K Line, GAIL India, and JM Baxi to jointly own LNG carrier

Kawasaki Kisen Kaisha (K Line) has agreed in principle with GAIL (India) Limited and JM Baxi Group on the joint ownership of an LNG carrier. Samsung Heavy Industries is currently building the vessel.

The ship will enter service under a long-term time charter with GAIL upon delivery. The three partners held a signing ceremony during India Energy Week in Goa on January 27. Shri Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, attended the event.

The initiative forms part of K Line’s strategy to acquire opportunities in future growth markets such as Asia. The company outlined this approach in its Medium-Term Management Plan.

K Line concluded a long-term time charter contract with GAIL on December 2, 2024. The Japanese shipping line has maintained a long-standing collaboration with JM Baxi in the Indian market. The partnership includes agency services and logistics operations.

Strengthening Asian Market Position

K Line aims to strengthen relationships with both companies through joint vessel ownership. The company will continue pursuing new business opportunities, particularly in the Asian region.

GAIL (India) Limited is India’s largest state-owned natural gas company. The partnership positions K Line to respond to growing energy demand in the region.

K Line plans to expand its long-term contracts in the LNG carrier business. The company will accommodate increasing demand by responding to diverse customer needs.

Vessel Specifications

Samsung Heavy Industries will deliver the vessel in 2027. The LNG carrier measures approximately 290 meters in length with a beam of 45.8 meters.

The ship features a tank capacity of 174,000 cubic meters. It uses a 2-stroke propulsion system and operates at a speed of 19.5 knots.