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日本海事新聞ニュース Japan Maritime Daily Oct 26, 2026 (Mon)

MOL Bolsters LNG Earnings Power Through Upstream FLNG Entry and Operational Overhaul

Inomoto

　MOL will strengthen the profitability of its LNG (liquefied natural gas) carrier and LNG infrastruc ・・・続きはログインして下さいnext %E3%80%80%3Cb%3EMOL%3C%2Fb%3E+will+strengthen+the+profitability+of+its+LNG+%28liquefied+natural+gas%29+carrier+and+LNG+infrastructure+businesses+by+expanding+their+scope+and+minimizing+downside+risks.+In+June%2C+the+company+decided+to+participate+in+LNG+production%2C+an+upstream+business+in+the+LNG+value+chain.+The+company+also+began+operating+its+ship+management+and+project+operations+divisions+as+an+integrated+unit+this+fiscal+year+to+improve+earnings+capacity+and+customer+satisfaction.+With+the+world%E2%80%99s+largest+LNG+carrier+fleet+at+its+core%2C+%E2%80%9Cwe+will+improve+the+quality+of+our+business+portfolio+through+appropriate+risk-taking%2C%E2%80%9C+says+Managing+Executive+Officer+Makoto+Inomoto.+%3Cbr%3E+%3Cbr%3E%E3%80%80In+June%2C+%3Cb%3EMOL%3C%2Fb%3E+decided+to+invest+in+the+first+FLNG+%28Floating+Liquefied+Natural+Gas%29+project+in+the+United+States%2C+led+by+US-based+Delfin+Midstream.+This+marks+%3Cb%3EMOL%3C%2Fb%3E%E2%80%99s+first+involvement+in+the+upstream+segment+of+the+LNG+supply+chain.+%3Cbr%3E%E3%80%80The+project+is+one+of+the+world%E2%80%99s+largest+FLNG+projects%2C+with+an+annual+liquefaction+capacity+of+4.4+million+metric+tons.+The+total+project+cost+is+approximately+%245+billion.+%3Cb%3EMOL%3C%2Fb%3E+will+contribute+approximately+%24300+million+of+the+roughly+%241.4+billion+in+total+equity+investment+by+investors.+The+company+will+also+consider+participating+in+FLNG+projects+for+the+second+and+third+units+to+follow.+%3Cbr%3E%E3%80%80Explaining+the+aim+of+participating+in+the+project%2C+Inomoto%2C+who+oversees+the+LNG+and+ethane+business%2C+says%2C+%E2%80%9CBy+becoming+involved+from+the+production+stage+rather+than+simply+transporting+LNG%2C+we+aim+to+support+the+global+energy+value+chain%2C+secure+new+earnings+opportunities+and+strengthen+our+business+portfolio.%E2%80%9C+%3Cbr%3E%E3%80%80%3Cb%3EMOL%3C%2Fb%3E+entered+the+LNG+carrier+business+in+the+1980s.+The+company+has+accumulated+expertise+over+many+years+in+LNG+transportation+for+customers+including+power+and+gas+companies+in+Japan+and+overseas.+The+business+expanded+in+step+with+the+growth+of+the+LNG+market+and+became+one+of+the+pillars+supporting+the+company%E2%80%99s+operations.+%3Cbr%3E%E3%80%80Leveraging+its+expertise+in+LNG+carriers%2C+the+company+has+also+expanded+its+business+into+downstream+areas+of+the+supply+chain%2C+including+FSRUs+%28Floating+Storage+and+Regasification+Units%29%2C+LNG+bunkering+%28fuel+supply%29+vessels%2C+and+LNG+powerships.+The+company+has+now+entered+the+natural+gas+liquefaction+business+for+the+first+time.+%3Cbr%3E%E3%80%80%E2%80%9CWith+LNG+carriers+at+the+core%2C+we+are+expanding+horizontally+into+areas+such+as+ethane+carriers+and+vertically+into+areas+such+as+FLNG%2C+FSRUs%2C+and+powerships.+We+aim+to+expand+our+business+across+the+entire+LNG+value+chain+and+become+an+energy+infrastructure+company+with+one+of+the+world%E2%80%99s+largest+fleets%2C%E2%80%9C+said+Inomoto.+%3Cbr%3E%E3%80%80%E2%96%A0+Improving+vessel+deployment+flexibility+%3Cbr%3E%E3%80%80The+management+plan+%E2%80%9CBLUE+ACTION+2035+Phase+2%2C%E2%80%9C+launched+this+fiscal+year%2C+identifies+%E2%80%9CSharpening+our+earning+power%E2%80%9C+as+one+of+its+company-wide+priorities.+The+company+will+harness+the+strengths+of+its+people+and+organization+to+turn+the+investments+made+during+the+previous+medium-term+management+plan+period+%28Phase+1%3A+FY2023-2025%29+into+businesses+that+consistently+generate+profits.