News and Press Releases

"K" Line Invests in Business of Offshore Support Vessels

November 2, 2007 -Kawasaki Kisen Kaisha, Ltd. ("K" Line: President Hiroyuki Maekawa) announced today that "K" Line will further invest in the business of Offshore Support Vessels, where continuous strong growth is expected in active oil and gas exploration and development that is now moving more and more into deeper waters following the higher energy prices in recent years.

"K" Line's investment will be through a partnership with C. H. S Ø rensen Management AS (hereafter CHSM) in Norway . "K" Line and CHSM jointly founded a shipowning/operating company, K LINE OFFSHORE AS in Norway , which has ordered two Large-sized Anchor Handling Tug and Supply Vessels (AHTS) ( ? 1) and four Large-sized Platform Supply Vessels (PSV) ( ? 2) from internationally-respected shipyard, Aker Yards AS ( ? 3) in Norway . The building supervision and technical management for those offshore vessels are entrusted to OSM Group (hereafter OSM) in Norway, who is ripe in experience in Offshore Vessel operations and management for more than a decade, maintaining its position as the world's leading independent ship management company in this business field, having more than 100 offshore ships on-hand including newbuildings to be delivered in the near future.

With these state-of-the-art Large-sized vessels and OSM's experienced technical support, "K" Line and CHSM can offer customers more reliable and competitive service by combining their respective skills, financial strengths, extensive shipping experiences, worldwide network and so forth.

"K" Line is seeking additional enhancement of its worldwide business activities, including further developments in the shipping field, especially in Europe , expecting to enjoy the synergy from another joint venture that started in April 2007 in the field of heavy lift shipping with the highly-respected German-based SAL Group.

(1) AHTS is a dual-purpose tug designed for transport of cargo in addition to anchor handling and towing duties of floating rigs (Jack Ups, Semi Submersibles, etc.)

PSV is used for transport of cargo (Fuel, Food, Water, Dry-Bulk, Explosives, etc.) to and from offshore installations.

(3) Founded in 1841 with headquarters based in Oslo , Norway , the Europe 's largest shipbuilding company with total of 18 shipyards in European countries, Brazil and Vietnam , having three business departments: Cruise & Ferries, Merchant Vessels and Offshore & Specialized Vessels, well respected for high quality shipbuilding.
Outline of shipbuilding contracts

Anchor Handling Tug and Supply Vessels (AHTS)

Shipyard Aker Yards AS, Norway
Delivery December 2010 and April 2011 (2 vessels)
Vessel Spec Ship's design : Aker AHT 12
(estimated) LOA 95m, Beam 24m, Depth 9.8m,
Speed 17 Knots, DWT 4,800t,
Accommodation 70 persons
  DPS (Dynamic Positioning Systems-2) (4) etc. equipped

Platform Supply Vessels (PSV)

Shipyard Aker Yards AS, Norway
Delivery October 2010 and January/April/July 2011 (4 vessels)
Vessel Spec   Ship's design : Aker PSV 06 CD
(estimated) LOA 95m, Beam 20m, Depth 8m,
Speed 16 Knots, DWT 5,100t,
Accommodation 25 persons
  DPS (Dynamic Positioning Systems-2) (4) etc. equipped

(4) DPS is designed to counteract the constantly varying forces incidental to wind, waves and current upon the vessel in such manner that it will either maintain a specified position and heading, or move along a desired track. This can be achieved by either centralized manual control of the vessel's thrusters or by automatic response to the variations of the environmental conditions.

Aker AHT 12 design
Aker PSV 06 CD design