Supplementary Report - 2nd Quarter FY2013 -

October 2013 Kawasaki 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

Top 30 Container Carriers ranked by operating capacity as of October 2013

TOTALTEU

1 APM-Maersk 2,608,4702 Mediterranean Shg Co 2,373,9833 CMA CGM Group 1,502,5014 Evergreen Line 817,8485 COSCO Container L. 788,3756 Hapag-Lloyd 728,6737 Hanjin Shipping 647,5418 APL 641,6429 CSCL 593,43810 MOL 545,10011 OOCL 467,83412 NYK Line 458,71613 Hamburg Süd Group 443,90314 Yang Ming Marine Transport Corp. 378,79115 PIL (Pacific Int. Line) 375,39216 K Line 357,25417 Zim 337,31218 Hyundai M.M. 335,49319 UASC 283,13620 CSAV Group 268,32221 Wan Hai Lines 176,33622 HDS Lines 86,32023 X-Press Feeders Group 84,60124 KMTC 73,67725 NileDutch 73,55926 SITC 65,25327 TS Lines 64,41428 RCL (Regional Container L.) 50,18829 Simatech 46,81430 CCNI 44,171

Rank Alliance TEU1 APM-Maersk 2,608,4702 Mediterranean Shg Co 2,373,9833 CKYH 2,171,9614 GA 1,655,2235 TNWA 1,522,2356 CMA CGM Group 1,502,5017 Evergreen Line 817,8488 CSCL 593,4389 Hamburg Süd Group 443,90310 PIL (Pacific Int. Line) 375,392

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 GroupEvergreen Line

COSCO Container L.Hapag-Lloyd

Hanjin ShippingAPL

CSCLMOL

OOCLNYK Line

Hamburg Süd GroupYang Ming Marine Transport…

PIL (Pacific Int. Line)K Line

ZimHyundai M.M.

UASCCSAV Group

Wan Hai LinesHDS Lines

X-Press Feeders GroupKMTC

NileDutchSITC

TS LinesRCL (Regional Container L.)

SimatechCCNI

千(TEU)

4

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

1,000 TEU

5

1-3. “K” Line Container Volume & Share (Asia to North America ’03-’13)

20011H

20012H

20021H

20022H

20031H

20032H

20041H

20042H

20051H

20052H

20061H

20062H

20071H

20072H

20081H

20082H

20091H

20092H

20101H

20102H

20111H

20112H

20121H

20122H

20131H

KL Volume 172 195 208 235 244 251 248 280 291 334 325 374 382 439 361 384 300 352 332 343 314 329 330 413 369Share 4.8% 4.8% 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% 5.6% 5.1%

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

6

1-4. “K” Line Container Volume & Share (North America to Asia ’03-’13 )

20011H

20012H

20021H

20022H

20031H

20032H

20041H

20042H

20051H

20052H

20061H

20062H

20071H

20072H

20081H

20082H

20091H

20092H

20101H

20102H

20111H

20112H

20121H

20122H

20131H

KL Volume 108 111 103 108 113 111 108 109 116 120 134 126 128 146 192 166 168 214 195 172 182 191 208 235 220Share 6.0% 6.3% 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% 5.4% 6.0% 5.9%

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

TEU

TPS WB KL Results

KL Volume Share

7

1-5. “K” Line Container Volume & Share (Asia (ex.India) to Europe ’03-’13, )

8

1-6. “K” Line Container Volume & Share (Europe to Asia (ex.India) ’03-’13 )

9

1-7. Trend of Average Container Freight/Volume (“K” Line All Trades) （2004F-2013F2Q）

615 630617

595

661667

666657

711754 742

732

808825

804 763

859 865

751

628

729

810 789

753

789790 777

738771 833 793 768 846

871

811

716

760787

1,108

1,178

1,175 1,1731,2071,250 1,243

1,1441,139

1,175 1,1461,143

1,220

1,349 1,301 1,2991,337 1,403

1,283

984

855909

1,0121,147

1,315

1,440

1,283 1,2351,249

1,1811,108 1,120

1,3151,323

1,242

1,262 1,2211240

0

200

400

600

800

1,000

1,200

1,400

1,600

0

100

200

300

400

500

600

700

800

900

1000

04F 1Q

04F 2Q

04F 3Q

04F 4Q

05F 1Q

05F 2Q

05F 3Q

05F 4Q

06F 1Q

06F 2Q

06F 3Q

06F 4Q

07F 1Q

07F 2Q

07F3Q

07F4Q

08F1Q

08F2Q

08F3Q

08F4Q

09F1Q

09F2Q

09F3Q

09F4Q

10F1Q

10F2Q

10F3Q

10F4Q

11F1Q

11F2Q

11F3Q

11F4Q

12F1Q

12F2Q

12F3Q

12F4Q

13F1Q

13F2Q

Average Freight($)Volume (1000TEU)

