| April 24, 2007 |
| Plans for Singapore’s First Dedicated Automobile Terminal Established |
| Kawasaki Kisen Kaisha, Ltd. ("K" Line; Head Office: Minato-ku, Tokyo; President: Hiroyuki Maekawa), PSA Singapore Terminals (Chief Executive Officer: Kuah Boon Wee), and Nippon Yusen Kaisha (NYK; Head office: Chiyoda-ku, Tokyo; President: Koji Miyahara) have agreed on a contract for establishing the first dedicated automobile terminal at PSA Singapore Terminals. |
The new joint venture has been named Asia Automobile Terminal Singapore (AATS; Head Office: Singapore; Chairman, AATS: Tan Puay Hin), and by January 2009, it will establish and operate a dedicated terminal for automobiles using two berths at PSA’s Pasir Panjang Terminal. |
| PSA, which provides transshipping for finished automobiles for export from Asian countries, is a very important harbour in Asia for "K" Line’s finished-automobile transport service. |
| By establishing this new joint venture, "K" Line will continue to develop its competitive network for the finished-automobile transport service that the company offers through the Port of Singapore in order to best position itself to respond to demand in Asian countries, which is expected to increase rapidly in the future. |
| For further information, please contact: |
| Masahiko Taki |
| Manager, Strategic Business Team |
| Car Carrier Planning & Development Group |
| Kawasaki Kisen Kaisha, Ltd. Tokyo |
| TEL: 81-3-3595-5471 FAX: 81-3-3595-5375 |