News Releases in 2006

July 18, 2006

Nippon Yusen Kaisha (NYK; Headquartered in Chiyoda-ku Tokyo:President: Koji Miyahara) has secured a five-year charter contract with EDF Trading.

This is the third, long-term charter contract for a bulk caririer that the NYK Group has secured with a European power supplier. In June this year, NYK Bulkship (Europe) Ltd agreed a ten-year charter contract with ENEL SPA Italy's largest electric company, for shipments using two post Panamax bulkers.

NYK's Capesize Bulker Group and Steaming Coal Group have secured many contracts with overseas power suppliers and steel manufacturers. In order to further expand their overseas business activities, NYK established the Capesize & Panamax Bulker Team in April of this year, integrating the Capesize Bulker and Steaming Coal Groups overseas business activities, which had previously been conducted independently.

This charter contract has been successfully secured thanks to the integration of these two groups as long-term charter contract of Capesize Bulker is used to be fixed by steel manufactureres.

As a result of the recent rise in petroleum prices, many electric suppliers around the world are focusing on fossil fuels such as coal, which is abundant and cost-efficient. Thus , the transport of coal is expected to increase.

Upon securing this contract with EDF Trading, NYK will further strive to expand its transportation business in response to everincreasing demand by effectively meeting the needs of power suppliers around the world.

Outline of charter contract:

Term of contract	5 years
Commencement	Second half of 2006
Carrier used	A new Capesize bulker (175000 tons) built by Namura Shipbuilding Co, Ltd

About EDF Trading
EDF Trading Limited is part of the EDF group, Europe's largest power utility and acts as EDF's exclusive wholesale market interface. The EDF Group owns or controls a wide range of assets, including contractual rights as well as physical plants and equipment.
Through its wholesale market trading activities, EDFT optimises the value of these assests for the benefit of the group. For example, EDFT is responsible for the market-based optimisation of EDF's French generation assets and for scheduling and optimising EDF's long-term export contracts.

EDFT is a leader in the European and international wholesale energy markets, actively trading across all the energy commodities, in both the physical and financial markets. The company participates in the liberalised energy markets to maximise the value of EDF's assets and optimise its own positions created through structured transactions. EDFT is a European market leader in each of its core markets - Power, Gas and coal - and is expanding activities globally in the freight and carbon emissions markets.