Japanese shipowner K Line has signed a long-term time charter for a single LNG carrier newbuilding with trader Mitsubishi Corp’s Singapore-based company Diamond Gas International (DGI).
K Line said on Monday that it signed a 15-year deal on the vessel on 12 May.
The contract includes an option to extend the deal by up to 10 years.
K Line said it had also ordered a 174,000-cbm LNG carrier newbuilding that will be fitted with a low-speed ME-GA propulsion system at Samsung Heavy Industries in South Korea.
In early April, TradeWinds named K Line as the shipowner behind a two-ship LNG carrier order at SHI.
The shipbuilder’s announcement priced the vessels at about $258.5m each and said both ships will be delivered by November 2026.
At the time, the yard did not name the owner behind the ships and K Line declined to comment.
K Line said today: “This is the first long-term time charter contract between DGI and K Line involving a newly built vessel.”
The shipowner said the vessel is set to be trading globally from the start of the second half of 2026.
The company, which has been working in the LNG sector for 40 years, highlighted that its medium-term management plan published in May 2022 put the LNG business as one of its top priority areas for future investment.
“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,” it said.