+%3Cbr%3E%E3%80%80Inomoto+points+out+that%2C+in+the+LNG+carrier+and+LNG+infrastructure+businesses%2C+where+the+mission+is+to+generate+stable+long-term+earnings%2C+%E2%80%9Cthere+is+limited+potential+for+upside+returns+because+contracts+are+predominantly+long-term.+On+the+other+hand%2C+there+are+downside+risks.+The+challenges+are+to+prepare+for+the+risk+of+declining+profitability+and+improve+tradability+%28flexibility+in+vessel+deployment%29.%E2%80%9D+%3Cbr%3E%E3%80%80If+equipment+or+facility+malfunctions+cause+downtime+and+put+a+vessel+off-hire%2C+charter+hire+revenue+could+be+interrupted.+As+trading+in+the+LNG+market+becomes+more+active+and+customer+requirements+become+more+sophisticated+and+complex%2C+it+is+increasingly+important+to+expand+the+range+of+LNG+terminals+vessels+can+call+at+and+enhance+flexibility+in+vessel+deployment.+%3Cbr%3E%E3%80%80To+address+these+challenges%2C+an+initiative+has+been+launched+to+integrate+the+operations+of+the+ship+management+department%2C+which+communicates+closely+with+vessels%2C+and+the+project+operations+department%2C+which+is+in+daily+contact+with+customers.+%3Cbr%3E%E3%80%80The+company+will+strengthen+its+operations+management+capabilities+by+establishing+an+operational+structure+that+bridges+ship+management+and+project+operations+at+its+key+locations+in+Tokyo%2C+London%2C+Mumbai+and+Singapore.+%E2%80%9CThe+aim+is+to+prevent+additional+layers+from+forming+in+communication%2C%E2%80%9D+Inomoto+says.+%3Cbr%3E%E3%80%80Five+task+forces+have+also+been+established+as+part+of+the+effort+to+integrate+operations.+Knowledge+on+topics+such+as+vessel+performance%2C+troubleshooting%2C+environmental+measures+and+workflow+standardization+will+be+accumulated+and+shared+to+improve+service+quality+and+ensure+consistency+worldwide.+%3Cbr%3E%E3%80%80Specialist+personnel+will+also+be+trained.+%3Cb%3EMOL%3C%2Fb%3E+LNG+Transport%2C+formerly+a+ship+management+company%2C+was+reorganized+as+a+project+operations+company+and+renamed+%3Cb%3EMOL%3C%2Fb%3E+Energy+Operations+effective+September.+The+company+has+about+30+specialists%2C+including+seconded+personnel.+%3Cbr%3E%E3%80%80The+challenge+was+to+continuously+accumulate+expertise+and+experience+despite+personnel+transfers+among+the+staff+who+communicate+with+charterers+about+day-to-day+operations%2C+and+to+use+that+knowledge+to+maintain+and+improve+service+quality.+To+address+this%2C+the+company+began+recruiting+and+training+specialists+four+years+ago.+The+aim+is+to+build+up+knowledge+and+experience+to+improve+customer+satisfaction.+%3Cbr%3E%E3%80%80The+business+environment+for+LNG+carriers+is+changing+significantly%2C+with+developments+such+as+the+disruption+of+LNG+supplies+from+the+Middle+East+due+to+the+effective+blockade+of+the+Strait+of+Hormuz.+%3Cbr%3E%E3%80%80Inomoto+says%2C+%E2%80%9CEven+if+the+situation+in+the+Middle+East+calms+down%2C+energy+supply+chains+will+not+necessarily+return+to+the+way+they+were+before.+Until+now%2C+supply+chains+have+prioritized+cost+optimization.+Going+forward%2C+greater+emphasis+will+be+placed+on+flexibility+and+resilience.+We+need+to+assess+how+energy+prices+and+trade+patterns+will+change+and+what+impact+those+changes+will+have+on+ton-miles.%E2%80%9C+%3Cbr%3E%E3%80%80As+of+September%2C+the+company+was+involved+with+102+LNG+carriers.+The+newbuilding+order+backlog+stands+at+22+vessels.+In+addition%2C+there+are+16+large+ethane+carriers+%28including+9+on+order%29+and+11+FSRUs+%28including+2+on+order%29.+%3Cbr%3E%E3%80%80In+addition+to+the+four+commercial+bases+mentioned+above%2C+the+company+also+has+representatives+stationed+in+Shanghai%2C+China%3B+Doha%2C+Qatar%3B+and+Muscat%2C+Oman.+The+company+has+approximately+250+employees%2C+including+locally+hired+staff+overseas.+%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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