June 18, 2007 - Kawasaki Kisen Kaisha, Ltd., Tokyo (hereafter called "K" Line) is proud to announce that an agreement was reached with Mumbai-based JSW Energy Ltd. of O.P. Jindal Group in India for a 15-year consecutive voyage charter of two Post-Panamax type thermal coal carriers.
| Agreement: | Consecutive voyage charter of thermal coal carriers for 15 years commencing from 2009 |
| Services: | Marine transportation of thermal coals from Indonesia to India |
| Vessels: | 2 Post-Panamax type thermal coal carriers |
JSW Energy Ltd. is engaged mainly in providing electric power to JSW Steel Ltd., and will complete the construction of 2 new power stations in 2008 and 2009, of which power output will be 600 MW and 1,200 MW respectively. "K" Line will undertake all marine transportation of Indonesian coals bound to power stations in the above in accordance with the agreement.
In the new intermediate management plan "K" Line Vision 2008 + , "K" Line is advocating acceleration of active involvements in overseas markets, and the conclusion of this agreement is a part of such activities. "K" Line will actively strive to enter the thermal coal transportation market in India where a substantial growth is expected in the near future.