U-Ming, Taipower, K Line and Kuang Ming in coal and LNG shipping jv

U-Ming, Taipower, K Line and Kuang Ming are to form a joint venture to ship coal and LNG.

The four companies - Taiwan Power Co (Taipower), U-Ming Marine Transport Corp, K Line, and Kuang Ming Shipping Corp – have inked a Memorandum of Understanding(MoU) to form a new joint venture to own coal and LNG carriers for the transport of raw materials for Taipower.

The joint venture is scheduled to start business in October 2020 with Taipower holding a 40% stake, U-Ming 32.5%, Kuang Ming 20% and K Line 7.5%. The joint venture will have paid up capital of TWD$1bn ($32.2m). The joint venture will be located in Taipei.

K Line said it would provide know-how in ship management and safe ship operations to the joint venture.

Posted 01 July 2019

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Marcus Hand

Editor, Seatrade Maritime News

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