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April 12, 2005
Kawasaki Kisen Kaisha, Ltd.

"K" Line concludes VLCC Charter Contract

Kawasaki Kisen Kaisha, Ltd. ("K" Line) has concluded a time charter contract with Idemitsu Tanker Co., Ltd. for the building of a new VLCC, which is scheduled for completion at the Kawasaki Shipbuilding Corporation in December 2006.

"K" Line's VLCCs currently in service include contract agreements for three vessels for Showa Shell Sempaku K.K. and one vessel for Nippon Global Tanker Co., Ltd. The charter contract being signed this time brings to five the number of vessels for which we have charter contracts with Japanese domestic oil companies.

All "K" Line's VLCCs have a double hull structure, and the fleet is state-of-the-art, with an average vessel age of 2.5 years. In addition to the cargo pump rooms which form the double bottom structure of the four "K" Line vessels currently in service, the two VLCCs, to be completed at the Kawasaki Shipbuilding Corporation in 2006 and 2007, will have fuel oil tanks with a double hull structure, making them even more environmentally conscious.

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


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