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Delivery of ‘ Corona ' Series Coal Carrier “ CORONA MAJESTY

May 24, 2007 - Kawasaki Kisen Kaisha, Ltd., Tokyo , (hereafter called “K” Line) is proud to announce the delivery of “Corona Majesty,” a new 88,000 DWT-type coal carrier at Imabari Shipbuilding Co., Ltd., Japan on 24 May 2007.

The name “Corona Majesty” derives from “ Corona ” which is the symbol of “K” Line's specialized fleet for transport of thermal coal known as the Corona-series, and from “Majesty” which signifies the dignity and highly-reputable status established by the “Corona-series” in the field of thermal coal transportation.

[Vessel's Specifications]

The Post - Panamax “Corona-series”, which “K” Line originated and continues to develop, consists of epoch-making coal carriers equipped with wide beam and shallow draft, making it the most suitable to transport thermal coal. With this new latest deployment, the Corona-series now consists of 11carriers, and with 4 more newbuildings currently on order in response to the demand for this type of thermal coal-carrying vessel, our fleet will be comprised of 15 carriers in this series by 2009.

“K” Line takes pride that its Corona-series has been so favorably evaluated for always ensuring customers steady and reliable thermal coal transport service with maximum safety.

For further information, please contact:

Kawasaki Kisen Kaisha, Ltd. Tokyo
Thermal Coal, Woodchip and Pulp Group
Kazuhiko Harigai, General Manager Tel: 81-3-3595-5502
Michitomo Iwashita, Manager Tel: 81-3-3595-5505
Fax: 81-3-3595-5512