Japanese shipping major K Line is to invest in LNG and bulker vessels over the next four years as part of a strategy that will see the company reduce the size of its container shipping fleet from 70 vessels to 61.
Despite the decrease in vessels, the TEU capacity of K Line's container fleet will increase with the sale and scrapping of smaller ships and the introduction 10, 14,000 TEU boxships that are currently on order.
K Line also unveiled its dry bulk carrier fleet will increase from 218 to 239 by 2019, as the group plans for this sector to bring 50% of all the revenue. A significant increase is planned in the LNG sector with the company adding 18 vessels to its exising fleet of 43, including the 164,700m3 Moss type LNG on order from KHI, due in 2016.
Further expansions to K Line's fleet include the addition of 6 Panamax bulkers and two car carriers by 2019, bringing the total number of vessels in its fleet to 564