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K'Line Announces Delivery of Corona Lions

Maritime Activity Reports, Inc.

January 22, 2007

Kawasaki Kisen Kaisha, Ltd. announced the launch of the Corona Lions, a new 85,600 DWT-type coal carrier at Oshima Shipbuilding Co., Ltd., Japan. The Corona series, which K Line originated and continues to develop, consists of epoch-making coal carriers equipped with wide beam and shallow draft, which is the most suitable type to enter the ports of domestic thermal power plants to discharge cargo. With this new deployment, the Corona series now consists of 10 carriers, and by the further increase of another new building in 2007 and 4 more having been ordered to respond to the demand for this type of vessel to carry thermal coal, the series will total 15 carriers.

The name Corona Lions derives from Corona which is the symbol of K Line's specialized fleet for transport of thermal coal known as the Corona series. Also the lion, which is often called the king of beasts, is a common charge in heraldry, traditionally showing bravery, valor and strength. The Corona series always ensures customers a steady and reliable thermal coal transport service with maximum safety. Source: JCN Newswire