Japan's K Line has established a joint venture to clinch a panamax contract in Malaysia.
It has teamed up with Halim Mazmin Group (HMG) to own a Malaysian-flagged bulker with a long-term consecutive voyage deal with TNB Fuel Services.
A total of four Malaysian owners have won term contracts in the tender, K Line said.
Its own panamax will carry 1.5m tons of steaming coal per annum from Indonesia, South Africa or Australia to Malaysia for 10 years from this September.
TNB
