CKYH Alliance Restructure East Mediterranean Services

January 26, 2007 - TOKYO, Japan - Kawasaki Kisen Kaisha, Ltd. (“K” Line). Coscon, “ K ” Line and Yang Ming (YML) are pleased to announce the inauguration of new East Mediterranean Service from mid of March, 2007, named East Mediterranean Express (EMX). Targeting the Israel / Greece market and enlarging the market coverage through the hub ports, EMX will provide the direct service from Fareast base ports to these two key markets in East Mediterranean . EMX wil l be operated by seven 3000TEU type vessels , among which Coscon will provide four vessels, YML will provide two vessels and “ K ” Line will provide one vessel.

By launching the new East Mediterranean Express (EMX), member lines of CKYH Alliance will further upgrad e current Aegean Sea Direct Express (ADX) from current six of 1400TEU class vessels to six of 2000TEU class vessels, mainly aiming major ports of Turkey , another key market in East Mediterranean . Among the six vessels, YML will provide four vessels and Coscon will provide two vessels.

All member lines of CKYH Alliance believed that the launching of new EMX and upgrading ADX will not only enlarge the service coverage and service quality, but also enhance the cooperation scope globally.

Rotation of East Mediterranean Express (EMX) and new Aegean Sea Direct Express (ADX) would be as below:

EMX (7x3000TEU)	Shanghai – Ningbo – Hong Kong – Shekou – Singapore – Ashdod – Piraeus – Thessaloniki – Singapore – Hong Kong – Shanghai
ADX (6x2000TEU)	Hong Kong – Singapore – Istanbul – Haydarpasa – Gemlik – Izmir – Singapore – Hong Kong

For further information, please contact:

Takafumi Kido
Manager, Planning Team
Containerships Business Group
Kawasaki Kisen Kaisha, Ltd. Tokyo
TEL: 81-3-3595-5309 FAX: 81-3-3595-5288