KLINE Investor Guidebook August 2004 Kawasaki Kisen Kaisha, Ltd. - PowerPoint PPT Presentation

“K”LINE Investor Guidebook August 2004 Kawasaki Kisen Kaisha, Ltd. 1

Supplemental Information-1 Shipping Markets 2

1- -1. 1. “ “K K” ”Line Container Loading Volume Line Container Loading Volume 1 Loading Volume (Unit;1000TEU) E/W Bound 03F 1Q 03F 2Q 03F 1H 03F 3Q 03F 4Q 03F 2H 03F Yearly 04F 1Q Asia/N.America E/Bound 130 131 261 120 114 234 495 134 W/Bound 55 54 109 57 52 109 218 55 185 185 370 177 166 343 713 189 Asia/Europe W/Bound 85 94 179 87 90 177 356 96 E/Bound 53 57 110 67 59 126 236 58 138 151 289 154 149 303 592 154 Load Factor(%) E/W Bound 03F 1Q 03F 2Q 03F 1H 03F 3Q 03F 4Q 03F 2H 03F Yearly 04F 1Q Asia/N.America E/Bound 94.5% 93.9% 94.2% 85.5% 86.0% 85.8% 90.0% 88.8% W/Bound 59.0% 57.1% 58.0% 59.4% 58.1% 58.8% 58.4% 55.0% 80.2% 79.0% 79.6% 74.9% 74.8% 74.9% 77.2% 75.3% Asia/Europe W/Bound 91.4% 96.9% 94.2% 85.9% 89.0% 87.5% 90.7% 94.8% E/Bound 74.9% 75.2% 75.0% 88.3% 81.1% 84.8% 79.9% 77.9% 84.3% 87.3% 85.9% 87.0% 85.7% 86.3% 86.1% 87.7% 3

1- -2. 2. Line/Alliance wise Line/Alliance wise 1 Vessel/Capacity Comparison Vessel/Capacity Comparison As of 2003 Oct (Source CI 2003 November edition) Ranking Carrier/group Total TEU Total TEU Vessel (Last Year) capacity 2003 capacity 2002 1 (1) A.P. Moller group 844,626 773,931 328 2 (2) Mediterranean Shipping Co. 516,876 413,814 217 3 (4) Evergreen group 442,310 403,932 152 4 (3) 419,527 406,654 157 P&O Nedlloyd 5 (8) 299,174 225,436 133 CMA CGM group 6(5) Hanjin group 290,677 304,409 76 7 (6) COSCO Container Lines 274,128 255,937 148 8 (7) APL 273,573 227,749 82 9(11) 233,934 177,700 77 NYK 10 (9) 222,533 188,326 72 MOL 11 (10) 201,706 187,890 85 CP Ships 12 (12) "K" Line 186,017 161,015 63 Ranking Alliance Total TEU Vessel capacity 2003 1 993,813 330 Grand Alliance 2 904,605 342 CKYH 3 844,626 328 A.P. Moller group 4 The New World Alliance 632,654 189 5 Mediterranean Shipping Co. 516,876 217 4

1- -3. 3. Trend of Average Container Freight Trend of Average Container Freight 1 (Asia- -North America Trade) North America Trade) (Asia E.Bound US$/TEU (Data:CONTAINERIZATION INTERNATIONAL) W.Bound 2400 2200 2000 1800 1600 1400 1200 1000 800 600 94-3rd 95-2nd 96-1st 97-3rd 98-2nd 99-1st 00-3rd 01-2nd 02-1st 03-2nd 04-1st 93-4th 96-4th 99-4th 02-4th 5

US$/TEU 1100 1300 1500 1700 500 700 900 1- 1 -4. 93-4th 4. Trend of Average Container freight (Data:CONTAINERIZATION INTERNATIONAL) 94-2nd Trend of Average Container freight 94-4th 95-2nd 95-4th (Asia- (Asia 96-2nd 96-4th 97-2nd -Europe Trade) 97-4th Europe Trade) 98-2nd 98-4th 99-2nd 99-4th 00-2nd 00-4th 01-2nd 01-4th 02-2nd 02-4th 03-1st 03-2nd W.Bound E.Bound 03-4ｔｈ 6

