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"K" Line to invest in new Chinese repair yard

"K" Line to invest in new Chinese repair yard

Tokyo: Kawasaki Kisen Kaisha, Ltd is to become 'primary strategic partner' and take a 5% stake in a new shiprepair yard under construction in China - Titan Quanzhou Shipyard Ltd (TQSL) being built outside Quanzhou City in Fujian Province by Hong Kong-based Titan Petrochemicals Group Ltd.
TQSL will total area of 110ha with 3,600m length of coastline. Upon full completion in 2010, it will be the largest modern-designed repair dock in China with capacity of 250 vessels per year, equipped with four ultra-large dry docks (two of which can accommodate 300,000dwt class VLCC or VLOC), two slipways, ten repair berths, painting workshop and mechanical-electrical workshop.

The TQSL project commenced in 2004, aiming to be a shipyard based on repair, newbuildings and offshore engineering, and since operation in 2006 with its first newbuilding, it has delivered four 7,000-9,000dwt class bunker-tankers. Repair operations will commence in mid-2009 at repair berths as floating dock and will be in full operation from 2010.

By entering into the agreement with TQSL "K" Line has secured repair slots for its increasing fleet, especially for large-sized vessels. TQSL, with is favorably located in a warm year-round climate, will accommodate all types of vessels and is expected to enjoy an extremely high utilization ratio.  [05/08/08]