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日本海事新聞ニュース Japan Maritime Daily Aug 07, 2024 (Wed)

Japanese maritime sector on high alert as Yen soars to 145

 On the afternoon of August 6, the yen was trading at 145 yen to the dollar on the Tokyo foreign exc ・・・ %E3%80%80On+the+afternoon+of+August+6%2C+the+yen+was+trading+at+145+yen+to+the+dollar+on+the+Tokyo+foreign+exchange+market.+Shipping+majors+are+facing+a+yen+appreciation+of+up+to+10+yen%2C+as+the+rates+for+their+April-June+2024+period+financial+results+are+153-155+yen+to+the+dollar.+Japanese+shipowners+and+shipyards+also+earn+a+lot+of+revenue+in+dollars.+Exchange+rate+fluctuations+are+also+an+inherent+problem+for+Japanese+shipping+and+shipbuilding%2C+and+rapid+%3Cb%3Eappreciation+of+the+yen%3C%2Fb%3E+has+led+to+many+management+crises+in+the+past.+%3Cbr%3E%E3%80%80The+three+shipping+majors%2C+NYK%2C+MOL%2C+and+%E2%80%9CK%E2%80%9DLine%2C+have+dollar+revenues+that+account+for+around+80%25+of+their+total+sales%2C+making+them+stand+out+from+other+companies+listed+on+the+Tokyo+Stock+Exchange+Prime+Market.+Some+of+this+is+offset+by+dollar+expenses+and+dollar+repayments%2C+but+%E2%80%9Cthe+impact+of+exchange+rates+is+large+as+we+convert+to+yen+at+the+first+and+second+half+of+a+fiscal+year%2C%E2%80%9C+said+a+financial+officer+at+a+shipping+major.+%3Cbr%3E%E3%80%80The+shipping+majors%E2%80%99+assumptions+for+the+second+half+of+the+year+are+150+yen+to+the+dollar+for+NYK+and+MOL%2C+and+140+yen+to+the+dollar+for+%E2%80%9CK%E2%80%9DLine.+The+sensitivity+of+a+1+yen+fluctuation+to+ordinary+profit+and+loss+is+approximately+2.1+billion+yen+for+NYK%2C+2.6+billion+yen+for+MOL%2C+and+1.6+billion+yen+for+%E2%80%9CK%E2%80%9DLine.+%3Cbr%3E%E3%80%80The+strong+yen+has+an+even+bigger+impact+on+Japanese+shipowners+than+it+does+on+shipping+majors.+Japanese+ship+owners+rent+out+their+ships+to+operators+%28shipping+companies%29+and+receive+charter+fees+as+their+income.+In+many+cases%2C+charter+revenue+is+paid+100%25+in+dollars.+%3Cbr%3E%E3%80%80On+the+other+hand%2C+when+shipowners+obtain+loans+in+yen+from+local+banks%2C+their+yen+income+decreases+due+to+the+strong+yen.+%E2%80%9CIn+the+past%2C+the+sudden+%3Cb%3Eappreciation+of+the+yen%3C%2Fb%3E+has+forced+several+shipowners+to+reschedule+%28reassess+their+repayment+plans%29%2C%E2%80%9C+said+a+ship+loan+officer+at+a+Japanese+regional+bank.+%3Cbr%3E%E3%80%80The+strong+yen+is+not+irrelevant+to+shipyards+either.+In+the+shipbuilding+industry%2C+ship+prices+in+dollars+are+the+international+standard.+Similar+to+the+shipping+majors%E2%80%99+situation%2C+they+need+to+convert+sales+revenue+from+selling+new+ships+in+dollars+to+yen.+%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%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