Shanghai-based Tai Chong Cheang Group (TCC Group) has launched a joint venture with Japan’s Kawasaki Kisen Kaisha, Ltd (K Line) by signing a Shareholders Agreement and a contract for the construction of a 182,200 mt Capesize newbuilding by Imabari Shipbuilding Co., Ltd.
The joint venture named TK50 to mark 50 years of collaboration between the companies was formally established in Hong Kong on October 28.
Commenting on the joint venture, “K” Line Representative Director, President & CEO Jiro Asakura said: “K Line’s long relationship with the TCC Group dates back to the 1960’s and has always been underpinned by three ‘ships’ – Friendship, Partnership and Relationship. The joint venture aims to pool the strengths and shared values of our two organizations to provide quality international bulk transport services for prime customers. It is our wish that the TK50 joint venture will be the platform, not just for cooperation in drybulk shipping, but will also expand over time to other strategic areas where the best practices and competitive advantages of TCC and ‘K’ Line would be shared and harnessed in close business partnership.”