日本海事新聞ニュース Japan Maritime Daily Jul 05, 2024 (Fri)

‌【Interview】President Hashimoto of MOL, to focus on overseas M&A

MOL President Tsuyoshi Hashimoto

　--In the previous period, which was the first fiscal year of the management plan “BLUE ACTION 2035, ・・・ 続きはログインして下さいnext %E3%80%80--In+the+previous+period%2C+which+was+the+first+fiscal+year+of+the+management+plan+%E2%80%9CBLUE+ACTION+2035%2C%E2%80%9C+the+company+recorded+a+consolidated+ordinary+profit+of+258.9+billion+yen.+%3Cbr%3E%E3%80%80%E2%80%9CWe+were+blessed+with+a+relatively+favorable+market+environment%2C+and+were+able+to+get+our+business+plan+off+to+a+smooth+start.+Profits+from+PCTCs+and+chemical+tankers+were+better+than+expected%2C+and+the+supply+and+demand+for+container+ships%2C+which+had+been+a+cause+for+concern%2C+tightened+as+ships+avoided+sailing+through+the+Red+Sea.+As+a+result%2C+our+earnings+recovered.%E2%80%9D+%3Cbr%3E%E3%80%80%E2%80%9CInvestments+are+also+progressing+faster+than+planned.+Investments+in+LNG+%28liquefied+natural+gas%29+carriers%2C+FSRUs+%28Floating+Storage+and+Regasification+Units%29%2C+M%26A+%28mergers+and+acquisitions%29+and+real+estate+are+steadily+building+up.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Expectations+for+automobiles+and+energy+%3Cbr%3E%E3%80%80--While+ordinary+profit+is+expected+to+decrease+by+11%25+this+period%2C+business+profit+%28the+sum+of+operating+income+and+equity+method+investment+income%29%2C+which+indicates+the+strength+of+the+business%2C+is+expected+to+increase+by+21%25.+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+high+expectations+for+our+PCTC+business%2C+and+our+investments+in+LNG+carriers+and+offshore+businesses+will+contribute+substantially+to+our+profits.+Therefore%2C+our+ability+to+generate+income+will+improve+compared+to+the+previous+period.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+believe+that+the+supply+and+demand+balance+for+PCTCs+will+not+ease+this+period%2C+and+next+year+will+be+a+critical+time+when+the+number+of+newly+completed+ships+around+the+world+reaches+its+peak.+We+are+currently+switching+our+transportation+contract+periods+from+our+traditional%2C+core+spot+contracts+to+longer-term+contracts+in+an+effort+to+stabilize+earnings.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CContainer+ship+freight+rates+soared+as+ship+supply+was+absorbed+due+to+bypassing+the+Cape+of+Good+Hope+to+avoid+the+Red+Sea%2C+while+cargo+movements+increased+due+to+shippers+building+up+inventory+out+of+concerns+about+geopolitical+risks.+It+is+highly+likely+that+containership+revenues+in+the+first+half+of+the+year+will+exceed+our+forecast%2C+but+it+is+difficult+to+judge+what+will+happen+in+the+second+half+and+beyond%2C+including+the+situation+in+the+Middle+East.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CAs+for+Ocean+Network+Express+%28ONE%29%2C+six+years+have+passed+since+the+service+began+and+the+business+foundation+has+been+established.+Therefore%2C+from+now+on%2C+the+key+will+be+to+establish+a+supervisory+system+to+strengthen+the+management+structure.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+FSRU+Major+%3Cbr%3E%E3%80%80--What+is+your+investment+policy+for+LNG+carriers%3F+%3Cbr%3E%E3%80%80%E2%80%9CWe+will+be+more+proactive+from+this+period+onwards%2C+but+competition+is+becoming+fiercer.+With+shipping+companies+other+than+COSCO+entering+the+market+from+China+and+other+Asian+shipping+lines+also+joining%2C+some+deals+are+not+achieving+the+expected+profit+margins.+We+would+like+to+expand+our+business+to+include+FSRUs+and+FLNG+%28floating+LNG+production+facilities%29+to+increase+our+profit+margins.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CFSRUs+have+limited+competition+so+margins+are+good.+In+addition+to+the+new+construction+and+modification+projects+we+have+accumulated+in+the+past%2C+we+won+a+contract+in+Poland+this+spring.+There+are+a+few+other+deals+we+are+pursuing.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CAs+the+only+FSRU+operator+in+Asia%2C+we+are+establishing+ourselves+as+a+major+player+alongside+Europe%E2%80%99s+H%C3%B6egh+and+Excelerate.+One+of+our+strengths+is+that+we+own+a+large+number+of+old+Moss+tank-type+LNG+carriers%2C+which+we+can+gradually+convert+and+use+for+FSRU+projects.%E2%80%9C+%3Cbr%3E%E3%80%80--What+are+your+key+investment+areas+from+this+period+onwards%3F+%3Cbr%3E%E3%80%80%E2%80%9CGeopolitical+changes+are+making+it+a+little+more+difficult+to+grow+our+business+in+Russia+and+China+as+quickly+as+we+have+in+the+past.+Meanwhile%2C+the+presence+of+the+Global+South+%28emerging+countries+mainly+in+the+Southern+Hemisphere%29+is+growing.+Going+forward%2C+we+will+aim+to+expand+our+business+in+Brazil%2C+Indonesia%2C+Africa%2C+and+other+countries+in+addition+to+India.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CM%26A+is+a+powerful+tool+for+achieving+this.