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日本海事新聞ニュース Japan Maritime Daily Jan 27, 2026 (Tue)

Interview: Inui Global Logistics CEO Reveals Strategic Fleet Expansion After 4-Year Break, Aiming for 10-11 Vessels

Yasuyuki Inui, President of Inui Global Logistics
　--This fiscal year, the company expects to incur an operating loss of 500 million yen in the ocean- ・・・ %E3%80%80--This+fiscal+year%2C+the+company+expects+to+incur+an+operating+loss+of+500+million+yen+in+the+ocean-going+shipping+business+segment.+%3Cbr%3E%E3%80%80%E2%80%9CWith+four+new+ships+being+completed+between+FY2024+and+FY2025%2C+depreciation+expenses+are+higher+than+usual.+As+this+is+an+impact+that+we+had+already+anticipated%2C+we+are+not+viewing+it+as+a+deterioration+in+our+performance+for+this+fiscal+year.%E2%80%9C+%3Cbr%3E%E3%80%80--What+is+the+reason+the+new+ships+were+all+completed+between+FY2024+and+FY2025%3F+%3Cbr%3E%E3%80%80%E2%80%9CWorking+backwards+from+the+2050+net-zero+shipping+target%2C+we+have+set+the+target+retirement+age+for+merchant+ships+at+25%2C+and+have+considered+that+2025+or+thereabouts+will+be+the+final+chance+to+build+conventional+heavy+oil-fired+ships.+I+think+it+will+be+difficult+to+develop+the+fleet+from+the+same+perspective+after+that.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+decision+to+order+these+new+ships+was+made+around+fall+2021.+Since+then%2C+we+have+been+pondering+expanding+our+fleet+for+about+four+years%2C+and+have+been+unable+to+take+the+plunge+into+negotiating+newbuilding+orders+or+long-term+chartering.%E2%80%9C+%3Cbr%3E%E3%80%80--What+are+your+plans+for+the+next+series+of+new+ships%3F+%3Cbr%3E%E3%80%80%E2%80%9CI+feel+that+now+is+the+right+time+to+resume+fleet+development+after+a+four-year+hiatus.+If+we+do+nothing%2C+our+fleet+will+shrink.+It+feels+like+three+or+four+years%E2%80%99+worth+of+%E2%80%99homework%E2%80%99+has+piled+up+like+a+mountain.+We+began+taking+action+this+fall+in+response+to+the+overall+downsizing+trend+and+to+maintain+our+business+going+forward.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWhile+there+is+no+right+or+wrong+answer+when+it+comes+to+choosing+a+fuel+for+ships+we+will+build%2C+a+shipowner+in+Hakatajima+%28in+Imabari%2C+Ehime+Prefecture%29+advocates+%E2%80%99Today%E2%80%99s+Best+%26+Something+New%E2%80%99+%28building+the+best+ship+available+today%29%2C+which+is+a+rational+solution+for+small+Handy+type+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CI+hear+that+the+Hakatajima+shipowner+is+fascinated+by+a+new+type+of+rudder+called+%E2%80%99Gate+Rudder%E2%80%99.+The+shipowner+also+vigorously+advocated+the+introduction+of+scrubbers+%28exhaust+gas+cleaning+systems%29+when+the+SOx+%28sulfur+oxide%29+regulations+came+into+effect+in+2020%2C+and+our+company+had+a+lot+to+learn+from+him.+From+now+on%2C+making+fleet+development+plans%2C+which+have+no+absolute+solution%2C+will+become+increasingly+difficult.+We+would+like+to+learn+from+the+challenges+of+wise+and+bold+shipowners+and+continue+to+innovate%2C+such+as+exploring+areas+for+collaboration.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Restore+charter+ratio+%3Cbr%3E%E3%80%80--What+approach+to+fleet+development+are+you+considering+this+time%3F+%3Cbr%3E%E3%80%80%E2%80%9COur+fleet+of+29+Handysize+vessels+consists+of+22+owned+vessels+and+seven+on+long-term+charter.+The+charter+ratio+of+the+controlled+vessels+is+25%25%2C+which+has+been+intentionally+reduced%2C+so+there+is+room+to+increase+it.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+risk+of+obsolescence+in+owning+new+ships+has+not+been+eliminated.+If+there+is+capacity+to+charter+ships%2C+hiring+shipowners+is+a+straightforward+idea.+In+addition%2C+I+believe+we+should+consider+chartering+not+only+new+ships+but+also+secondhand+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIn+2016%2C+when+the+charter+ratio+was+high+and+the+market+was+sluggish%2C+we+suffered+greatly+from+loss+margin+on+long-term+charter+fees.+From+there%2C+taking+advantage+of+the+benefits+of+business+integration%2C+we+adopted+a+%E2%80%99moderate+ownership+policy%E2%80%99+and+shifted+our+emphasis+to+ship+ownership.+At+the+same+time%2C+looking+back+our+effort+into+what+we+called+the+%E2%80%99Gochoju+Otassha%E2%80%99+project+%28a+project+aimed+at+extending+the+lifespan+of+the+company%E2%80%99s+ships+by+taking+good+care+of+them%29+to+improve+capital+efficiency%2C+I+feel+that+we+have+now+entered+the+next+phase.