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October 18, 2005
Kawasaki Kisen Kaisha, Ltd.

"K" Line concludes VLCC Charter Contract

Kawasaki Kisen Kaisha, Ltd. ("K" Line) has concluded a time-charter contract with ExxonMobil, the world's biggest oil major, for a brand-new VLCC, which is scheduled for completion at the Kawasaki Shipbuilding Corporation in June 2007.

"K" Line's VLCCs currently in service include time-charter contracts of three vessels for Showa Shell Sempaku K.K. and one vessel for Nippon Global Tanker Co., Ltd. In addition, we have concluded a time-charter contract with Idemitsu Tanker Co., Ltd. for another brand-new VLCC with delivery at the Kawasaki Shipbuilding Corporation in December 2006. The charter contract with ExxonMobil brings to six the total of all VLCCs under time-charter contract with major Japanese and overseas oil companies.

The two VLCCs to be completed at Kawasaki Shipbuilding Corporation in 2006 and 2007 will have fuel oil tanks with double-hull structure in addition to the cargo pump rooms having double-bottom structure, another reflection of how conscientious "K" Line is in doing its part to protect the world's environment.

"K" Line will continue striving to develop a fleet that meets the needs of our customers.

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