+Perhaps+because+we+are+now+recognized+as+a+company+that+can+make+swift+M%26A+decisions%2C+we+are+receiving+more+and+more+promising+deals.%E2%80%9C+%3Cbr%3E%E3%80%80--The+Japanese+government+is+considering+amending+the+law+to+allow+overseas+M%26A+using+company+stocks.+%3Cbr%3E%E3%80%80%E2%80%9CAs+the+weak+yen+raises+the+hurdles+for+overseas+M%26A%2C+utilizing+company+stocks+is+one+solution.+Being+able+to+use+our+own+stocks+for+large-scale+deals+expands+our+M%26A+options.+We+would+also+like+to+consider+acquiring+our+own+stocks+from+the+market%2C+holding+them+as+treasury+stocks%2C+and+using+them+for+future+large-scale+overseas+M%26A.%E2%80%9C+%3Cbr%3E%E3%80%80--The+dry+bulk+business+is+expected+to+experience+a+decline+in+profits+this+period.+%3Cbr%3E%E3%80%80%E2%80%9CThe+larger+Capesize+vessels+operate+mainly+on+long-term+contracts%2C+so+we+are+not+too+worried.+%3Cb%3EMOL%3C%2Fb%3E+Drybulk%2C+which+mainly+consists+of+small+and+medium-sized+vessels%2C+is+our+challenge.+It+is+exposed+to+market+fluctuations%2C+so+it+needs+to+optimize+the+balance+between+ships+and+cargo+through+detailed+market+analysis.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+believe+that+Gearbulk%2C+a+group+company+that+specializes+in+transporting+special+cargo+such+as+pulp+%28announced+on+June+25+that+it+will+become+a+consolidated+subsidiary%29%2C+is+an+interesting+sector+in+the+medium+to+long+term.+Aiming+for+synergy+with+our+energy+division%2C+which+is+our+strength%2C+we+would+like+to+demonstrate+our+strengths+in+niche+markets+such+as+heavy+equipment+and+plants+in+the+future.%E2%80%9C+%3Cbr%3E%E3%80%80--In+March%2C+the+company+decided+to+acquire+Fairfield+Chemical+Carriers%2C+a+U.S.+chemical+tanker+company.+%3Cbr%3E%E3%80%80%E2%80%9CCurrently%2C+our+chemical+tanker+subsidiary%2C+%3Cb%3EMOL%3C%2Fb%3E+CHEMICAL+TANKERS%2C+is+working+on+PMI+%28post-merger+integration%29.+The+company+has+strengths+in+business+from+Asia+to+the+Middle+East.+Through+the+acquisition+of+Fairfield+and+Nordic+Tankers+in+2019%2C+it+has+gained+a+sales+base+in+the+Atlantic%2C+South+American+and+South+African+routes+and+is+working+to+establish+a+global+network-based+service.%E2%80%9D+%3Cbr%3E%E3%80%80%E2%80%9CCompared+to+major+European+chemical+tanker+companies+Stolt+and+Odfjell%2C+our+fleet+is+about+the+same+size%2C+but+our+network+is+stronger.+We+also+want+to+strengthen+our+tank+container+and+tank+terminal+businesses+by+combining+them+with+LNG+and+LPG+%28liquefied+petroleum+gas%29.+In+the+future%2C+we+are+looking+forward+to+capturing+increased+logistics+for+new+fuels+such+as+ammonia+and+methanol.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+International+Cooperation+and+Japan+%3Cbr%3E%E3%80%80--What+are+your+thoughts+on+corporate+collaboration+toward+decarbonization%3F+%3Cbr%3E%E3%80%80%E2%80%9CThere+are+various+formations%2C+and+shipping+companies+in+Northern+Europe+and+Greece+are+without+regard+to+their+own+countries%2C+but+are+trying+to+cooperate+globally.+Our+company+has+also+participated+in+the+World+Economic+Forum+and+other+forums%2C+and+has+strengthened+its+orientation+to+ride+the+global+trend.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9COn+the+other+hand%2C+for+the+sake+of+Japan%E2%80%99s+economic+security%2C+there+is+also+the+idea+of+Japanese+carriers+working+together+to+build+new+fuel+ships+at+Japanese+shipyards.+The+key+to+establishing+such+an+all-Japan+system+will+be+government+support+and+the+seriousness+of+the+shipbuilding+industry.+The+direction+will+likely+be+decided+in+the+near+future.%E2%80%9C+%3Cbr%3E%E3%80%80--In+April%2C+there+were+major+changes+to+Executive+Officers%E2%80%99+responsibilities.+%3Cbr%3E%E3%80%80%E2%80%9CWhen+you+keep+doing+just+one+job+for+a+long+time%2C+your+thinking+tends+to+become+narrow.+To+achieve+significant+growth%2C+maintaining+the+status+quo+is+not+enough.+By+bringing+in+an+outside+perspective%2C+we+want+to+review+the+business+objectively+and+create+a+system+that+will+enable+us+to+make+well-balanced+decisions%2C+such+as+proactive+M%26A+and+reshuffling+our+business+portfolio.%E2%80%9C+%3Cbr%3E%28Published+from+time+to+time%29+%3Cbr%3E+%3Cbr%3E%E3%80%80Tsuyoshi+Hashimoto+graduated+from+the+Faculty+of+Letters%2C+Kyoto+University+in+1982+and+joined+Mitsui+O.S.K.+Lines+%28now+%3Cb%3EMOL%3C%2Fb%3E%29.+He+was+appointed+Executive+Officer+in+2009%2C+Managing+Executive+Officer+in+2012%2C+Director%2C+Managing+Executive+Officer+in+2015%2C+Director%2C+Senior+Managing+Executive+Officer+in+2016%2C+Representative+Director+and+Vice+President+in+2019%2C+and+has+held+his+current+position+since+April+2021.+Born+in+Tokyo%2C+66+years+old.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E

【海運トップに聞く　24年度の舵取り】(5)商船三井社長・橋本剛氏、海外M&A 自社株活用も

2024/07/05(金)

日本海事新聞 JMD

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