Kawasaki Kisen Kaisha, Ltd. ("K" Line) concluded a contract with JSW Steel Limited (JSW; Corporate office: Mumbai, India) of the O.P. Jindal Group for the transport of raw coal by Panamax bulkers. The contract period is 7 years commencing January 2007. It is planned to transport approximately 500,000 tons annually through 7 voyages per year.
JSW Steel Limited is the core company of the O.P. Jindal Group and has capacity to produce 3,800,000 tons of crude steel in 2006. With the exception of state-operated industries, JSW is second in scale only to Tata Steel in the field of civilian enterprises in India. This represents the first contract between JSW and "K" Line.
"K" Line has been accelerating its activities on overseas markets in line with our intermediate plan "K" LINE Vision 2008+ and this contract is one step in that process, representing our positive commitment to dry-bulk business in the Indian market, a market seen as having future growth potential.