“K” LINE and MISC win time charter contracts for pair of newbuild LCO2 carriers

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) is pleased to announce that Northern Lights JV DA (Northern Lights) has awarded the consortium of “K” LINE and Malaysia’s MISC Berhad (MISC) a time charter contract for one newly built 12,000 m3 liquefied CO2 carrier.

“K” LINE has signed the contract with Northern Lights and will jointly own the new vessel with MISC. This new vessel will be constructed by Dalian Shipbuilding Offshore Co., Ltd. “K” LINE and MISC will be awarded an additional contract for another newly built liquefied CO2 carrier in April 2026.

 The two new vessels will be for phase 2 of the Northern Lights Project, and these vessels will be engaged in international CO2 transportation within Europe.

 Since 2022, “K” LINE has entered into Bare Boat Charter and Time Charter contracts for three 7,500 m3 liquefied CO2 carriers (including vessel pictured) with Northern Lights, which commenced operations in 2024. Through these operations, “K” LINE has contributed to the establishment of the CCS (carbon capture and storage) value chain in Europe. The new two vessels reflect the recognition that “K” LINE has received for its extensive experience in liquefied gas shipping and its proven track record of safe and reliable operations in the Northern Lights Project.

“K” LINE says it will be involved in the operation of five of the eight liquefied CO2 carriers for phases 1 and 2 of the Northern Lights Project, the latest contracts further strengthening the partnership between the two companies.

Takenori Igarashi, Director, President & CEO of “K“ LINE, said: “Following our management of three vessels in phase 1 of the project, we are delighted to participate in the ownership and operation of the vessel for phase 2. In phase 1, we established operational procedures and accumulated expertise in liquefied CO2 transportation. By joining forces with our partner MISC Berhad, with whom we also collaborate in the LNG carrier business, we will leverage our combined knowledge to provide safe and reliable liquefied CO2transportation and contribute to the advancement of decarbonization in Europe.”