“K” LINE Exercises Options for Building 3 additional Panamax Containerships

14/05/03

Kawasaki Kisen Kaisha, Ltd. (”K” LINE) is proud to announce that it has decided to exercise another option for 3 new Panamax vessels, in addition to the 5 sister vessels that were announced in April this year. Identical to the 5 vessels, these 3 are Panamax sized, state-of-the-art, high-speed-vessels to be constructed by Hyundai Heavy Industries Co., Ltd., Korea. Including this latest order, “K” LINE now has a total of 8 new Panamax vessels to come on line, which will replace current vessels under short-term charter, the number of which has been increasing due to deployment in our services. These new vessels are expected to assure an even more stable and competitive fleet.

The main specs are as follows:

LOA 294.0 m

Width 32.2 m

Capacity 4014 TEU

Service speed 23.5 not

Reefer Plug 400

Any inquires should be directed to the following representatives;

“K” LINE Tokyo Headquarters, Containerships Business Group

Takashi Saeki, General Manager Tel: +81-3-3595-5293

Email: saeki.takashi@jp.kline.com

Noriaki Yamaga, Manager of Asset Management Team

Tel: +81-3-3595-5266

Email: yamaga.noriaki@jp.kline.com