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K Line targets more FPSO business with Yinson and Sumitomo

Japan’s Kawasaki Kisen Kaisha (K Line) is joining compatriot Sumitomo Corporation and Malaysia’s Yinson Holdings, taking a 10% stake in an FPSO project, Marlim II, off Rio de Janeiro for Petrobras. 

Three years from now, the FPSO is planned to start working the Marlim oil and gas field revitalisation project, which is operated by Petrobras and situated 150 km off the Brazilian coast in the Campos Basin.

Petrobras has agreed to a 25-year charter for the FPSO.

This project represents K Line’s second FPSO business following the offshore Ghana oil and gas field development project based on the partnership with Yinson and Sumitomo, in which the company participated in 2018.

K Line said today it intends to expand its FPSO work with Yinson and Sumitomo as a core business.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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