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 FY2018 1st Quarter

Consolidated Revenues Breakdown (Results in FY2017)In the Capesize bulker market, the market rate was in the US$14,000 range per day on average in the first quarter. The rate rose to US$20,000 territory per day in mid-May amid a scenario of recovery in iron ore shipments from Western Australia and brazil, but then headed lower temporarily to the US$10,000 level per day, yet later rebounded to the range of US$18,000 per day in late June, underpinned by firm cargo volumes. The Panamax market has been rising, led by upward momentum in the Capesize bulker market from mid-May onward, along with firm cargo volumes of mainstay cargos, and despite a slowdown in cargo volumes in April largely brought about by concerns with respect to restrictions on Chinese coal imports and trade friction between the U.S. and China. In June, the market rate held roughly in the range of $12,000 per day.

As a result of such market conditions and ceaseless efforts to reduce costs, the dry bulk business recorded an ordinary profit, albeit slightly lower year on year.

Highlights & Strategy

Highlights & Strategy by Operating Segment - from MOL Report
MOL Report 2018: Dry Bulk Business-Dry BulkersPDFPDF(117KB)

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