Kawasaki Kisen, Ltd. (“Kawasaki Kisen”) and its consolidated subsidiary Kawasaki Kinkai Kisen, Ltd. (“Kawasaki Kinkai Kisen”; collectively with Kawasaki Kisen, the “Companies”) hereby announce that the Companies, at their respective Boards of Directors meetings held this day, adopted a resolution for a share exchange (the “Share Exchange”) whereby Kawasaki Kisen and Kawasaki Kinkai Kisen will .
Establishment of “K” Line Wind Service, Ltd. for Offshore Support Vessel Operation
Kawasaki Kisen Kaisha, Ltd, and Kawasaki Kinkai Kisen Kaisha Ltd. are pleased to announce the agreement to establish a joint venture company (“K” Line Wind Service, Ltd) for the purpose of providing marine related services for offshore wind power business
1. Target and Purpose of “K” Line Wind Service, Ltd.
Japanese Government has announced its Green Growth Strategy for carbon neutrality by 2050. Offshore wind power is a prerequisite to the decarbonization of the electricity sector and it started to promote its supply chain development.
“K” Line Wind Service is established for the target of contributing to offshore wind power development and carbon neutrality of the society by gathering the whole “K” Line group’s worldwide experience and expertise in the offshore vessel operations. “K” Line Wind Service will provide offshore support vessel services with 150T bollard pull A