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 3rd Quarter

Consolidated Revenues Breakdown (Results in FY2015)The Capesize bulker market had only a limited downturn ahead of the Anniversary of the Founding of the People’s Republic of China and was showing an underlying firmness. Then against a backdrop of strong chartering activities by major shippers in Western Australia and a recovery in Brazil’s iron-ore prices, the market rose sharply from November, reaching US$30,000 per day for the first time in four years in mid-December. Afterward transactions were limited during the Christmas holidays, and the market fell. The Panamax market proceeded with a firm bottom in early October due to firm orders for grain shipments from the U.S. Gulf and the east coast of South America, and in the Pacific Ocean, the market index recorded the highest value of all of 2017. Coal imports softened in China around the National Congress of the Communist Party, and the market responded by dropping from late October. However, from mid-November onward, in the Pacific Ocean, orders for coal from Eastern Australia and Indonesia increased in response to China’s winter heating demand. Meanwhile, in the Atlantic Ocean, competition between intra-regional drybulk shipments and grain shipments from the east coast of South America led to a tightening of vessel supply, providing a boost to the market until the start of the Christmas holidays and the market index recorded the highest value of all of 2017. The markets for the handymax and smaller-sized bulkers also proceeded firmly overall.

Facing such market conditions, the dry bulker division increased its ordinary profit year on year due to ongoing efforts to reduce costs, in addition to a more upbeat market.

Highlights & Strategy

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

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