March 31, 2016
Kawasaki Kisen Kaisha, Ltd.
Establishment of Panamax Fleet- allocation Center (PFC) for Dry bulk vessels
We are pleased to announce the establishment of a Panamax Fleet-allocation Center (PFC) in Singapore, a new organization focused on allocation of Dry bulk Panamax vessels.
1. Form of Organization
The new organization will be founded in “K” Line Pte Ltd (KLPL), a 100% subsidiary of KAWASAKI KISEN KAISHA, LTD.
2. Business outline and Objective of establishment
The new organization will be entrusted by the “K” Line group to collectively carry out Dry bulk Panamax vessels allocation, including conclusion of time charter contracts which has been individually controlled by KAWASAKI KISEN KAISHA, LTD. and each of its group companies. Through this consolidation we aim to optimize overall activity of the K Line group.
3. Date of Establishment
PFC will commence operations as of April 1, 2016.