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K Line in tanker newbuild orders with KHI and Namura

K Line in tanker newbuild orders with KHI and Namura
In a boost for Japanese shipbuilders Kawasaki Kisen Kaisha (K Line) has ordered three VLCCs and two aframax newbuildings.

K Line said it had ordered two VLCCs from Kawasaki Heavy Industries (KHI) for delivery in 2017 and 2018. The vessels will be built KHI’s joint venture yard in China, Nantong Cosco KHI Ship Engineering. K Line ordered a further VLCC at Namura Shipbuilding for delivery in 2018.

Meanwhile K Line’s Singapore shipowning arm K Line Pte Ltd ordered to aframax tankers from Namura Shipbuilding for delivery in 2018 and 2019.

K Line did not disclose the price of newbuildings. However, the orders come at a time when shipbuilders are desperate to secure new orders to keep their docks busy from 2018 onwards.

Ship broker Fearnelys puts the average price of VLCC newbuilding at $88m and an aframax at $48m.

K Line said the orders were in line with its newly reformed medium term management plan entitled – “value for our next century – action for the future”.