by Embassy of the Republic of South Africa in Japan

“K” Line has been supporting the volunteer activities of SAPESI (South African Primary Education Support Initiative) to improve the quality of primary education in the Republic of South Africa by providing ocean transportation of educational tools and books for children in the country free of charge.

On November 25, at Embassy of the Republic of South Africa in Tokyo, “Bon Voyage Ceremony” of Mathematics Education Kits for elementary schools in South Africa has been held. At the ceremony, Certificates of Appreciation have been awarded by Ms. Nosicelo Mbele, Minister Plenipotentiary, to supporters of the project to present those kits to South Africa, including “K” Line. This time, “K” Line is carrying about 130 sets of arithmetic tools, 190 English books, and 10 sets of white magnetic boards from Yokohama to Durban.

Other than mathematical education kits from Japan, “K” Line has been supporting “Mobile Library Project” promoted by SAPESI by providing free ocean transportation of English books for children in South Africa from around the world since 2011.

“K” Line continues contribution to society through its core business, ocean transportation.

Filed Under: "K" Line

“K” Line to Support Typhoon Victims in the Philippines

November 21, 2013 by

November 21, 2013

Kawasaki Kisen Kaisha, Ltd. (“K” Line) has today announced that, in order to give relief to victims of Super Typhoon “Haiyan” and support disaster recovery efforts, it has decided to donate 5 million yen (approx. 50,000 US dollar) through The Rayomar Outreach Foundation Inc. (ROFI*), a charitable institution founded by Rayomar Group, “K” Line’s business partner in the Philippines, as well as to provide seafarers, their families, and students of maritime academies with financial support. At the moment, the estimated amount of the donation and the financial support is around 20 million yen (approx. 200,000 US dollar) in total.

In addition, “K” Line has decided to provide transportation of emergency relief supplies to the country free of charge by its containerships from Japan in conjunction with the Japanese Shipowners’ Association (JSA).

The typhoon that hit mid Philippines on November 8 brought great deal of damages to the country.

The Philippines is the largest supplier of seafarers in the world, and a number of Filipino seafarers are on board vessels operated by “K” Line.

“K” Line would express its most sincere sympathy to all those affected by the typhoon and hopes its support may be of any help for the soonest recovery of the damaged area.

*ROFI is a charitable institution to support a livelihood, medical care and education, as well as to as to collect donation and to support volunteering activities.

 

 

For further information, please contact:

Toshiaki Takasaki

Manager, CSR & Compliance Division

Kawasaki Kisen Kaisha, Ltd. Tokyo

TEL: 81-3-3595-5092 FAX: 81-3-3595-6076

Filed Under: "K" Line

“K” Line announce Financial Highlights for 2nd Quarter of F2013

November 6, 2013 by

31st October 2013

 

On behalf of our client Kawasaki Kisen Kaisha Ltd, (“K” Line) we are pleased to send you notification of their Financial Highlights for the 2nd quarter of F2013.

English version

This is also available to download from their website : http://www.kline.co.jp/en/

  • Difference in Financial Results from Projections, Revised Forecast of Financial Results – http://bit.ly/HrfXdv

For further information, please contact:

Makoto Arai

General Manager, IR & PR Group

Tel:  +81-3-3595-5189  Fax: +81-3-3595-5001

Filed Under: "K" Line

“K” Line Continues to be Included in FTSE4Good Global Index and Dow Jones Sustainability Asia / Pacific Index

October 17, 2013 by

In addition, “K” Line has also been selected as an Asia / Pacific Index component  company of the Dow Jones Sustainability Indices (DJSI) (*3) three years in a row since 2011.

Global companies satisfying international standards for corporate, environmental and social responsibility are selected as members of these prestigious Indices.

“K” Line always strives to reduce environmental impact, strengthen corporate governance and support communities in which it operates as a good corporate citizen.

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

*2 FTSE is an independent company wholly owned by the London Stock Exchange Group. It is a global leader in indexing and analytical solutions. FTSE’s indices measure multiple markets and asset classes in more than 80 countries.

*3 DJSI is an SRI index that RobecoSAM of Switzerland and investment advisory company S&P Dow Jones of the U.S. offers together.

 

Filed Under: "K" Line

Delivery of ‘Corona’ Series Coal Carrier “CORONA ROYAL”

October 3, 2013 by

 

Kawasaki Kisen Kaisha, Ltd., Tokyo, (hereafter called “K” Line) is proud to announce the delivery of “CORONA ROYAL”, an 88,000 DWT-type special coal carrier at Marugame Shipyard of Imabari Shipbuilding Co., Ltd., Japan on October 2nd, 2013.

CORONA ROYAL is the same type as “K” Line’s specialized fleet for transport of thermal coal known as the “Corona-series”. The Corona-series, which “K” Line originated and continues to develop, consists of epoch-making coal carriers equipped with wide beam and shallow draft, which are the most suitable type to enter ports of domestic Thermal Power Stations todischarge cargo.

With this new latest deployment, the Corona-series consists of 16 carriers. “K” Line takes pride that its Corona-series has been so favorably evaluated for always ensuring customers steady and reliable thermal coal transport service with maximum safety.

Vessel’s Specifications

 LOA

229.98M

  Deadweight Tons

88,887MT
 Beam

38.00M

  Gross Tons

49,762T
 Depth

19.90M

  Net Tons

28,540T
 Full Draft

13.904M

  Hold/Hatch

5/5

 

Corona Royal - Coal Carrier Oct 13

Filed Under: "K" Line
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