Kawasaki Kisen Kaisha, Ltd. ("K" Line) is pleased to announce
that a JVA in ship repair business has been signed with the joint venture
company between Hanjin Shipping and Shunhe Shipping of Zhejiang Eastern
Shipyard Co., Ltd. (ZESCO), a shipyard in Zhejiang Province by accepting
ZESCO’s increase capital for third parties together with Shanghai Changjiang
Shipping(Sinotrans group).
ZESCO is located in a northern part of Zhoushan islands, Zhejiang Province,
occupying total area of 550,000m2 with 1,900m length of coastline. It has
capacity of 150 vessels per year, equipped with two large graving docks
(one of which can accommodate 300,000dwt class VLCC or VLOC and the other
can accommodate CAPE-size), hull workshop (13,000m2), one repair berth,
painting workshop and mechanical-electrical workshop. In addition, ZESCO
plans to construct second repair berth and third graving dock. The graving
dock facilities and one repair berth were completed and full operation
started in early April 2009. 24 vessels have already docked in ZESCO and
another 16 vessels are expected to dock in by the end of this year. "K"
Line secures certain repair slots at ZESCO as a main shareholder and user.
ZESCO is located very conveniently near Shanghai Yangshan, and can accommodate
all kinds of vessels (not limited to containerships) without any narrow
navigation restriction on the river.
"K" Line’s participation in ZESCO means that we obtain core repair
slots for increasing large-size vessels, as we announced in August 2008
when "K" Line became a Primary Strategic Partner in ship repair business
with Titan Quanzhou Shipyard Ltd. (TQSL) under construction in a suburb
of Quanzhou City, Fujian Province. By these two projects, ZESCO and TITAN,
"K" Line will cooperate with our friendly owners in regards to nomination
to the two dockyards, placing "K" Line in an even better position to pursue
enforcement of its safety policy and stable quality of ship management.
In October 2009, we also established a consultant company ’Shanghai Brainy-Kawasaki
Maritime Service Co., Ltd (SBK)' and SBK started to provide full support
when vessels dock in the above two dockyards.