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Building+10-11+ships+rapidly+%3Cbr%3E%E3%80%80--What+is+the+scale+of+this+fleet+development%3F+%3Cbr%3E%E3%80%80%E2%80%9CIf+we+do+a+simple+calculation+to+cover+the+four+years+of+inactivity%2C+we+will+need+10+to+11+ships+to+maintain+the+fleet%2C+but+it%E2%80%99s+not+easy+to+find+shipowners+willing+to+help.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CBut+we+can%E2%80%99t+afford+to+spend+too+much+time+on+it.+Even+if+a+new+ship+is+ordered+now%2C+it+will+not+be+completed+until+2030.+I+believe+the+Handysize+freight+market+will+rise+the+moment+the+aging+of+the+global+shipping+fleet+reaches+a+critical+point.+It+will+be+extremely+difficult+to+negotiate+ship+chartering+after+the+price+skyrockets.+Now+is+the+only+chance+for+us+to+develop+our+fleet+at+an+acceptable+level.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Emergency+escape+mechanism+%3Cbr%3E%E3%80%80--There+is+also+an+issue+that+long-term+charter+contracts+cannot+be+easily+terminated+during+recessions.+%3Cbr%3E%E3%80%80%E2%80%9CAs+a+risk+hedging+measure%2C+we+include+two+types+of+our+unique+purchase+options+%28POs%29+for+the+charter+of+the+newbuilding+series+completed+in+FY2025.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9COne+is+a+regular+PO+at+the+end+of+the+charter+period%2C+and+the+other+is+an+emergency+PO+when+the+economic+environment+changes+drastically.+We+will+purchase+the+ship+at+a+reasonable+price+so+that+the+shipowners+do+not+incur+losses.+Learning+from+the+experience+of+many+operators+who+were+unable+to+cancel+long-term+charter+contracts+during+previous+recessions%2C+we+have+incorporated+POs+as+an+escape+mechanism.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+also+introduced+a+profit+share+clause+into+the+charter+rates+for+the+series.+Our+stock+dividend+policy+of+%E2%80%99Don%E2%80%99t+cry+in+bad+times%2C+laugh+together+in+good+times%E2%80%99+was+also+applied+to+charter+contracts.+In+an+uptrend%2C+we+share+profits+with+shipowners+but+lower+the+floor+rate+to+the+lowest+possible+level+to+balance+risk+and+return.%E2%80%9C+%3Cbr%3E%E3%80%80--What+are+the+possibilities+for+building+new+ships+in+China%3F+%3Cbr%3E%E3%80%80%E2%80%9CIf%2C+as+is+commonly+said%2C+there+is+a+difference+of+around+15%25+in+ship+prices+between+Japan+and+China%2C+it+cannot+be+ignored.+It+would+be+a+mistake+to+rule+it+out+as+an+option.+However%2C+we+manage+our+business+with+the+aim+of+ensuring+that+ships+reach+their+full+lifespan.+Japan%E2%80%99s+construction+capabilities%2C+cultivated+over+a+long+history%2C+are+not+simply+about+the+superiority+of+product+performance.+The+level+of+reliability+is+different.+For+us%2C+ships+are+important+business+tools.+Personally%2C+I+would+like+to+find+all+sorts+of+nits+to+show+our+commitment+to+Japanese-built+ships%2C+which+are+more+expensive.+Trust+cannot+be+measured+overnight.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+IMO+consensus+viewed+positively+%3Cbr%3E%E3%80%80--Last+October%2C+the+adoption+of+the+IMO+%28International+Maritime+Organization%29%E2%80%99s+mid-term+GHG+%28greenhouse+gas%29+measures+was+postponed.+%3Cbr%3E%E3%80%80%E2%80%9CI+think+the+delay+was+triggered+by+the+strong+opposition+of+the+Trump+administration%2C+but+I+think+many+countries+are+essentially+skeptical+that+the+world%E2%80%99s+massive+maritime+trade+can+really+be+sustained+without+fossil+fuels.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CHowever%2C+it+is+extremely+important+that+a+tentative+agreement+was+reached+on+mid-term+measures+at+MEPC83+%2883rd+Marine+Environment+Protection+Committee%29+in+April+last+year.+It+means+a+lot+to+show+that+if+everyone+is+motivated%2C+they+can+at+least+pull+in+the+same+direction.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Preparing+for+a+downturn+in+logistics+%3Cbr%3E%E3%80%80--The+fiscal+year+ending+March+2026+will+be+the+final+year+of+the+current+medium-term+management+plan.+Could+you+review+the+status+of+your+warehousing+and+transportation+business%3F+%3Cbr%3E%E3%80%80%E2%80%9CDue+to+the+%E2%80%992024+problem%E2%80%99+in+logistics+and+other+factors%2C+the+trend+of+price+increases+has+begun+in+earnest+across+the+market.