K Line has established a joint venture company owning Malaysian-flag panamax vessel with Halim Mazmin Group (HMG) in order to participate in a tender for long-term contract with TNB Fuel Services Sdn Bhd (TNBF), and a subsidiary company of HMG has signed one long-term consecutive voyage charter contract with TNBF.
TNBF has signed five long-term contracts with four Malaysian Shipping Companies in this tender.
Image courtesy: K Line
The co-owned panamax vessel will transport 1.5 million ton of steaming coal per year from Indonesia or South Africa or Australia to Malaysia consecutively for 10 years from September of 2016.
Tenaga Nasional Berhad (TNB) is the largest power utility company in Malaysia and has its total generating capacity of about 11,000 mW which is one of the largest generation capacity in South-East Asia.
TNBF is a subsidiary of TNB and supplies coal and fuel to the TNB Generation.
HMG is a group of companies operating ship owning, flight training academy, maritime university and tourism established by Tan Sri Halim Mohammad.
Source: K Line