Noble and K Line tie the knot

Hong Kong: Noble Chartering, the dry bulk chartering arm of Hong Kong commodity trader Noble Group, and Japan’s Kawasaki Kisen Kaisha, Ltd (“K” Line) have announced the signing of an agreement to commercially operate several capesize bulk carriers. A new company (K Noble Hong Kong) will run the joint venture out of the former British colony which will be comprised of a pool of capesizes, starting July 2012.

“The venture is a natural consequence of the close relationship between the “K” Line Group and Noble that dates back several years, and follows a number of successful dry bulk projects between the companies,” K Line said in a release.

K Line’s move follows on from compatriot Mitsui OSK Lines dramatic announcement this week that it will scrap or cold lay up to 20 capes.

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