Dry Bulk Business


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Dry Bulkers (excluding Steaming Coal Carrirers)

We operate one of the world's major dry bulker fleets, which includes iron ore and coking coal carriers, general cargo carriers, and wood chip carriers. We strive to ensure strong, sustainable earnings growth through an optimum balance of mid- and long-term contracts and spot contracts. We also continue to be proactive in technological development geared towards reducing the environmental burden of large-scale iron ore carriers.

Business Performance of FY2017

Consolidated Revenues Breakdown (Results in FY2015)In the Capsize bulker market, although the market continued to fall for the first half of the fiscal year due to the prolonged impact of a cyclone in eastern Australia, it began rising together with freight rates for cargoes loaded in Brazil, which started rebounding from the summer. From November onward the market has proceeded firmly, as cargo volume of iron ore began to increase and the market rose further, and then in mid-December the Capsize bulker market rate reached US$30,000 per day for the first time in four years. The Panamax market had risen to US$12,000 per day in mid-April but thereafter been stagnant until mid-June, and repeatedly rose and fell after mid-June. However, from late July onward, it proceeded firmly with a tight balance between supply and demand due to the strong cargo movements of grain from the east coast of South America and coal which is one of mainstay cargos. In accordance with the pick-up in the overall dry bulker market, the markets for the Handymax and smaller-sized bulkers also proceeded firmly, boosted by the energized trade cargo volume, improved supply and demand balance and a series of urgent vessel chartering activities caused by port congestion and climate conditions.

Facing such market conditions, the dry bulk business increased its ordinary profit year on year due to the continued effect of the business structural reforms and efforts to cut costs.

Highlights & Strategy

Highlights & Strategy by Operating Segment - from Annual Report
Annual Report 2017: Dry Bulk Business-Dry BulkersPDFPDF(77KB)

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