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Yara contracts ammonia carriers on long-term charter

Dec 15, 2004
Yara has entered into long-term time charters for two 38,000 cubic meters, fully refrigerated ammonia/LPG carriers. Yara will be responsible for the commercial operation of the vessels, while K-line will own the vessels and be responsible for the technical and crewing management. 
"These contracts will further strengthen Yara's role as the global leader in ammonia trade and shipping. They will give Yara necessary increased shipping capacity at a predictable and attractive cost level. For K-Line the contracts will ensure a stable return on investment and a strengthened position in the ammonia segment," says Sven Ombudstvedt, Senior Vice President of Yara Upstream.
Both companies are confident to see their position strengthened within ammonia shipping as a result of the steadily growing demand for ammonia as a base product for fertilizer and industrial applications.   
Egil Hogna, Investor Relations
Telephone  (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen based chemicals and is the leading supplier of liquid CO2.
K-Line (Kawasaki Kisen Kaisha, Ltd.) is one of the leading shipping companies in the world. With it's fleet of about 300 ocean-going vessels, K-Line's logistical services meet a variety of customer needs by integrating regional logistics handling capabilities throughout the world. K-Line's shipping services contains Containership/Terminal, Bulk Carrier, Car Carrier and Energy Resource Transportation including LNG, LPG, and Oil tankers.
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