09 02-12 kline results-q1-2

Supplementary Report- F2012 -

July 2012Kawasaki Kisen Kaisha, Ltd.

1. Shipping Markets

2. Financial Data

3. Historical Data - For 5 Years -

Supplementary Information -1- Shipping Markets-

3

1-1. “K” Line Container Loading Volume

Loading Volume(Unit:1,000TEU) 11F1Q 11F2Q 11F1H 11F2H 11FY 12F1Q

Asia/N.America E/Bound 163 170 333 299 631 184W/Bound 88 92 180 194 374 106

251 262 513 492 1,005 290Asia/Europe W/Bound 130 135 265 214 479 136

E/Bound 78 81 159 148 308 87208 216 424 362 787 223

Load Factor(%) 11F1Q 11F2Q 11F1H 11F2H 11FY 12F1Q

Asia/N.America E/Bound 92.5% 95.5% 94.0% 91.0% 92.6% 96.0%W/Bound 50.1% 51.7% 50.9% 59.1% 54.9% 55.6%

71.3% 73.6% 72.5% 75.1% 73.7% 75.8%Asia/Europe W/Bound 96.9% 95.7% 96.3% 90.6% 93.7% 95.1%

E/Bound 57.7% 57.6% 57.6% 62.9% 60.1% 61.3%77.3% 76.7% 77.0% 76.8% 76.9% 78.2%

4

1-2. Line/Alliance wise Vessel/Capacity Comparison

Top 30 Container Carriers ranked by operating capacity as of July 2012

TOTALTEU

1 APM-Maersk 2,612,6722 Mediterranean Shg Co 2,214,7593 CMA CGM Group 1,363,2454 COSCO Container L. 721,3615 Evergreen Line 680,1086 Hapag-Lloyd 655,4917 APL 615,0538 CSCL 584,0119 Hanjin Shipping 554,568

10 MOL 507,21511 OOCL 429,61712 Hamburg Süd Group 406,12113 NYK Line 401,78714 Hyundai M.M. 356,94515 K Line 351,405

16 Yang Ming MarineTransport Corp.

351,240

17 Zim 328,27118 PIL (Pacific Int. Line) 300,60719 UASC 267,93820 CSAV Group 265,53221 Wan Hai Lines 165,29522 TS Lines 86,92923 HDS Lines 86,32024 X-Press Feeders Group 75,32925 SITC 54,27626 KMTC 52,36627 NileDutch 48,99728 RCL 47,57429 Grimaldi (Napoli) 41,38730 STX Pan Ocean 39,607

Rank Alliance TEU1 APM-Maersk 2,612,6722 Mediterranean Shg Co 2,214,7593 CKYH 1,978,5744 GA 1,486,8955 TNWA 1,479,2136 CMA CGM Group 1,363,2457 Evergreen Line 680,1088 CSCL 584,0119 Hamburg Süd Group 406,121

10 Zim 328,271

Source : AXSliner (http://www1.axsmarine.com)

Rank Operator

300 600 900 1,200 1,500 1,800 2,100 2,400 2,700

APM-MaerskMediterranean Shg Co

CMA CGM GroupCOSCO Container L.

Evergreen LineHapag-Lloyd

APLCSCL

Hanjin ShippingMOL

OOCLHamburg Süd Group

NYK LineHyundai M.M.

K LineYang Ming Marine Transport…

ZimPIL (Pacific Int. Line)

UASCCSAV Group

Wan Hai LinesTS Lines

HDS LinesX-Press Feeders Group

SITCKMTC

NileDutchRCL

Grimaldi (Napoli)STX Pan Ocean

千(TEU)1000(TEU)

5

1-3. “K” Line Container Volume & Share(Asia to North America ’02-’12)

2002 1H 2002 2H 2003 1H 2003 2H 2004 1H 2004 2H 2005 1H 2005 2H 2006 1H 2006 2H 2007 1H 2007 2H 2008 1H 2008 2H 2009 1H 2009 2H 2010 1H 2010 2H 2011 1H 2011 2H 2012 1H

