“K” LINE PTE LTD signs long-term contract with EGA

“K” LINE PTE LTD announced that agreement has been reached with Emirates Global Aluminium (“EGA”) for ocean transport of bauxite ore. The quantity involved is about 5 million tonnes per year using Cape-size bulk vessels, with the contract to commence in late 2010’s over a long period. “K” Line has been a business
partner of Dubai Aluminium (“DUBAL”), now an operating subsidiary of EGA, since its inception in 1979 and has continuously transported its cargo for the past 35 years. The bauxite ore contract is for the alumina refinery that EGA plans to build in Al Taweelah, UAE.

“K” Line announced its new medium-term management plan “ Value for our Next Century” in March this year. Under this new plan, “K” Line is expanding its Cape-size carrier business as one of the company’s core business sectors for achieving consistent growth by securing medium- to long-term contracts.