日本海事新聞ニュース Japan Maritime Daily Jun 02, 2025 (Mon)

‌【Interview】President Otani of Iino Lines, on maximizing profits through optimal vessel allocation

Iino Lines President Yusuke Otani

　--Ordinary income for FY 2024 was 17.3 billion yen, down 20% from the previous period.　“FY 2024 is ・・・ 続きはログインして下さいnext %E3%80%80--Ordinary+income+for+FY+2024+was+17.3+billion+yen%2C+down+20%25+from+the+previous+period.%3Cbr%3E%E3%80%80%E2%80%9CFY+2024+is+the+second+year+of+our+medium-term+management+plan%2C+%E2%80%99The+Adventure+to+Our+Sustainable+Future.%E2%80%99+Although+profits+decreased%2C+they+exceeded+the+numerical+targets+set+out+in+the+mid-term+plan.+As+net+profit+also+exceeded+expectations%2C+the+company+decided+to+pay+additional+dividends.+The+market+for+our+mainstay+chemical+tankers+started+off+strong+but+started+to+show+signs+of+slowing+down+in+the+second+half+of+the+year.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CDuring+the+period%2C+we+sold+one+ocean-going+LNG+%28liquefied+natural+gas%29+carrier+upon+the+expiration+of+its+charter+contract.+There+are+no+longer+any+ocean-going+LNG+carriers+for+which+our+company+provides+ship+management.+There+are+LNG+carriers+in+which+we+have+an+ownership+interest.+At+the+same+time%2C+we+have+begun+to+manage+LPG+%28liquefied+petroleum+gas%29+dual-fuel+VLGCs+%28Very+Large+LPG+Carriers%29+by+ourselves.+We+will+accumulate+knowledge+about+dual-fuel+ships+and+prepare+for+full-scale+fuel+conversion.%E2%80%9C%3Cbr%3E%E3%80%80%E2%96%A0+Focus+on+the+indirect+effects+of+tariffs%3Cbr%3E%E3%80%80--Ordinary+income+forecast+for+FY+2025+is+11.5+billion+yen%2C+down+34%25+from+the+previous+period.%3Cbr%3E%E3%80%80%E2%80%9CWe+expect+the+global+economic+downturn%2C+particularly+in+China%2C+to+have+a+negative+impact+on+seaborne+cargo+movements+of+petrochemical+products+and+LPG.+China+will+be+the+country+most+affected+by+US+tariff+policies.+The+United+States+and+China+recently+reached+an+agreement+to+reduce+additional+tariffs%2C+but+we+will+continue+to+closely+monitor+how+the+negotiations+progress.+Exchange+rate+fluctuations+are+also+expected+to+have+a+major+impact.%E2%80%9C%3Cbr%3E%E3%80%80--What+impact+will+the+US+tariff+policy+have%3F%3Cbr%3E%E3%80%80%E2%80%9CThere+will+be+no+direct+impact+on+our+chemical+tanker%2C+large+gas+carrier+or+dry+bulk+carrier+businesses.+There+may+be+indirect+effects%2C+such+as+a+decline+in+consumption+due+to+tariffs%2C+slowing+demand+for+petrochemical+products%2C+etc.%E2%80%9C%3Cbr%3E%E3%80%80--What+will+be+your+key+priorities+for+FY+2025%2C+the+final+fiscal+year+of+the+medium-term+plan%3F%3Cbr%3E%E3%80%80%E2%80%9CThe+ordinary+income+target+for+FY+2025%2C+the+final+fiscal+year+of+the+medium-term+plan%2C+is+13+to+14+billion+yen.+The+company%E2%80%99s+earnings+forecast+for+this+period+is+not+expected+to+meet+that+target.+Our+big+challenge+is+how+to+secure+profits+that+exceed+our+earnings+forecast+and+achieve+the+targets+of+our+mid-term+plan.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CEven+in+the+current+poor+market+conditions%2C+we+will+focus+on+maximizing+profits+through+optimal+vessel+allocation%2C+such+as+improving+COA+%28Contract+of+Affreightment%29+terms+and+utilizing+our+overseas+network+to+quickly+obtain+accurate+information+and+acquire+optimal+spot+cargo.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CCosts+are+generally+rising+due+to+inflation.+We+will+review+costs+once+again+and+aim+to+maximize+profits+by+cutting+costs+where+possible.%E2%80%9C%3Cbr%3E%E3%80%80%E2%96%A0+Continuing+to+invest+despite+difficulties%3Cbr%3E%E3%80%80--The+company+plans+to+invest+100+billion+yen+during+the+medium-term+plan+period.+How+is+the+progress%3F%3Cbr%3E%E3%80%80%E2%80%9CCurrent+progress+is+85%25+of+the+100+billion+yen.+We+will+work+to+carry+out+the+remaining+15%25+by+the+end+of+FY+2025%2C+the+final+fiscal+year+of+the+medium-term+plan.+The+focus+of+our+environmental+investments+is+on+large+gas+carriers+and+VLCCs+%28Very+Large+Crude+Carriers%29%2C+and+while+investment+in+dual-fuel+ships+has+progressed+smoothly%2C+investment+in+chemical+tankers+and+dry+bulk+carriers+has+lagged+behind.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CWe+are+continuing+to+have+discussions+with+shippers+about+the+introduction+of+dual-fuel+ships%2C+but+it+will+likely+be+some+time+before+the+market+becomes+one+where+the+costs+of+environmentally+friendly+ships+are+justified.