+It+is+true+that+we+have+benefitted+from+this+to+a+certain+extent.+It+is+becoming+increasingly+difficult+to+secure+not+only+drivers+but+also+warehouse+workers.+However%2C+the+industry+has+not+made+much+progress+in+automation+and+adoption+of+robotics.+The+current+environment+makes+it+easier+to+gain+customer+understanding+regarding+price+hikes.+It+has+had+quite+a+positive+impact.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIn+the+document+storage+business%2C+there+has+been+no+significant+decline+in+storage+needs+from+existing+customers.+There+were+concerns+that+the+revision+of+the+Electronic+Bookkeeping+Act+would+reduce+demand%2C+but+in+reality%2C+many+companies+are+using+us+in+tandem+with+electronic+storage.+On+the+other+hand%2C+it+is+difficult+to+imagine+any+significant+growth+in+the+field+of+communication+paper%2C+which+was+the+main+cargo+for+general+warehouse+businesses.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIn+any+case%2C+given+these+structural+changes%2C+it+is+clear+that+a+major+downturn+will+come+in+the+future%2C+and+we+will+continue+to+prepare+for+the+future.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CSpecifically%2C+we+will+address+this+in+two+ways%3A+%E2%80%99Basic%E2%80%99%2C+which+covers+all+existing+businesses%3B+and+%E2%80%99Advanced%E2%80%99%2C+which+will+be+a+new+initiative.+The+Basic+approach+is+to+hone+on-site+capabilities+in+existing+areas+where+automation+and+adoption+of+robotics+are+difficult+to+advance.+The+Advanced+approach+will+tackle+new+logistics+using+the+foundation+we+have+cultivated+in+the+existing+areas.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9COne+of+the+initiatives+of+the+Advanced+approach+is+to+build+a+delivery+network%2C+but+this+is+an+area+that+is+difficult+for+an+individual+company+to+tackle.+On+the+other+hand%2C+platforms+%28PF%29+provided+by+tech+companies+are+structured+in+such+a+way+that+the+PF+operators+are+the+sole+winners.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+are+working+with+NPOs+we+partner+with+to+create+a+system+that+does+not+pursue+profits+through+the+platform+itself.+It+is+clear+that+there+will+be+an+absolute+shortage+of+supply.+We+hope+to+build+a+flexible+network+by+lowering+the+barriers+to+participation.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+would+like+to+shape+the+Advanced+approach+over+a+period+that+extends+two+years+beyond+the+existing+mid-term+plan.+First%2C+we+will+steadily+expand+the+user+base.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Redevelopment+is+also+affected+by+the+2024+problem+%3Cbr%3E%E3%80%80--How+about+the+real+estate+segment%3F+The+large-scale+apartment+complex+%E2%80%9CPlaza+Kachidoki%E2%80%9C+will+cease+operations+and+redevelopment+will+be+necessary.+%3Cbr%3E%E3%80%80%E2%80%9CAt+the+interim+financial+results+briefing+in+November+last+year%2C+we+explained+about+rising+construction+costs+and+longer+construction+periods%2C+but+costs+have+continued+to+rise+since+then.+Combined+with+the+%E2%80%9C2024+problem%E2%80%9C+in+construction%2C+it+has+become+difficult+to+source+equipment+contractors%2C+further+extending+the+construction+period.+New+construction+is+becoming+a+more+challenging+option.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+will+continue+to+examine+two+options%3A+a+mid-rise+economical+design+plan+with+a+reduced+floor+area+ratio+that+will+shorten+the+construction+period%2C+and+a+renovation+plan.%E2%80%9C+%3Cbr%3E%E3%80%80%3DEnd+%3Cbr%3E%E3%80%80%28This+series+was+written+by+Takehiko+Hatano%2C+Yohei+Misaki%2C+Azumi+Kashiwai%2C+and+Satoshi+Yamada%29+%3Cbr%3E+%3Cbr%3E%E3%80%80Yasuyuki+Inui+graduated+from+Faculty+of+Law%2C+Konan+University+and+joined+Mitsubishi+Estate+Company+in+1991.+Joined+Inui+Building+%28now+%3Cb%3EInui+Global+Logistics%3C%2Fb%3E%29+in+2004.+In+2006%2C+he+became+Managing+Director+of+the+Real+Estate+Division%2C+and+in+2008%2C+he+became+Representative+Director+and+President.+In+October+2014%2C+he+was+appointed+to+his+current+position+following+the+business+integration+with+%3Cb%3EInui+Global+Logistics%3C%2Fb%3E.+Born+in+Hyogo+Prefecture%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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【海運トップに聞く　下期の舵取り】(6)乾汽船社長・乾康之氏、船隊整備4年ぶり再開
2026/01/27(火)
日本海事新聞 JMD


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