'K' Line Announces Delivery of 145,000m3 LNG Carrier "CELESTINE RIVER" for Cheniere Project.

Tokyo, Japan, Dec 14, 2007 - (JCN Newswire) - Kawasaki Kisen Kaisha, Ltd. ("K" Line) is pleased to announce the successful delivery of its brand new 145,000m3 Liquefied Natural Gas (LNG) Carrier "CELESTINE RIVER", constructed at Kawasaki Shipbuilding Corporation's Sakaide Shipyard in Kagawa, Japan. "K" Line LNG Shipping (UK) Limited (KLNG), headquartered in London, is the sole owner of the vessel, and will also be responsible for the ship management of "CELESTINE RIVER" followed by two vessels for the Snohvit project and one vessel for the Qatar Gas project. "K" Line Group will, consequently, bring its LNG Carrier fleet to 32 vessels in total, including 8 vessels managed by "K" Line Group.

Responding to the existing business in the Japanese market and a growing interest in the Atlantic basin, "K" Line Group completed its formulation of a trilateral framework among the "K" Line global bases in the UK, the US and Japan. "K" Line Group is ready to respond to increasing and diversified LNG shipping needs, such as short-mid term and spot charters. For these reasons, KLNG will be owning and managing this vessel.

This vessel will be chartered for a period of a maximum of ten years to a subsidiary of Cheniere Energy, Inc., an American energy company, soon after the delivery. KLNG will step up its endeavors to further strengthen its transport capabilities and will flexibly and positively respond to the increasing and diversified global LNG shipping demands.

While this 145,000m3 Moss type LNG Carrier, "CELESTINE RIVER", was constructed as a multi-functional versatile vessel, it is compatible with many major existing LNG terminals around the world. This vessel will be utilized for transporting LNG primarily to LNG receiving terminals being developed by Cheniere Energy in the US. Responding to the growing demands of global LNG trading, this brand new vessel promises efficient, reliable and customer-friendly LNG transportation.

"CELESTINE RIVER"

LOA :                    289.7m
Breadth :                49.0m
Depth :                  27.0m
Dead Weight :            77,163mt
Cargo Tank Type :        Moss Spherical
Cargo Tank Capacity :    App. 145,394 m3
Builder :                Kawasaki Shipbuilding Corporation

About Kawasaki Kisen Kaisha Ltd.

Kawasaki Kisen Kaisha Ltd. ("K" LINE) was established in April 1919. Containership services has had the distinction of being the centerpiece of "K" LINE's global sea transportation services. Providing stable and reliable service, this business has been developing and expanding with the present global network offering coverage around the world. By keeping abreast of changing business circumstances and in order to meet customer's requirements, we are also constantly reinforcing our company's international competitiveness. For more information, please visit http://www.kline.co.jp/index_e.html.

Source: Kawasaki Kisen Kaisha Ltd.

Contact:

Kawasaki Kisen Kaisha, Ltd. ("K" Line)
Hiromichi Aoki
General Manager, LNG Group
Tel : [phone]
Fax : [phone]

Tomoyuki Okawa
Deputy General Manager, LNG Group
Manager, LNG Team No. 3, LNG Group
Tel : [phone]
Fax : [phone]

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