1- -5. 5. Trend of Average Container Trend of Average Container 1 Freight /Volume ( “ “K K” ”Line All Trades) Line All Trades) Freight /Volume ( Volume(1000TEU) Freight/TEU($) 1,000 1,400 900 1,143 1,132 1,122 1,200 1,073 1,073 1,055 1,050 1,044 1,037981 800 1,000 925 932 861 915 1,000 810 700 852 556 575 584 566 598 600 520 504 530 516 800 391 413 414 407 426 450 435 409 500 600 400 300 400 200 200 100 0 0 00F 1Q 00F 2Q 00F 3Q 00F 4Q 01F 1Q 01F 2Q 01F 3Q 01F 4Q 02F 1Q 02F 2Q 02F 3Q 02F 4Q 03F 1Q 03F 2Q 03F 3Q 03F 4Q 04F 1Q 7 Volume Freight

1- -6. 6. Bulker Market Bulker Market 1 PANAMAX US GULF/JAPAN GRAIN ($/KT) 80 76 72 68 64 60 04F 56 03F 52 48 44 40 36 32 28 24 20 16 02F 12 8 4 0 8 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR

1- -7. 7. Tanker Market Tanker Market 1 Tanker Market(VLCC Arabian Gulf/ Japan) ($/KT) 180 04F 03F 160 140 120 02Ｆ 100 80 60 40 20 0 9 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR

1- -8. 8. Transition of Cars/Trucks Transition of Cars/Trucks 1 Transported by PCTC Transported by PCTC 50 48 49 48 45 40 39 38 35 (ten thousand units) 30 25 20 15 10 5 0 03年1Q 03年２Q 03年３Q 03年４Q 04年１Q 10 Japan・FE/North America Japan・FE/Europe Japan・FE/The Other Area Trade not From/To Japan・FE Trade bound for Japan・FE

1- -9. 9. “ “K K” ”Line Vessel Fleet Composition Line Vessel Fleet Composition 1 June 2004 （total 376 vessels） Coastal/Ferry Container 12% 18% 44 Energy Resource 68 15% 58 129 77 Bulk Carrier PCTC 35% 20% March 2004 年 月末 （total 361 vessels） Coastal/Ferry Container 13% 18% 47 64 Energy Resource 15% 55 125 70 Bulk Carrier PCTC 35% 11 19%

1- -10. 10. “ “K K” ”Line Container Vessel Fleet Composition Line Container Vessel Fleet Composition 1 03 March 04 June 5500TEU over 13 13 3500TEU （ 3400~4700 ） 17 18 2800TEU （ 2700~2900 ） 4 4 2000TEU （ 1500~2500 ） 13 12 1400TEU or under 17 21 Total 64 68 12

1- -11. 11. “ “K K” ”Line Bulk Carrier Fleet Composition Line Bulk Carrier Fleet Composition 1 Chip/Pulp June 2004 (total 129 vessels) Carrier 11% Cape Size Smallhandy Bulker 14 Bulker 17 38% 49 13% 15 34 Handymax Bulker Panamax Bulker 12% 26% March 2004 (total 125 vessels) Chip/Pulp Carrier 11% 14 Cape Size Bukler Smallhandy Bulker 17 50 40% 14% 16 28 Handymax Bulker 13% 13 Panamax Bulker 22%

1- -12. 12. “ “K K” ”Line PCTC Vessel Fleet Composition Line PCTC Vessel Fleet Composition 1 March 04 June 04 6000units 7 8 5000units （ 4,750~5650) 26 29 4000units （ 3800~4600 ） 15 15 3000units （ 2800~3500 ） 13 11 2000units （ 1600 ~2500 ） 4 6 800units （ 800 ~850 ） 5 8 Total 70 77 14

