“K” Line signs 10-year charter contract with Chinese steel producer

“K” Line signs 10-year charter contract with Chinese steel producer

“K” Line signs 10-year charter contract with Chinese steel producer

   Kawasaki Kisen Kaisha Ltd. (“K” Line) has concluded a long-term contract with Chinese steel producer Jiangsu Shagang Group Co. Ltd. for the transport of iron ore from Western Australia and South Africa to China.

   The bulk shipping contract will commence in the first quarter of 2005 and will cover a volume of about 2 million tons a year.

   “K” Line said next year when Jiangsu Shagang has completed a new blast furnace, its crude steel production will increase from 8 million to 12 million tons a year.