"K" LINE Starts Collaborative Research on Decarbonization with JSW Steel Ltd.

September 7, 2022

Kawasaki Kisen Kaisha, Ltd. ("K" LINE) is pleased to announce that we signed the Memorandum Of Understanding with JSW Steel Ltd. (JSW) for establishing the working committee for collaborative research on decarbonization.

"K" LINE and our affiliated company "K" Line (India) Shipping Private Limited (KISP) have been engaging in seaborne transportation of the raw materials for JSW ("K" LINE since 2006 and KISP since 2014).

Today, our transport volume of iron ore, coal, limestone etc. is reaching about 10 million ton per annum by Supramax upto Capesize bulkers and performing both coastal and international trades. (Note 1)

JSW and "K" LINE agreed to collaborate together through the sharing of research, ideas, utilising and leveraging on the respective party's knowledge about new marine technology, alternative fuels and other fields potentially growing in the near future, so as to achieve Net-Zero Green House Gas emissions in marine transportation by 2050.

In our Medium-term Management Plan published on May 2022 (Note2), "K" LINE defined marine transportation business by large vessel as one of the top priority areas for driving growth.

We will continuously strive to enhance our corporate value by contributing to the sustainable development of the society and global environment through active collaborations on decarbonization through the development of partnership with customers.

Images by Kawasaki Kisen Kaisha, Ltd.

(Note 1) Released on August 1st, 2022: "K" LINE Group Signed Multiple Consecutive Voyage Contracts with JSW Steel Ltd.

(Note 2) Released on May 9th, 2022: Medium-term Management Plan: https://www.kline.co.jp/en/ir/management/strategy.ht

Kawasaki Kisen Kaisha, Ltd. press release