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September 20, 2002
Kawasaki Kisen Kaisha, Ltd.

"K" LINE Places Orders for Two 107,000 DWT Type Aframax Tankers

Kawasaki Kisen Kaisha, Ltd., Tokyo, (hereafter called "K" LINE) is pleased to announce that we have placed an order for two additional Aframax tankers with Imabari Shipbuilding Co., Ltd., that are to be completed in 1st Quarter 2004 and 2nd Quarter 2005, respectively.

Our 100% owned subsidiary "K" Line Pte Ltd (KLPL) which will be taking over the Aframax tanker business from "K" LINE starting from January 2003, will be expanding our present fleet of 5 vessels to 10 during the next three years including the above-mentioned newbuildings.

We are very confident that with the addition of the above double-hulled Aframax tankers to our present fleet, KLPL will be able to develop our Aframax tanker business into a good combination of COA and spot cargo, and as a first-class tanker operator we are confident of providing our customers with the most trustworthy and high quality sea-transport service possible in S. E. Asia, Australia and Far East Asia region.
Furthermore, the above double-hulled newbuildings will increase the percentage of double-hulled veesels in our fleet, thereby ensuring safety against oil-spill accidents.

Loa 246.80M Deadweight Tons 107,000MT
Beam 42.00M Gross Tons 58,000T
Full Draft 14.80M
sister vessel RAINBOW RIVER

sister vessel RAINBOW RIVER


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