+No+matter+how+environmentally+friendly+a+product+is%2C+if+it%E2%80%99s+not+economically+justifiable%2C+we+can%E2%80%99t+place+an+order+for+it.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9COn+the+other+hand%2C+the+existing+core+fleet+is+gradually+aging.+If+no+action+is+taken%2C+the+fleet+will+inevitably+be+reduced.+We+need+to+continue+investing+to+keep+the+business+going.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9COrdering+new+ships+that+use+heavy+oil+is+also+an+option.+The+fuel+efficiency+of+modern+heavy+oil-fired+ships+has+improved+significantly+compared+to+the+past.+While+utilizing+cutting-edge+heavy+oil-fired+ships%2C+we+will+continue+to+consider+building+dual-fuel+ships+that+can+burn+LNG%2C+methanol%2C+etc.%E2%80%9C%3Cbr%3E%E3%80%80%E2%96%A0+Signs+of+change+in+logistics%3Cbr%3E%E3%80%80--What+is+the+outlook+for+the+chemical+tanker+market%3F%3Cbr%3E%E3%80%80%E2%80%9CRegarding+the+market+conditions+for+the+Middle+East-Asia+route%2C+which+is+our+specialty%2C+attention+is+being+paid+to+China%E2%80%99s+import+trends+of+petrochemical+products.+It+has+been+said+for+some+time+that+cargo+trade+will+change+as+China+is+able+to+produce+more+petrochemical+products+domestically.+This+trend+has+become+more+apparent+due+to+the+current+tariff+issue+and+China%E2%80%99s+economic+slowdown.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CChina%E2%80%99s+imports+of+petrochemical+products+are+falling+and+its+stocks+of+domestically+produced+petrochemical+products+are+increasing.+Petrochemical+products+that+were+scheduled+to+be+imported+from+the+United+States+are+being+resold+to+Europe+and+Southeast+Asia+to+avoid+tariffs.+Instead%2C+they+import+from+the+Middle+East%2C+where+there+are+no+tariffs.+The+flow+of+goods+is+beginning+to+change.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CSpot+freight+market+conditions+have+weakened+slightly%2C+but+I+don%E2%80%99t+think+they+will+get+worse.+This+is+because+the+supply+of+new+ships+is+limited.+However%2C+the+influx+of+MR+%28Medium+Range%29+product+carriers+is+a+cause+for+concern.+They+could+be+diverted+to+transport+palm+oil+and+other+commodities%2C+which+could+put+a+downward+pressure+on+the+chemical+tanker+market.%E2%80%9C%3Cbr%3E%E3%80%80--Why+did+you+change+your+dividend+payout+ratio+for+FY+2025+from+30%25+to+40%25%3F%3Cbr%3E%E3%80%80%E2%80%9CProfits+in+the+first+and+second+years+of+the+medium-term+plan+exceeded+initial+targets.+Equity+capital+also+increased.+Investments+are+also+proceeding+largely+according+to+plan.+In+response+to+these+factors%2C+we+have+sought+to+enhance+shareholder+returns+in+the+form+of+a+special+dividend+in+FY+2024.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CThe+net+profit+forecast+for+FY+2025+is+expected+to+be+11.5+billion+yen%2C+down+37%25+from+the+previous+period.+However%2C+the+total+amount+for+the+three-year+medium-term+plan+is+expected+to+exceed+the+plan.+Therefore%2C+the+company+decided+to+raise+its+dividend+payout+ratio+to+40%25.+The+new+medium-term+plan+covering+FY+2026+and+beyond+will+be+considered+over+the+next+year.+We+will+also+re-examine+our+dividend+policy%2C+including+share+buybacks.%E2%80%9C%3Cbr%3E%E3%80%80--The+medium-term+plan+states+that+%E2%80%9Cstrengthening+human+capital%E2%80%9C+is+one+of+the+key+issues.%3Cbr%3E%E3%80%80%E2%80%9CIt%E2%80%99s+people+that+drive+a+company.+We+implement+a+variety+of+measures+to+ensure+that+our+employees+feel+comfortable+and+motivated+in+their+work.+The+complete+renovation+of+the+head+office+is+also+part+of+this+effort.+Given+the+positive+performance+of+the+past+few+years%2C+we+have+also+improved+our+salary+conditions.%E2%80%9C%3Cbr%3E%E3%80%80%E2%80%9CEach+person+will+maximize+their+abilities+and+get+a+better+contract.+Achieve+business+efficiency.+Reduce+costs.+As+a+result%2C+we+aim+to+create+a+system+that+is+good+for+both+employees+and+the+company.%E2%80%9C%3Cbr%3E%28Posted+regularly%29%3Cbr%3E%E3%80%80Yusuke+Otani+graduated+from+Meiji+University+School+of+Law+in+1991+and+joined+%3Cb%3EIino+Lines%3C%2Fb%3E.+In+2018%2C+he+became+an+Executive+Officer%2C+in+2020+a+Director+and+Executive+Officer%2C+in+2021+a+Director%2C+Managing+Executive+Officer%2C+and+has+held+his+current+position+since+April+2023.+Born+in+Tokyo%2C+57+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　25年度の舵取り】(3)飯野海運社長・大谷祐介氏、最善の配船に集中

2025/06/02(月)

日本海事新聞 JMD

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