| June 15, 2007 |
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| "K" Line Concludes Contracts with Baosteel Group, Shougang Corp.,
and |
| Wuhan Iron and Steel Corp to Transport Brazilian Iron Ore to China |
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| Kawasaki Kisen Kaisha, Ltd. ("K" Line) has concluded contracts
with the largest Chinese steel company Baosteel Group (Shanghai, China)
and the major steel companies Shougang (Group) Corp. (Beijing, China) and
Wuhan Iron and Steel (Group) Corp. (Wuhan, China) for the transport of
Brazilian iron ore. |
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| On June 11, 2007, in Shanghai, China, Vice President Dai Zhihao of Baoshan
Iron & Steel Co., Ltd. and Vice President & Assistant CEO Eiichi
Suzuki of "K" Line presided over a signing ceremony of an iron
ore transportation contract that will extend for 18 years. |
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| On June 12 and 13, 2007, signing ceremonies of iron ore transportation contracts were also held in Wuhan and Beijing, respectively. |
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| [Outline of Contract with the Baosteel Group] |
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| 1. |
Period: Approximately 3 years from the second half of FY2007
Trade: Transport of iron ore from Brazil to China using a 170,000-ton bulker
Transport Volume: Approximately 0.5 million tons per year |
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| 2. |
Period: 15 years from the first quarter of FY2011
Trade: Consecutive voyage transport of iron ore from Brazil to China using a 300,000-ton ore carrier
Transport Volume: Approximately 1.2 million tons per year |
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| [Outline of Contract with Shougang (Group) Corp.] |
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| • |
Period: 5 years from the third quarter of FY2007
Trade: Transport of iron ore from Brazil to China using a 170,000-ton bulker
Transport Volume: Approximately 0.5 million tons per year |
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| [Outline of Contract with Wuhan Iron and Steel (Group) Corp.] |
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| • |
Period: 5 years from the first quarter of FY2008
Trade: Transport of iron ore from Brazil to China using a 170,000-ton bulker
Transport Volume: Approximately 0.5 million tons per year |
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| "K" Line has set as its core business for dry bulk transportation
the transportation of coal and iron ore to China. These contracts are in
line with this plan, and "K" Line will continue active involvement
in the resource transportation business in the Chinese market. |
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| For further information, please contact: |
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| Kawasaki Kisen Kaisha, Ltd., Tokyo ("K" Line) |
| Osamu Saegusa |
Manager of Coal & Iron Ore Team No.2,
Coal & Iron Ore Carrier Group
Tel: +81-3-3595-5406 Fax: +81-3-3595-5369 |
| Atsushi Takayama |
Manager of Information and Public Relations Team,
IR & PR Group
Tel: +81-3-3595-5083 Fax: +81-3-3595-5001 |
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| (from left: Dai Zhihao, Baoshan Iron & Steel Co., Ltd. Vice President,
Eiichi Suzuki, "K" Line Vice President) |