KL Volume 208 235 244 251 248 280 291 334 325 374 382 439 361 384 300 352 332 343 314 329 330Share 4.9% 4.7% 5.1% 4.8% 4.6% 4.6% 4.8% 4.7% 4.8% 4.9% 5.5% 5.9% 5.5% 5.7% 5.6% 5.5% 5.2% 4.7% 4.7% 4.6% 4.7%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Shar

e

TEU

TPS EB KL Results

KL Volume Share

(Calendar Year)

6

1-4. “K” Line Container Volume & Share(North America to Asia ’02-’12 )

2002 1H 2002 2H 2003 1H 2003 2H 2004 1H 2004 2H 2005 1H 2005 2H 2006 1H 2006 2H 2007 1H 2007 2H 2008 1H 2008 2H 2009 1H 2009 2H 2010 1H 2010 2H 2011 1H 2011 2H 2012 1HKL Volume 103 108 113 111 108 109 116 120 134 126 128 146 192 166 168 214 195 172 182 191 208Share 5.5% 6.0% 5.6% 5.3% 4.5% 5.1% 4.8% 4.9% 5.1% 4.8% 4.2% 4.5% 5.3% 5.4% 5.5% 6.3% 5.8% 5.0% 5.0% 5.2% 5.5%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

0

50,000

100,000

150,000

200,000

250,000

Shar

e

TE

U

TPS WB KL Results

KL Volume Share

(Calendar Year)

7

1-5. “K” Line Container Volume & Share(Asia to Europe ’02-’12 )


0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Shar

e

TEU

AES WB KL Results

KL Volume Share

8

1-6. “K” Line Container Volume & Share(Europe to Asia ’02-’12 )


0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

Shar

e

TEU

AES EB KL Results

KL Volume Share

(Calendar Year)

9

1-7. Trend of Average Container Freight/Volume (“K” Line All Trades)（2004F-2012F1Q）

0

1000

2000

3000

4000

5000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

ドライバルクマーケット(BDI)

10Y

11Y

12Y

09Y

10

1-8. Dry Bulk Market

Dry Bulk Market (BDI)

0

20

40

60

80

100

120

140

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

タンカーマーケット(VLCC AG/JPN)

2009 2010 2011 2012

(WS)

11

1-9. Tanker Market

Tanker Market (VLCC AG/JPN)

12

1-10. Transition of Cars / Trucks Transported by “K” Line PCTC Fleet

13

1-11. “K” Line Vessel Fleet Composition

Note: The number of Energy Resource Transportation includes 23 vessels owned by SPC of the projects ( 23 LNG Carriers).

: The number of Offshore Energy E&P Support vessel includes 1 vessel owned by SPC of the project ( 1 Drillship).

Container 80 Container 74

Bulk Carrier 236 Bulk Carrier 256

PCTC 97PCTC 100

Energy Resource Transportation 70

Energy Resource Transportation 69

Coastal/Ferry 52Coastal/Ferry 54

0

100

200

300

400

500

600

March 2011 June 2011

Total 559 Total 577 Heavy Lif ters

2012 March 16 vessels2012 June 16 vessels

Offshore Energy E&P Support Vessel

2012 Mach 8 vessels2012 June 8 vessels

14

1-12. “K” Line Container Vessel Fleet Composition

9 11

18 18

28 26

3 3

14 13

8 3 300m 200m 100m 0m

Total 80 74

3,500TEU（3,400-4,700）

2,800TEU(2,700-2,900)

2,000TEU（1,500-2,500）

1,400TEU or under

Mar-12 Jun-12

8,000TEU

5,500TEU

K

K

K

K

K

K

15

1-13. “K” Line Bulk Carrier Fleet Composition

16

1-14. “K” Line PCTC Vessel Fleet Composition

34 37

21 21

24 24

4 4

8 8

6 6

0m97 100

2,000units（1,600~2,500）

800units（800~850）

200m 100mTotal

Mar-12 Jun-12

6,000units

5,000units（4,750~5,650)

4,000units（3,800~4,600）

3,000units（2,800~3,500）

17

1-15. “K” Line Energy Resource Transportation, Offshore Energy E&P Support & Heavy Lifter Fleet Composition

Note: The number of Energy Resource Transportation includes 23 vessels owned by SPC of the projects ( 23 LNG Carriers).

