Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has agreed in principle with GAIL (India) Limited (GAIL)*1 and J M Baxi Group (J M Baxi), our business partner in India, on the joint ownership of an LNG carrier currently under construction by Samsung Heavy Industries Co., Ltd. Upon delivery, the vessel is scheduled to be put into service under a long-term time charter with GAIL. The three partners held a signing ceremony during India Energy Week in Goa on January 27 that was attended by the honorable Shri Hardeep Singh Puri, the Minister of Petroleum and Natural Gas of the Government of India.

This initiative is part of our strategy“Acquiring opportunities in future growth markets such as Asia” identified in our Medium-Term Management Plan.*2 “K” LINE concluded a long-term time charter contract with GAIL, which was announced on December 2, 2024, and has it has an established long-standing track record of collaboration with J M Baxi in the Indian market through agency services and logistics operations. By jointly owning the vessel, “K” LINE aims to further strengthen its relationships with both companies and continue to pursue the development of new business opportunities, particularly in the Asian region.
“K” LINE will continue to expand its long-term contracts and accommodate the growing demand for energy by responding to the diverse needs of its customers in the LNG carrier business.
Source: Kawasaki Kisen Kaisha, Ltd.