Release: K Line: Delivery of 154,800m3 LNG Carrier "TANGGUH FOJA" for TANGGUH PSCs

November 26, 2008 - Tokyo, Japan - A consortium comprising Kawasaki Kisen Kaisha, Ltd. ("K" Line) and P.T. Meratus Line is pleased to announce the successful delivery of a brand new 154,800m3 Liquefied Natural Gas (LNG) Carrier, "TANGGUH FOJA", constructed at Samsung Heavy Industries, Co., Ltd. in Korea. The vessel will be chartered to the TANGGUH LNG operated by BP soon after her delivery as the first in a series of 3 vessels under "K" Line operation. "K" Line Ship Management Co., Ltd. will be responsible for the management of "TANGGUH FOJA". This latest delivery will result in bringing the number of vessels in "K" Line Group?s LNG carrier fleet to a total of 43.

In 2005, "K" Line and its Indonesian consortium partner, P.T. Meratus Line, were successfully awarded Time Charter Contracts for three vessels in a bidding process to procure seven LNG carriers by the TANGGUH LNG, with "TANGGUH FOJA" having the honor of being the first one of the seven. These newly-built vessels incorporate the most modern Dual Fuel Diesel Electric (DFDE) Engines, thereby achieving better fuel efficiency together with greater environmental benefits.

The name of "FOJA" together with "TANGGUH JAYA" that will be our second vessel originate from the name of mountains in Papua, Indonesia where LNG Plant for the TANGGUH LNG is located, while the name of "TANGGUH PALUNG" for our third vessel comes from the mountain in Kalimantan where the first LNG plant in Indonesia was established. "TANGGUH JAYA" and "TANGGUH PALUNG" are scheduled for delivery at the end of this year and first quarter of 2009, respectively. "K" Line is committed to maximizing the utilization of Indonesian crew onboard those 3 TANGGUH vessels.

In keeping with a policy of always giving first priority to safety in its services, "K" Line will continue committing itself to contributing to the expansion of energy transportation business. (end of release)

(*) Ship Particulars
LOA : 285.1m
Breadth : 43.4m
Depth : 26.0m
Dead Weight : 76,100mt
Cargo Tank Type : Membrane Type, GTT Mark III
Cargo Tank Capacity: Approx. 154,800m3
Builder : Samsung Heavy Industries Co., Ltd.