Digitalisation, decarbonisation are central to K Line’s medium-term management plan

Also in these mid-term plans are strategies and targets to reduce the group’s environmental impact and greenhouse gas (GHG) emissions.

K Line has revised its environmental vision for the third time since its formulation in 2015 and now expects to reach net zero for GHG emissions across scope 1, 2 and 3 by 2050.

The shipping group also “set an interim target of improving scope 1 CO2 emissions efficiency by 40% from the 2024 level by 2035.”

K Line is working on initiatives, including voyage and vessel optimisation and using insights from data analysis and AI, to achieve the interim goal.

To reach net zero in 23 years, K Line will also need to implement carbon-zero fuels, electrification of operations and work with partners to minimise GHG emissions.

K Line’s new medium-term management plan covers the period of 2027 to 2031 and intends to “redefine shipping” while expanding its the core marine transportation business into adjacent fields such as maritime industry, logistics, offshore energy and various supply chains.

“K Line will combine businesses and functions to enhance the value and achieve improvement in competitiveness and profitability,” said the company.

It will work “to optimise capital allocation through growth investment and shareholder returns, while ensuring financial soundness.”

“K Line will pursue profit growth and capital efficiency improvement as two key pillars and aim to enhance corporate value,” the ship operator said.