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February 6, 2003
Kawasaki Kisen Kaisha, Ltd.

"K" LINE PTE LTD. Starts Aframax-type Tanker Service

"K" LINE PTE LTD., Singapore, (hereafter called KLPL) is pleased to announce that it has taken over the Aframax-type crude oil tanker business from its parent company, Kawasaki Kisen Kaisha, Ltd., Tokyo, effective from January this year.

KLPL has started Aframax-type tanker business with a 5-vessel fleet, Singapore River, Century River, Rainbow River, Taiyoh I, Taiyoh III, in Japan-Asia-Australia-Pacific area, and during the next 3 years, will be expanding its fleet to 10 vessels. KLPL has already arranged to charter in one double-hulled new tanker from Tai Chong Cheang Steamship, Hong Kong, for March 2003. Its fleet is enabling KLPL to develop this business into a good combination of COA and spot cargo with confidence that, as a first-class tanker operator, customers can be assured of being provided with the most trustworthy and highest quality sea-transport service possible. KLPL will expand its customer base in Southeast Asia area utilizing the geographical advantage of its location in Singapore.

KLPL's newest Aframax tanker 'Singapore River'

KLPL's newest Aframax tanker "Singapore River"

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