Shipbuilding Buoyant with Successive Deliveries and New Contracts

 The first half of this fiscal year (from April 2003 to September 2003) saw Kawasaki Shipbuilding deliver six new vessels with a total of 250,000 GT. These were two LNG Carriers, two LPG carriers and two bulk carriers

 These newly delivered vessels included the following:

-	The Energy Frontier: The first delivery of orders for the Kawasaki-developed 145,000 m3 LNG Carriers was completed. The owner of this vessel is Tokyo LNG Tanker Co., Ltd.
-	The Crystal Marine: The first LPG carrier to use the new stem named “SEA-Arrow (Sharp Entrance Angle Bow as an Arrow),” developed by Kawasaki for significant reduction of bow wave resistance and improved propulsive performance. The carrier was delivered to Kumiai Navigation (PTE) Ltd.

 Orders received for the first half of this fiscal year came to ten carriers consisting of one LNG carrier, one very large crude carrier (VLCC) and eight bulk carriers to give a total of 590,000 GT.