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“K” Line Embarks on New Containership Building Program

July 20, 2007 - Kawasaki Kisen Kaisha, Ltd. (“K” Line), Tokyo , is proud to announce its decision to place an order for 10 new 4500TEU type containerships with Hyundai Heavy Industries Co., Ltd. This particular type vessel has been newly designed by Hyundai Heavy Industries Co., Ltd., based on our requirements, having same loading capacity as Panamax-max type containerships (Nominal Capacity 5100TEU) but equipped with even better drive. Delivery of these medium-sized containerships will begin in 2010 and ready for deployment in many roles throughout our network such as East-West Trunk line trades, West/South Asia service and North/South Trade.

These new 4500TEU containerships will replace current 3500TEU containerships.

However, they will also be catering to additional increase in cargo movements as well as provide even further improvements in both service quality and competitiveness of our company's constantly expanding fleet. This latest order reflects “K” Line's wish to further reinforce its ability to provide even better service quality for its customers.

The main specs are as follows:

	4500TEU type
LOA	267.0 m
Width	35.4 m
Draft	10.8 m
Capacity	4500 TEU
Service Speed	24.1 knots

For further information, please contact:

Kunihiko Arai, Manager of Asset Management Team
Containerships Business Group
Kawasaki Kisen Kaisha, Ltd. Tokyo
TEL: 81-3-3595-5266 FAX: 81-3-3595-5287