K Line inks agreement for new LNG carrier

Kawasaki Kisen Kaisha (K Line) has executed a shipbuilding contract with Kawasaki Shipbuilding Corporation for a 145,000m3 LNG carrier scheduled for delivery in 4th quarter of 2007. The company has also signed a time charter agreement for a period up to 10 years with the Swiss company J&S Cheniere S.A.. This vessel will be K Line?s first solely owned and operated LNG tanker and will bring its LNG fleet to 32 vessels, including 8 managed by the K Line group.

J&S Cheniere will utilize the vessel to serve their LNG terminals to be built in the US and other terminals to fulfill the increasing demands for worldwide LNG trading.