Japan’s Kawasaki Kisen Kaisha (K Line) has agreed in principle with India’s state-owned natural gas company GAIL (India) Limited (GAIL) and J M Baxi Group (J M Baxi) on the joint ownership of an LNG carrier currently under construction by Samsung Heavy Industries.

The 174,000 m3 vessel is expected for delivery from the shipyard in 2027.

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 India’s minister of petroleum and natural gas Shri Hardeep Singh Puri.

K Line concluded a long-term time charter contract with GAIL, which was announced on December 2, 2024.

The plan is for this new vessel to be engaged in LNG transportation for GAIL beginning in 2027. This is the first long-term time charter contract between GAIL and K Line involving a newly built vessel.

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.