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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 3rd Quarter

Consolidated Revenues Breakdown (Results in FY2015)The very large crude oil carrier (VLCC) market proceeded at low levels in the first half 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. In the third quarter as well, the market continued at low levels regardless of the winter demand period due to an oversupply of vessels for cargo from the Middle East. The product tanker market continued to proceed weakly in the first half due to factors such as a slowdown in cargo volumes between East and West along with increased pressures of supply arising from new vessel deliveries, despite a brief surge in the market brought about by hurricanes striking the U.S. Meanwhile in the third quarter, the low levels continued from the first half as the boost to the market from winter demand was limited despite cold snaps in the U.S. and Europe. The LPG carrier market followed a downward trend for the first half amid a standstill in arbitrage-trading from the U.S. to Asia brought about by diminishing LPG price variations, but the market rebounded upward for the third quarter due to firm LPG shipments mainly from the U.S., aside from several temporary ups and downs due to the fluctuations in the vessel supply and demand balance.

Facing these conditions, the tanker division has recorded an ordinary profit for the first nine 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 3rd Quarter

Fleet Scale at the end of March, 2016The LNG carrier division recorded a stable ordinary profit mainly through medium- to long-term charter contracts, including three newly built vessels. The offshore business division also recorded a stable ordinary profit, brought about by operations of a new FPSO unit and the favorable revenues from the subsea support vessel business.

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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