LNG Carrier 43 LNG Carrier 43

Tanker/VLCC 8 Tanker/VLCC 8

Tanker/DIRTY 8 Tanker/DIRTY 7

Tanker/CLEAN 6 Tanker/CLEAN 5

LPG Carrier 5 LPG Carrier 5

Offshore Support

Vessel 7Offshore Support

Vessel 7

Heavy Lifters 16 Heavy Lifters 16

0

10

20

30

40

50

60

70

80

90

100

March 2011 June 2011

Chemical Tanker 1 vessel

Drillship2012 March 1 vessel2012 June 1 vessel

Total 94 Total 93

18

1-16. Fleet Upgrading Plan

<Fleet Upgrading Plan>

No. of vessels to be received FY2012-2015

FY2012 : 34 newbuildings to be delivered(14 vessels were already delivered in 1Q)

FY2013 : 24 newbuildings to be delivered

2012F 2013F 2014F 2015FTo be

deliveredAlready

deliveredTo be

deliveredTo be

deliveredTo be

deliveredContainership 4 2 0 0 0

1700TEU2400TEU3500TEU4500TEU6400TEU8000TEU 4 2

Dry Bulkers 24 9 23 12 5Capesize 14 6 4 2 1Panamax 8 4 1Handymax 4 1 5 1Smallhandy 3 1 4Chip/Pulp 1Corona 2 1 2 5 3

PCTC 2 2 0 0 02000台

3800台

4300台 1 15000台

6000台 1 1LNG 0 0 0 0 0Tanker 1 0 1 1 0

VLCCAFRAMAXLRⅡLPG 1CHEMICAL 1 1

Energy New Biz 0 0 0 0 0OffshoreDrillship

Heavy Lifter 0 0 0 0 0Coastal 3 1 0 1 0Total 34 14 24 14 5

19

1-17. “K” Line Group Composition of Fleet

Note: The number of owned vessels includes co-owned vessels, and deadweight tonnage includes share of other companies’ ownership in co-owned vessels.

Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT)Contianerships 8 474,254 66 3,835,829 74 4,310,083 80 4,293,551Dry Bulk Carriers 74 8,648,746 182 19,858,490 256 28,507,236 236 25,760,389Car Carriers 37 548,513 63 915,877 100 1,464,390 97 1,411,041LNG Carriers 42 3,476,851 1 77,163 43 3,554,014 43 3,554,014Oil Tankers 10 1,744,782 16 2,229,559 26 3,974,341 27 4,153,239Offshore Support Vessels 6 30,000 1 3,300 7 33,300 7 33,300Drillship 1 - 0 - 1 - 1 -Heavy Lifters 16 166,913 0 0 16 166,913 16 166,913Short Sea and Coastalships 27 261,654 27 291,700 54 553,354 52 521,193

Total 221 15,351,713 356 27,211,918 577 42,563,631 559 39,893,640

Jun 2012 Mar 2012Owned Chartered Total Total

Supplementary Information-2- Financial Data -

21

2-1. Transition of Operating Revenues

559.2497.4

332.6419.2

415.0

254.4

305.5

44.6

45.8

42.3

44.81,331.0

1,244.3

838.0

985.1 972.3

373.9

323.7

457.838.8

100

300

500

700

900

1,100

1,300

07F 08F 09F 10F 11F

（billion yen）

Container Bulk Carrier/Car Carrier Energy TransportationOthers Consolidated Total

22

2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2012F 1Q)

1.Non-operating Income/Loss (billion yen)

　 Consolidated Total 3.1

Financial Gain/Loss △ 0.6Equity in Earnings of Afiliated Companies 0.4Exchange Gain/Loss 3.3

2. Extraordinary Income/Loss

Consolidated Total △ 12.0

Sale and Disposal of Fixed Assets 3.7Loss on revaluation of investment securities △ 15.9Others 0.2

