K Line seals LNG carrier charter deal with Mitsubishi’s Diamond Gas

Japan’s shipping giant K Line has signed a long-term deal to charter a newbuild LNG carrier to Mitsubishi Corporation’s unit Diamond Gas International.

K Line said in a statement on Monday that the 15-year long charter contract has an option for up to 10 additional years.

According to K Line, it has also concluded a shipbuilding contract with South Korea’s Samsung Heavy Industries on May 12 for a 174,000-cbm LNG carrier.

The firm will take delivery of the 290 meters long ME-GA LNG carrier in the second half of 2026.

This is the first long-term time charter contract between Diamond Gas and K Line involving a newly built vessel.

LNG Prime reported in April, citing shipbuilding sources, that K Line has ordered two LNG carriers at Samsung Heavy. These two vessels are scheduled for delivery by November 2026.

In its medium-term management plan published in May 2022, K Line has positioned the LNG business as one of its top priority areas for future investment.

According to its website, K line is operating a fleet of 44 LNG carriers but the shipping firm also aims to have about 40 LNG-powered vessels in its fleet by 2030 as part of the company’s plans to slash emissions.

The firm said in the statement it will continue to expand its long-term contracts and accommodate the growing demand for energy by responding to the diverse needs of its customers.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Shell ships first LNG Canada cargo

LNG giant Shell and its partners have shipped the first cargo produced at the LNG Canada facility in Kitimat, on the west coast of Canada.

Samsung Heavy cancels LNG carrier contract with Russia’s Zvezda

South Korean shipbuilding giant Samsung Heavy Industries has terminated contracts for 10 ice-class Arc7 LNG carriers and seven shuttle tankers with Russia's Zvezda.

Steel cut for Cedar’s FLNG in South Korea

South Korea’s Samsung Heavy Industries has officially started building Cedar LNG's floating LNG production unit, which will be installed in Kitimat, on Canada’s West Coast.

Basalt adds another LNG carrier to its fleet

UK-based infrastructure investment firm Basalt Infrastructure Partners has added the 180,000-cbm LNG carrier, Celsius Galapagos, to its fleet.