| December 15, 2004 |
|
| "K"Line and Yara Agree on Long-Term
Charter |
| |
| Kawasaki Kisen Kaisha, Ltd. ("K"Line) concluded a
long-term time charter of two Gas Carriers with Yara. "K"Line also concluded
Shipbuilding Contracts for these two 38,000 cubic meter, fully refrigerated Ammonia/LPG
Carriers with Daewoo Shipbuilding & Marine Engineering Co., Ltd. of South Korea. These
are "K"Line’s first contracts for this type of Gas Carrier. |
| As ammonia has similar characteristics of LPG, "K"Line has
sought for business opportunity in the segment of Medium-sized Gas Carriers where
"K"Line is capable of utilizing their shipping expertise accumulated in LPG
and LNG transportation. |
| World demand for ammonia is expected to grow steadily in the
future for fertilizers and other industrial uses. "K"Line will endeavour to
strengthen their position in worldwide Ammonia/LPG transportation. |
| |
| Yara is the world’s leading supplier of mineral fertilizers
and the only truly global player in the industry. This leadership position is, amongst
others, based on ammonia, where Yara’s combined strengths in production, trade, maritime
storage and shipping are providing an unequalled platform for value creation. |
|
| Vessel particulars are as follows: |
| |
| LOA |
: Approx 180 m |
| Breadth |
: Approx 29.2 m |
| Capacity |
: Approx 38,000 m3 |
| Builder |
: Daewoo Shipbuilding & Marine Engineering Co., Ltd |
|
| |
| For further details, please contact: |
| |
| Kawasaki Kisen Kaisha, Ltd. Tokyo, Tanker Group |
| Akira Otsu, General Manager |
Tel |
: 81-3-3595-5400 |
| Yoshihide Tanaka, Manager, LPG Team |
Tel |
: 81-3-3595-5498 |
|
Fax |
: 81-3-3595-5599 |
|