K Line's 10-year charter

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jan 2008

KAWASAKI Kisen Kaisha says it has fixed a capesize bulker on a 10-year consecutive voyage charter (CVC) agreement with Korea Western Power (KOWEPO).The charter period starts in the second half of 2011 and is for ''transportation of bituminous coal for electric power generation, from Australia, South Africa, Indonesia and Canada to South Korea.''KOWEPO is one of six South Korean electric power generation companies owned by Korean Electric Power Corporation, or KEPCO, with current coal generation capacity of 4,000MW (mega watts) besides oil, LNG and hydropower generation (8,800MW in total), and imports approximately 12 million metric tonnes of bituminous coal per annum.The agreement is the second CVC with KOWEPO for K Line which also secured a 10-year CVC for a panamax bulk carrier in May last year.