Kawasaki Kisen Kaisha, Ltd. (“K” Line), Taiwan Power Company (Taipower), U-Ming Marine Transport Corporation (U-Ming), and Kuang Ming Shipping Corporation (Kuang Ming) have agreed to establish a new joint venture shipping company.
The JV partners have jointly signed Memorandum of Understanding（MOU）in Taipei, Taiwan on July 1. This new joint venture will own both coal and LNG carriers, and operate them for transporting these raw materials to Taipower.
“With respect to managing and transporting coal and LNG, “K” Line has accumulated an abundance of experience and specialized skills. We, therefore, will devote ourselves to contribute to the safety of Taiwan's energy requirements by providing our many years of accumulated know-how in ship management and safe ship operations to this new joint venture,” K Line said in its press release.