Volume Freight

10

1-8. Dry Bulk Market

Dry Bulk Market (BDI)

11

1-9. Tanker Market

Tanker Market (VLCC AG/JPN)

12

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

0

20

40

60

80

100

1Q 2Q 3Q 4Q 1Ｑ 2Q 3Q 4Q 1Q 2Ｑ 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

2009F 2010F 2011F 2012F 2013F

10,000units

Japan・FE/North America Japan・FE/Europe Japan・FE/The Other Area

Trade not From/To Japan・FE Trade bound for Japan・FE Intra-Europe

3945

6366

7571

78 78 7381

9086

9184 84

76

8681

13

1-11. “K” Line Vessel Fleet Composition

Heavy Lifters

2013 March 16 ships

2013 Sept 16 ships

Offshore Energy E&P Support Ships

2013 March 8 ships

2013 Sept 8 ships

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).

14

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

13 13

18 18

26 26

2 2

13 13

3 3

300m 200m 100m 0m

Total 75 75

3,500TEU（3,400-4,700）

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

2,000TEU（1,500-2,500）

1,400TEU or under

2013 Mar 2013 Sept

8,000TEU

5,500TEU

K

K

K

K

K

K

15

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

Capesize 99 Capesize 97

Over Panamax 26 Over Panamax 30

Panamax 42 Panamax 52

Handymax 50 Handymax 50

Small Handy 22 Small Handy 21

Chip + Pulp 13 Chip + Pulp 12

0

20

40

60

80

100

120

140

160

180

200

220

240

260

2013 Mar 2013 Sept

Total 252 Total 262

16

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

LNG Carrier 43 LNG Carrier 43

Tanker/VLCC 8 Tanker/VLCC 8

Tanker/DIRTY 5 Tanker/DIRTY 5 Tanker/CLEAN 4 Tanker/CLEAN 4

LPG Carrier 5 LPG Carrier 5

Offshore Support Vessel 7 Offshore Support Vessel 7

Heavy Lifters16 Heavy Lifters16

0

10

20

30

40

50

60

70

80

90

100

2013 Mar 2013 Sept

Total 91 Total 92

17

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

Drillship 2013 Mar 1

2013 Sept 1

CHEMICAL Tanker

2013 Mar 2

2013 Sept 3

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).

18

1-16. Fleet Upgrading Plan

<Fleet Upgrading Plan> No. of vessels to be received FY2013-2016 FY2013 : 30 newbuildings to be delivered (12 vessels were already delivered by 2Q) FY2014 : 11 newbuildings to be delivered

2013F 2014F 2015F 2016F

To bedelivered

Alreadydelivered

by 2QTo be

deliveredTo be

deliveredTo be

deliveredContainership 0 () 1 4 0

14000TEU 1 4Dry Bulkers 23 (9) 8 10 1

Capesize 4 (2) 2 1Panamax 8 (2) 4 5Handymax 5 (4) 1Smallhandy 2 2Chip/PulpCorona 4 (1) 1 2 1

PCTC 4 () 0 4 06500units 47500units 4

LNG 0 () 0 1 2Tanker 1 (1) 1 0 0

LPG 1CHEMICAL 1 (1)

Energy New Biz 0 () 0 0 0OffshoreDrillship

Heavy Lifter 0 () 0 0 0Coastal 2 (2) 1 1 0Total 30 (12) 11 20 3

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 10 668,214 65 3,797,288 75 4,465,502 75 4,465,732

Dry Bulk Carriers 71 7,732,024 191 21,128,320 262 28,860,344 252 28,101,549

Car Carriers 36 536,205 61 890,024 97 1,426,229 95 1,384,768

LNG Carriers 42 3,476,851 1 77,163 43 3,554,014 43 3,554,014

Oil Tankers 11 1,647,663 14 2,072,739 25 3,720,402 24 3,686,850

Offshore Support Vessels 7 32,481 0 0 7 32,481 7 32,481

Drillships 1 - 0 - 1 - 1 -

Heavy Lifters 16 166,824 0 0 16 166,824 16 166,824

Short Sea and Coastalships 23 235,754 28 361,537 51 597,291 53 576,235

Total 217 14,496,016 360 28,327,071 577 42,823,087 566 41,968,453

Sept 2013 Mar 2013

Owned Chartered Total Total

Supplementary Information-2 - Financial Data -

21

2-1. Transition of Operating Revenues

22

2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2013FY 2Q)

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

13FY 1Q 13FY 2Q 1H AccumulatedConsolidated Total 3.6 ▲ 3.3 0.3Financial Gain/Loss ▲ 1.5 ▲ 2.2 ▲ 3.6Equity in Earnings of Affiliated Companies 0.7 0.8 1.5Exchange Gain/Loss 3.8 ▲ 1.7 2.0Others 0.6 ▲ 0.2 0.4

