| August 26, 2004 | ||||||||||||||||||||||||||||||||||||||||||
"K"LINE inks agreement with J&S Cheniere S.A. for new 145,000 m3 LNG Carrier |
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| Kawasaki Kisen Kaisha, Ltd. ("K" Line) announced the execution of a shipbuilding contract with Kawasaki Shipbuilding Corporation for a 145,000m3 LNG Carrier (*) scheduled for delivery in 4th quarter of 2007. The company has also executed a time charter agreement for a period up to 10 years with J&S Cheniere S.A. (**). This vessel will be "K" Line’s first solely owned and operated LNG Carrier and will bring its LNG Carrier fleet to 32 vessels, including 8 managed by the "K" Line group. | ||||||||||||||||||||||||||||||||||||||||||
| This 145,000m3Moss type LNG Carrier to be built by Kawasaki Shipbuilding Corporation is compatible with many major existing LNG terminals in the world. J&S Cheniere S.A., as the charterer, will utilize the vessel to serve their LNG receiving terminals to be built in the US and other terminals to fulfill the increasing demands for worldwide LNG trading. | ||||||||||||||||||||||||||||||||||||||||||
The global demand for LNG continues to grow rapidly, especially in Europe and the US; and corresponding to a growing interest in the Atlantic basin, "K" Line has established offices in London and Houston where a number of experts are exclusively working for LNG projects. Taking advantage of these networks already established in the Atlantic, the company will step up its endeavors to further strengthen its transport capabilities and will flexibly and positively respond to the increasing and diversified global LNG shipping demands. |
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| (*) Ship Particulars: | ||||||||||||||||||||||||||||||||||||||||||
| LOA: Approx 289.5 m | ||||||||||||||||||||||||||||||||||||||||||
| Breadth: Approx 49 m | ||||||||||||||||||||||||||||||||||||||||||
| Cargo tank capacity: 145,000m3 | ||||||||||||||||||||||||||||||||||||||||||
| Builder: Kawasaki Shipbuilding Corporation | ||||||||||||||||||||||||||||||||||||||||||
| (**) J&S Cheniere S.A.: | ||||||||||||||||||||||||||||||||||||||||||
| J&S Cheniere (Switzerland) was incorporated in 2003 as a joint venture between J&S and Cheniere Energy Inc. (USA), for the purpose of trading LNG worldwide. J&S Holding Limited (www.jandsgroup.com/us/main.html) is a privately-owned company, active through its various subsidiaries, predominantly in 4 segments of the world energy markets: crude oil & oil refined products, petrochemical products, liquefied natural gas and electricity. Cheniere Energy Inc. (www.cheniere.com/) is a Houston-based developer of LNG receiving terminals and a Gulf of Mexico E&P company. Cheniere Energy Inc. is developing Gulf Coast LNG receiving terminals near Sabine Pass, LA and near Corpus Christi, TX. Cheniere is also a 30% limited partner in Freeport LNG Development, L.P., which is developing an LNG receiving terminal in Freeport, Texas. | ||||||||||||||||||||||||||||||||||||||||||
| For further details, please contact: | ||||||||||||||||||||||||||||||||||||||||||
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