Energy Transport Business

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Tankers

We take great pride in the MOL tanker fleet crude oil tankers (mainly VLCCs), petroleum product tankers, chemical product tankers, and LPG carriers and its global leadership in all related fields. As an expert in energy transport, we have developed a comprehensive safe operation system covering our entire lineup of vessels. With one of the world's largest tanker fleets, the MOL group can take advantage of business opportunities on a global scale. In addition, we founded the VLCCs and LR1 product tankers pool management company to enable us to cater more precisely to our customer's requirements and to maintain the high quality of our services.

Business Performance of FY2017 2nd Quarter

Consolidated Revenues Breakdown (Results in FY2015)The very large crude oil carrier (VLCC) market has remained at low levels due to factors that include permeating adverse effects of decisions by OPEC countries to reduce oil production along with arrival of the spring and summer low-demand period, combined with other factors such as a steady pace of new vessel deliveries. The product tanker market continued to proceed weakly from the first quarter due to factors such as a slowdown in cargo volumes between East and West along with pressures of supply arising from new vessel deliveries, despite a brief surge in the market brought about by a hurricane striking the U.S. In the LPG carrier market, whereas a phase of recovery had previously ensued backed by robust cargo volumes, the market subsequently took a downturn amid a standstill in arbitrage-trading from the U.S. to Asia brought about by diminishing LPG price variations.

Facing these conditions, the tanker division has recorded an ordinary profit for the first six months, having made ceaseless efforts to improve operating efficiency and reduce costs through pool operations, in addition to having achieved stable fulfillment of long-term contracts.

Highlights & Strategy

Highlights & Strategy by Operating Segment - from Annual Report
Annual Report 2017: Energy Transport Business-TankersPDFPDF(80KB)

LNG Carriers/Offshore Businesses


FPSO (Offshore Businesses)

MOL, which has one of the world's largest fleets of LNG carriers, plays a leading role in a wide range of liquefied natural gas (LNG) projects worldwide. Underpinned by decades of transport know-how and technical expertise, as well as a long and close relationship with leading figures in the LNG business, MOL has made, and continues to make a major contribution to the various LNG projects on the globe. Natural gas is drawing increased attention around the world as an abundant, environmentally friendly energy source, and demand is expected to increase sharply, particularly in economically emerging countries such as China and India. Moreover, active developments of shale gas in USA is expected to produce new trade pattern of LNG, boosting demand for more LNG carriers. MOL continually provides safe and stable LNG transport services, and works hard to maintain its leadership in the LNG sector and its place as a key worldwide LNG transporter. Also, in the future, we will be participating actively in "FPSO"(Floating production, storage, and offloading system) and "FSRU"(Floating storage and regasification unit) and other offshore businesses.

Business Performance of FY2017 2nd Quarter

Fleet Scale at the end of March, 2016The LNG carrier division, which operates vessels mainly under medium - to long-term contracts including three newly built vessels, recorded a stable ordinary profit for the first six months, although the spot market was sluggish. The offshore business also recorded a stable ordinary profit, brought about by operations of a new FPSO unit and the contribution of favorable revenues from a subsea support vessel.

Highlights & Strategy

Highlights & Strategy by Operating Segment - from Annual Report
Annual Report 2017: Energy Transport Business-LNG Carriers/Offshore BusinessesPDFPDF(55KB)

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