First newbuilding for “K” Line Europe

“K” Line (Europe) Limited has taken delivery of its first newbuilding, the 185,500dwt bulk carrier Cape Riviera. Built at Kawasaki Shipbuilding in Japan, the bulker is the first of three sisters due to join the “K” Line Europe fleet.

The shipping company has also announced a major fleet expansion for the Atlantic bulk trades. In addition to Cape Riviera’s two sister ships which will be delivered in 2006, a further four vessels have been contracted for delivery by 2007.

“K” Line Europe’s bulk fleet is operated independently from its Tokyo-based parent, and this is reflected by the fact that the majority of these vessels will be named after European regions. The company has already secured some long-term contracts of up to 10 years with first class European charterers, including major steel mills and power companies and is highly confident of the trading prospects for its growing fleet.