| February 15, 2006 |
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| Delivery of 140,000 cbm type LNG carrier "Arctic
Discoverer" |
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| Kawasaki Kisen Kaisha, Ltd. ("K" Line) is pleased to
announce the successful delivery of its brand new 140,000 cbm type LNG carrier "Arctic
Discoverer", constructed at Mitsui Engineering and Shipbuilding’s Chiba Works in Japan.
The vessel is co-owned with Statoil, Mitsui & Co. and Iino Kaiun and will be chartered
to "Snøhvit Sellers" consisting of Statoil and other first-class energy companies for
a period of 20 years*. |
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| The vessel was specifically constructed to lift cargoes from
the world’s northernmost LNG development "Snøhvit" project in which LNG will be
produced from fields located in the Barents Sea to be exported to Spain and US
(approximately 4.2 million tons per annum). This project represents a milestone for "K"
Line’s participation in the North Atlantic trade and also its first operation in arctic
conditions. "Arctic Discoverer" has been specially designed to operate in such
extremely harsh environment and will maintain the highest safety and environmental
standards throughout the charter period. |
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| 3 LNG carriers in total will be delivered to serve this
project and "Arctic Discoverer" will be the first of the 2 to be operated by "K"
Line Group. 2nd vessel is currently under construction at Kawasaki Shipbuilding
Corporation’s Sakaide Works also in Japan, scheduled to be delivered in June 2006. "Arctic
Discoverer" is the sixth LNG vessel to be managed by "K" Line Group and will bring
its LNG carrier fleet to 30 in total. |
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| Newly established "K" Line LNG Shipping (UK) Ltd.,
headquartered in London, will be responsible for the daily ship management of these
vessels and will provide safe, reliable, cost-effective and environmentally friendly
management services following "Al Thakhira" delivered in October 2005, currently
transporting LNG for RasGas II. |
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| Corresponding to the recent rise in global demand of LNG
transportation especially in the Atlantic basin, "K" Line Group has expanded its
network in the Atlantic area and will step up its endeavors to further strengthen its
transport capabilities, flexibly responding to the increasing and diversified global LNG
shipping demands. |
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| *Due to the announcement of delay of the "Snøhvit"
project start-up date, the vessel will be short-term chartered to another major charterer
upon delivery. |
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| Ship Particulars: |
| LOA |
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289.5m |
| Breadth |
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48.4m |
| Depth |
: |
26.5m |
| Dead Weight |
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73,100mt |
| Cargo Tank Type |
: |
Moss Spherical |
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| For further information, please contact: |
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| Kawasaki Kisen Kaisha, Ltd. ("K" Line) |
| Hiromichi Aoki General Manager, LNG Group |
| Tel: +81 3 3595-5478 |
Fax: +81 3 3595-5512 |
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| Toshio Yamazaki Manager, LNG Project Development Team, LNG
Group |
| Tel: +81 3 3595-5484 |
Fax: +81 3 3595-5512 |
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| "Arctic Discoverer" |
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