“K” Line gets two new bulkers

Construction of two new cape-size bulkers ordered by Kawasaki Kisen Kaisha, Ltd. (“K” Line) group was completed in the beginning of January. A 200,000dwt Cape-size bulker named Cape Rosa was delivered from Universal Shipbuilding Corporation’s Tsu Shipyard and set sail for Australia. This is the first vessel in a series of 200,000-tonne class Setouchi-max bulkers ordered by “K” Line. It will be mainly engaged in the transportation of iron ore and coal from Australia to Japan.

“K” Line also received an 185,000dwt Cape-size bulker named Cape Riviera from Kawasaki Shipbuilding Corporation’s Sakaide Shipyard. It was handed over to “K”Line (Europe) Ltd, which is “K” Line subsidiary and will be engaged in the transportation for its clients mainly in the Atlantic Ocean.

“K” Line sees iron material transportation as a promising sector where growth will continue on a world scale. The company is expanding its business with aggressive investment in this sector and, in 2005, nine Cape-size newbuildings, including the above two bulkers, and three Panamax-size vessels will join the “K” Line Coal & Iron Ore Carrier Group fleet.