“K” Line, Taipower, U-Ming, And Kuang Ming Signs MoU To Establish JV

“K” Line, Taipower, U-Ming, And Kuang Ming Signs MoU To Establish JV

On July 1, in Taipei, Taiwan Kawasaki Kisen Kaisha, Ltd. (hereafter “K” Line), Taiwan Power Company (hereafter Taipower), U-Ming Marine Transport Corporation (hereafter U-Ming), and Kuang Ming Shipping Corporation (hereafter Kuang Ming) have agreed to establish a new joint venture shipping company, and jointly signed Memorandum of Understanding(MoU). In the joint venture, they will own both coal and LNG carriers and operate them for the transportation of raw materials to Taipower.

“K” Line has accumulated a lot of experience and specialized skills in terms of managing and transporting coal and LNG. “K” Line said that it will devote themselves in contributing to the safety of Taiwan’s energy requirements by providing their many years of accumulated knowledge regarding ship management and safe ship operations to this new joint venture.

Overview of Joint Venture Company

  1. Name:- To be decided
  2. Date of establishment :- October 2020 (planned)
  3. Location:- Taipei, Taiwan
  4. Business activities:- Ownership and operation of coal and LNG carriers
  5. Capital:- NT$1 billion (approximately 3.6 billion yen)
  6. (6) Investment ratio:-
    • Taipower: 40.0%
    • U-Ming: 32.5%
    • Kuang Ming: 20.0%
    • “K” Line: 7.5%

Reference: kline.co.jp

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