K-Line enters into Long-Term Time Charter with Petronas LNG Ltd. for Two Newbuilding LNG vessels

February 10th, 2020

Kawasaki Kisen Kaisha, Ltd. (K-Line) is pleased to announce the signing of a long-term Time Charter contract of 12 years plus 12 years (Extension Option) from 2022, which havebeen concluded with PETRONASLNG Ltd., a subsidiary of Petroliam Nasional Berhad (PETRONAS). K-Line has also executed Shipbuilding contracts for 79,960m3 LNG carriers with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong).

These are the first long-term Time Charter contracts between PETRONAS and K-Line with new-building vessels. These two vessels will be equipped with X-DF (*) engine.

PETRONAS, a fully integrated oil and gas company and also aglobal LNG producer with over 35 years of experience, provides an uninterrupted supply of LNG to more than 25 countries around the world.PETRONASis also the first global energy player to introduce the floating LNG concept in 2016. These two newbuilding vessels willengage in transportation of LNG from Malaysia (Bintulu) to Shenergy (Group) Co., Ltd., China, from 2022.

Since the delivery of S.S. "Bishu Maru" in 1983, the first LNG carrier owned by any Japanese shipping company, K-Line has been establishing safety/expertise on LNG transportation and developing its worldwide networkover the past 37years.K-Linewill further expand stable earning structurefrom long-term contract and contribute to stable supply of energy.

(*) X-DF engine is dual-fuel engine which uses gas admitted at low pressure

Main Particulars of the Vessel

Kawasaki Kisen Kaisha, Ltd. press release