1- -13. 13. “ “K K” ”Line Energy Transport Fleet Composition Line Energy Transport Fleet Composition 1 June 2004 Tanker/VLCC (total 58 vessels) 4 Tanker/AFRA 7 LNG Carrier 24 Tanker/CLEAN 4 LPG Carrier 3 Thermal Coal Carrier March 2004 16 (total 55 vessels) Tanker/VLCC Tanker/AFRA 4 6 Tanker/CLEAN LNG Carrier 3 24 LPG Carrier 3 Thermal Coal Carrier 15 15

Supplemental Information-2 Financial Data 16

2- -1. 1. Breakdown on Non Breakdown on Non- -Operating , Extra Operating , Extra- - 2 Ordinary Items (2004F 1H) Ordinary Items (2004F 1H) (unit:billion yen) １．Non-Operating Income/Loss 1Q 2Q 1H 1Q 2Q 1H Consolidated Total 1.2 -1.2 0.0 Non-Consolidated Total 1.5 -1.1 0.4 Financial Gain/Loss -0.5 -0.6 -1.1 Financial Gain/Loss 0.2 -0.4 -0.2 Exchange Gain/Loss 1.4 -0.6 0.8 Exchange Gain/Loss 1.3 -0.7 0.6 Others 0.3 0.0 0.3 Others 0.0 0.0 0.0 ２．Extra-Ordinary Income/Loss 1Q 2Q 1H 1Q 2Q 1H Consolidated Total -0.2 -4.3 -4.5 Non-Consolidated Total 0.0 -0.3 -0.4 Sale of Vessel 0.0 0.0 0.0 Sale of Vessel 0.0 0.0 0.0 Marketable Securities 0.0 0.0 0.0 Marketable Securities 0.0 0.0 0.0 Others -0.2 -4.3 -4.5 Others 0.0 -0.3 -0.4 17

2- -2. 2. Transition of Operating Revenues Transition of Operating Revenues 2 unit:billion yen 800 （Consolidated） 700 〈620.0〉 〈585.0〉 (Non-Consolidated) 600 46.5 45.2 〈499.8〉 500 〈424.0〉 〈449.1〉 46.0 242.0 790.0 44.3 220.4 726.8 42.7 400 632.7 188.1 571.0 557.9 171.8 300 161.3 331.0 317.2 200 263.5 230.3 217.7 100 Prospects 00F 03F 01F 02F 04F Container Bulk Carrier/Car Carrier Energy Transportation Others 18

Supplemental Information-3 Historical Data 19

3- -1. 1. Consolidated Revenues&Incomes Consolidated Revenues&Incomes 3 Operating Revenues Operating Income (unit:billion yen) Ordinary Income* Net Income 100 900.0 90 80 700.0 70 60 500.0 50 40 300.0 30 20 100.0 10 0 -100.0 -10 93F 94F 95F 96F 97F 98F 99F 00F 01F 02F 03F 04F 20 * Ordinary income is income before income taxes and extra-ordinary items

3-2. Consolidated ROE/ROA （Billion Yen） 60 45% 40% 50 35% 40 30% 25% 30 20% 20 15% 10% 10 5% 0 0% 93F 94F 95F 96F 97F 98F 99F 00F 01F 02F 03F 04F Net Income ROE ROA 21

3-3. Consolidated Interest Coverage Ratio (Billion Yen) （%） 120.0 25 100.0 20 80.0 15 60.0 10 40.0 5 20.0 0.0 0 93F 94F 95F 96F 97F 98F 99F 00F 01F 02F 03F 04F Operation Income Interest Coverage Ratio 22

3- -4. 4. Consolidated EV/EBITDA Consolidated EV/EBITDA 3 （unit:billion yen） 140.0 14 120.0 12 100.0 10 80.0 8 60.0 6 40.0 4 20.0 2 0.0 0 93F 95F 97F 99F 01F 03F 04F EBITDA EV/EBITDA 23

3- -5. 5. Consolidated Assets Turnover Consolidated Assets Turnover 3 （unit:billion yen） 900.0 1.6 800.0 1.4 700.0 1.2 600.0 1.0 500.0 0.8 400.0 0.6 300.0 0.4 200.0 0.2 100.0 0.0 0.0 93F 94F 95F 96F 97F 98F 99F 00F 01F 02F 03F 04F 24 Operating Revenues Assets Turnover