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K Line confirms new Taiwan shipping JV
Kawasaki Kisen Kaisha (K Line) today confirmed a Splash exclusive, revealing details of a new Taiwanese shipping joint venture. The Japanese shipping major has teamed with two Taiwanese shipowners, U-Ming and Kuang Ming, and utility Taiwan Power Company (Taipower) to create a new company that will own both coal and LNG carriers.
The NT$1bn ($32.3m) company is expected to launch in October next year. Taipower will hold a 40% share of the new company, U-Ming 32.5%, Kuang Ming 20% with K Line holding a 7.5% share.