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October 28, 2002
Kawasaki Kisen Kaisha, Ltd.

"K" LINE Commences Own Service with 3 LR II Product Tankers

Kawasaki Kisen Kaisha, Ltd., Tokyo, (hereafter called "K" LINE) is pleased to announce that three LR II type (DWT 105,000 k/t) double-hulled product tankers will commence operations under our own control.

Our LR II fleet consists of two sister-ships, "River Spring" and "River Dream," that were built in 1997 plus their younger sister "Glory Crystal" built in 2000 that is being time-chartered from a Japanese Owner.

In the current world market, about 50 LR II product tankers are being operated, 70 % of them under control of mid- to long-term contracts with trading houses, cargo receivers or shippers or under control of European owners' pool, the remaining 30% operated in spot market. In line with this situation, our intention is to provide flexible transportation service with a reliable and effective combination for COA cargo and spot cargo, designed to successfully respond and satisfy customer needs in the main trade from Middle East to Far East/Southeast Asia.。




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