Japanese shipping company Kawasaki Kisen Kaisha (K Line) has reached an agreement in principle with India’s state-owned natural gas company GAIL and J M Baxi Group regarding the joint ownership of a liquefied natural gas carrier.
The vessel is currently being built by Samsung Heavy Industries in South Korea and is scheduled to enter service under a long-term time charter with GAIL once it is delivered.
The vessel is expected to be delivered in 2027. Vessel specifications provided by the company include a length overall of approximately 290 metres and a beam of 45.8 metres. The ship features a tank capacity of 174,000 cubic metres and a two-stroke propulsion system, with a design speed of 19.5 knots (36.1 km/h).
This ownership arrangement follows a previous long-term time charter contract between K Line and GAIL that was announced on December 2, 2024.
K Line noted that it also has an established record of collaboration with J M Baxi Group within the Indian market through various logistics operations and agency services.
K Line stated that this initiative is part of a management strategy of acquiring opportunities in future growth markets such as Asia. The company noted it will continue to expand its long-term contracts to meet energy demand in the region.