12FY 1Q

Supplementary Information -3Historical Data - For 5 Years -

24

3-1. Consolidated Revenues & Incomes

Consolidated Revenues & Incomes

0

200

400

600

800

1,000

1,200

1,400

07F 08F 09F 10F 11F

（billion yen）

▲ 100

▲ 50

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100

150（billion yen）

Operating Revenues Operating Income Ordinary Income Net Income

25

3-2. Consolidated Total Assets/Shareholders’ Equity

Consolidated Total Assets/Shareholders’ Equity

0

200

400

600

800

1,000

1,200

07F 08F 09F 10F 11F

（billion yen）

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50（multiple）

Total Assets Shareholders Equity DER（Market Price Base）

26

3-3. Consolidated ROE / ROA

-100

-50

0

50

100

150

07F 08F 09F 10F 11F

（billion yen）

-25%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

30%

Net Income（billion yen） Ordinary Income ROE ROA

Consolidated ROE / ROA

27

3-4. Consolidated EV/EBITDA

EV/EBITDA

▲ 20

0

20

40

60

80

100

120

140

160

180

07F 08F 09F 10F 11F

（billion yen）

▲ 100

▲ 80

▲ 60

▲ 40

▲ 20

0

20

40

60

80

100（multiple）

EBITDA EV/EBITDA

28

3-5. Consolidated Assets Turnover

Consolidated Assets Turnover

0

200

400

600

800

1,000

1,200

1,400

07F 08F 09F 10F 11F

（billion yen）

0.00

0.20

0.40

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0.80

1.00

1.20

1.40

1.60

Operating Revenues Consolidated Assets Turnover

29

3-6. Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets

Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets

▲ 100

▲ 50

0

50

100

150

07F 08F 09F 10F 11F

（billion yen）

-10%

-5%

0%

5%

10%

15%

Ordinary Income Consolidated Ordinary Income on Revenues Ordinary Income on Total Assets

30

3-7. Consolidated Interest Coverage Ratio

Consolidated Interest Coverage Ratio

▲ 80

▲ 60

▲ 40

▲ 20

0

20

40

60

80

100

120

140

07F 08F 09F 10F 11F

（billion yen）

-10

-5

0

5

10

15

20

25

30(multiple)

Operating Income Interest Coerage Ratio

31

3-8. Consolidated Net Income / Operating Cash Flow

Consolidated Net Income / Operating Cash Flow

▲ 100

▲ 50

0

50

100

150

200

07F 08F 09F 10F 11F

（billion yen）

Net Income Operating Cash Flow

32

3-9. Consolidated Segment Information

* From 2010FY, business segments have been revised.

（Unit: million yen）10F 11F

Operating Revenues

Containership Business 444,971 395,460 Bulk Shipping Business 447,111 463,507 Other Business 93,002 113,342

Total 985,084 972,310Ordinary Income

Containership Business 29,005 ▲ 41,772 Bulk Shipping Business 16,991 ▲ 8,628 Other Business 4,739 6,605

Total 50,735 ▲ 43,795Eliminations ▲ 3,385 ▲ 5,160

Consolidated 47,350 ▲ 48,955

（Unit: million yen）07F 08F 09F

Operating Revenues

Marine Transportation 1,176,944 1,110,475 729,683 Freight Forwarting / Harbor Transportation

131,315 108,874 87,918

Others 22,789 24,968 20,431Total 1,331,048 1,244,317 838,033

Operating Income Marine Transportation 113,577 60,005 ▲ 59,060 Freight Forwarting / Harbor Transportation

13,715 9,289 4,726

Others 2,187 2,234 2,176Total 129,479 71,528 ▲ 52,158

Eliminations 170 76 83Consolidated 129,649 71,604 ▲ 52,075

33

3-10. Non-Consolidated Financial Data

（Unit: million yen）07F 08F 09F 10F 11F

Operating Revenues 1,063,704 960,109 631,747 772,321 737,994 Container 559,246 497,388 332,649 419,248 373,938 Bulk Carrier & Car Carrier 457,799 414,964 254,442 305,522 323,664 Energy Transportation 44,608 45,766 42,332 44,825 38,826 Other Shipping Business 899 798 956 1,407 371 Other Business 1,152 1,193 1,368 1,319 1,195

Operating Income 89,715 24,613 ▲ 59,462 41,656 ▲ 49,377Ordinary Income 88,422 20,763 ▲ 53,731 41,162 ▲ 48,743Net Income 58,938 799 ▲ 56,949 24,620 ▲ 34,972　

Totatl Assets 541,450 498,022 569,028 580,087 557,863Total Liabilities 283,375 272,517 363,076 376,444 396,753Shareholder's Equity 258,075 225,505 205,952 203,642 161,110

09 02-12 kline results-q1-2

Business

Transcript of 09 02-12 kline results-q1-2