Top > News Releases > "K"Line Partners with EnerSea Transport to Complete EnerSea's Maritime Triumvirate for Compressed Natural Gas Marine Transport

July 23, 2002
Kawasaki Kisen Kaisha, Ltd.
EnerSea Transport LLC
Kawasaki Kisen Kaisha, Ltd.

"K"Line Partners with EnerSea Transport to Complete EnerSea's Maritime Triumvirate for Compressed Natural Gas Marine Transport

Houston (July 22, 2002) - EnerSea Transport LLC (EnerSea) and Kawasaki Kisen Kaisha, Ltd. ("K"Line) have joined forces to complete EnerSea's strategic maritime team. As a "world leading" gas ship owner and operator, "K"Line will contribute its operational and marine resources to further the development and eventual deployment of EnerSea's VOTRANS™(Volume Optimized Transport and Storage) System.

"With "K" Line as EnerSea's ship owner/operator and Hyundai Heavy Industries (HHI), as our ship builder (previously announced), we have created the perfect path to our ultimate goal of developing stranded gas and delivering gas to energy hungry markets. Creating a new industry for CNG demands "world-class" partners that have a history of innovation and proven success in developing large-scale gas transport projects. I am extremely pleased with the qualifications of our Maritime Team and the successful commencement of work required to commercialize VOTRANS," stated Paul Britton, EnerSea's Managing Director.

"K"Line's Hisashi Yasui, Director said, ""K"Line will lead the industry as owner and operator of EnerSea's next generation of gas ships. "K"Line's operations expertise will be put to good account for this epoch-making technology and provides a key element of EnerSea's maritime strategy. EnerSea's innovative and leading technology coupled with "K"Line's capabilities and financial strength will be successful in transforming natural gas transportation. Our well established relationship with HHI will also allow the team to accelerate efforts to complete this exciting project."

"K"Line is a Tokyo based corporation owning and operating about 300 vessels of various types. At present "K"Line owns 22 LNG carriers with 5 newbuilds on order and has the financial capability to develop these large CNG projects.

HHI, the largest ship builder in the world, accounts for 15% of the global shipbuilding market, and has built 41 gas-carrying vessels (LNG & LPG) to date and is in the process of building an additional 13 similar vessels. HHI recently delivered the seventh of a series of Container vessels to "K"Line.

EnerSea and "K"Line have also committed to the American Bureau of Shipping (ABS) as its Classification Society to work towards ‘Class Approval in Principle' for EnerSea's VOTRANS design.

The Houston based maritime broker, Lone Star R.S. Platou & Braemar Inc (LST) is the broker and consultant for EnerSea and was instrumental in creating this maritime triumvirate.

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