2.Extraordinary Income/Loss13FY 1Q 13FY 2Q 1H Accumulated

Consolidated Total ▲ 2.0 1.7 ▲ 0.3Sale and Disposal of Fixed Assets 2.5 0.7 3.2Gain/Loss on Revaluation of Invstment Securities ▲ 2.9 0.3 ▲ 2.6Others ▲ 1.5 0.7 ▲ 0.9

Supplemental Information -3 Historical Data - For 5 Years -

24

3-1. Consolidated Revenues & Incomes

▲ 80

▲ 60

▲ 40

▲ 20

0

20

40

60

80

0

200

400

600

800

1,000

1,200

1,400

08F 09F 10F 11F 12F

（billion yen） （billion yen）

Consolidated Revenues & Incomes

Operating Revenues Operating Income Ordinary Income Net Income

25

3-2. Consolidated Total Assets/Shareholders’ Equity

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

0

200

400

600

800

1,000

1,200

1,400

08F 09F 10F 11F 12F

（multiple） （billion yen）

Consolidated Total Assets/Shareholders’ Equity

Total Assets Shareholders Equity DER（Market Price Base）

26

3-3. Consolidated ROE / ROA

-25%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

-80

-60

-40

-20

0

20

40

60

80

08F 09F 10F 11F 12F

（billion yen）

Net Income（billion yen） Ordinary Income ROE ROA

Consolidated ROE / ROA

27

3-4. Consolidated EV/EBITDA

▲ 30 ▲ 20 ▲ 10

01020304050607080

▲ 60

▲ 40

▲ 20

0

20

40

60

80

100

120

08F 09F 10F 11F 12F

（multiple） （billion yen）

EV/EBITDA

EBITDA EV/EBITDA

28

3-5. Consolidated Assets Turnover

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

0

200

400

600

800

1,000

1,200

1,400

08F 09F 10F 11F 12F

（billion yen） Consolidated Assets Turnover

Operating Revenues Consolidated Assets Turnover

29

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

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

▲ 80

▲ 60

▲ 40

▲ 20

0

20

40

60

80

08F 09F 10F 11F 12F

（billion yen）

Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets

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

30

3-7. Consolidated Interest Coverage Ratio

-8

-6

-4

-2

0

2

4

6

8

10

12

14

▲ 60

▲ 40

▲ 20

0

20

40

60

80

08F 09F 10F 11F 12F

(multiple) （billion yen） Consolidated Interest Coverage Ratio

Operating IncomeInterest Coerage Ratio

31

3-8. Consolidated Net Income / Operating Cash Flow

▲ 80

▲ 60

▲ 40

▲ 20

0

20

40

60

80

100

08F 09F 10F 11F 12F

（billion yen）

Consolidated Net Income / Operating Cash Flow

Net Income Operating Cash Flow

32

3-9. Consolidated Segment Information

* From 2010FY, business segments have been revised.

（Unit: million yen）

08F 09FOperating Revenues

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

108,874 87,918

Others 24,968 20,431Total 1,244,317 838,033

Operating Income

Marine Transportation 60,005 ▲ 59,060 Freight Forwarting / Harbor Transportation

9,289 4,726

Others 2,234 2,176Total 71,528 ▲ 52,158

Eliminations 76 83Consolidated 71,604 ▲ 52,075

（Unit: million yen）

10F 11FOperating 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

* From 2012FY, business segments have been revised.

（Unit: million yen）

12FOperating Revenues

Containership Business 552,810 Bulk Shipping Business 502,571 Offshore Energy E&PSupport & Heavy Lifter

35,712

Other Business 43,678Total 1,134,771

Ordinary Income

Containership Business 6,630 Bulk Shipping Business 24,064 Offshore Energy E&PSupport & Heavy Lifter

▲ 2,422

Other Business 6,566Total 34,839

Eliminations ▲ 6,250Consolidated 28,589

33

3-10. Non-Consolidated Financial Data

（Unit: million yen）

08F 09F 10F 11F 12FOperating Revenues 960,109 631,747 772,321 737,994 834,218 Container 497,388 332,649 419,248 373,938 434,172 Bulk Carrier & Car Carrier 414,964 254,442 305,522 323,664 364,860 Energy Transportation 45,766 42,332 44,825 38,826 34,104 Other Shipping Business 798 956 1,407 371 23 Other Business 1,193 1,368 1,319 1,195 1,059

Operating Income 24,613 ▲ 59,462 41,656 ▲ 49,375 ▲ 7,017Ordinary Income 20,763 ▲ 53,731 41,162 ▲ 48,748 13,643Net Income 799 ▲ 56,949 24,620 ▲ 37,044 ▲ 4,168　

Totatl Assets 498,022 569,028 580,087 557,862 575,488Total Liabilities 272,517 363,076 376,444 396,753 363,342Shareholder's Equity 225,505 205,952 203,642 161,109 212,146