“K” Line purchases share of Chinese shipyard to secure repair slots

“K” Line purchases share of Chinese shipyard to secure repair slots

“K” Line purchases share of Chinese shipyard to secure repair slots

“K” Line has purchased a 5 percent stake in Titan Quanzhou Shipyard Ltd., a shipyard under construction in a suburb of Quanzhou City, Fujian Province by Titan Petrochemicals Group Ltd.
   The stake in the shipyard, which opened in 2006 and is due for completion in 2010, will allow the Japanese carrier to secure repair slots for its increasing fleet, particularly its larger vessels.
   When completed, TQSL will be the largest repair dock in China, with capacity for 250 vessels per year, four ultra-large dry docks, two slipways, 10 repair berths, a painting workshop and mechanical-electrical workshop. Since opening two years ago, it has delivered four 7,000 to 9,000-deadweight ton class bunker-tankers. Repair operations will begin in mid-2009 and the floating dock will be in full operation from 2010.