Japan's K-Line has signed a long-term time charter with Chubu Electric Power for a new 164,700m3 Moss type LNG, which will be built at Kawasaki Heavy Industries (KHI) Saikade Shipyard. It is scheduled for delivery towards the end of 2016.
K-Line already executed previous long-term Time Charter contract for a vessel having identical specifications with Chubu Electric in April 2013, and this contract for second vessel is based on subsequent contract following that for the first vessel.
A statement on the company's website said: K-Line is committed to continuing to contribute to, and help meet, expanding global needs of LNG transportation utilizing the best knowledge and network established during its more than 30 years of LNG transport business experience since delivery of S.S. "Bishu Maru" in 1983. Our goal is to simultaneously develop a more stable earnings structure adopted as part of our newly-reformed medium-term management plan "Bridge to the Future".