TOKYO — Mitsui O.S.K. Lines, Ltd. (MOL; President Akimitsu Ashida) today reviewed the company's top news stories for 2009, as follows:
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Ordinary income topped ¥200 billion for FY2008, ended March 31, 2009
MOL achieved ¥204.5 billion in consolidated ordinary income for FY2008, the second-highest in history, by taking measures to address a fleet surplus including laid up of vessels and slow steaming to swiftly respond to a drop in seaborne trade after the Lehman Shock, and by continued strong performance.
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The outlook for FY2009 ending March 31, 2010 forecasts a large decrease in ordinary income
Consolidated ordinary income for FY2009 ending March 31, 2010, is estimated at ¥10 billion, a large decrease due to factors such as the yen's appreciation and high prices for bunker oil in addition to a large downturn in car carrier seaborne trade and a drop in the tanker markets.
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Issue of corporate bonds
MOL issued corporate bonds in May and December while emphasizing financial soundness, and raised funds to support business activities. |
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¥50 billion (5-year bonds, 10-year bonds) (May) |
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¥20 billion (7-year bonds) (December)
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Combined with ¥15 billion (5-year bonds) in December, 2008, the company issued a total of ¥85 billion in the past year.
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Implementing stricter measures to ensure safe operation |
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Held joint public-private anti-piracy drill with LNG carrier LNG Vesta (July) |
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Developed vessel operation training program for massive new iron ore carriers. (September) |
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Installed the FMS.Global system, which displays operational status of MOL-operated vessels and the latest global weather in real time at the Head Office reception area. (September)
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Announcement of next-generation, environment-friendly vessel series that greatly reduce CO2 emissions
MOL announced concepts for a series of next-generation vessel that advance currently available technologies the most and are technically practical in the near future.
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First announcement: car carrier ISHIN-I (September) |
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Second announcement: ferry ISHIN-II (December)
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Expanding new contracts for iron ore transport |
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Concluded an agreement on multiple dedicated long-, mid- and short-term contracts with mining company Rio Tinto (July) |
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Signed a contract for mid- and long-term transport with Anshan Iron and Steel Group of China (September) |
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Signed a contract for long-term transport with the Jiangsu Shagang Group of China (October)
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Expanding LNG transport service
A shuttle and regasification vessel (SRV), which re-vaporizes LNG onboard, was launched. (November)
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Winning new completed car-related business in India |
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MOL won a contract to transport completed cars from a new Nissan Motor Chennai plant to the export port (Ennore) in Indian, and the yard operation at the export port. (June) |
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MOL agreed to establish a joint venture to operate a completed car yard at Ennore Port in India. (August)
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Expanding container terminal business |
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New container terminal opened at the U.S. port of Jacksonville, Florida. (January) |
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Established a joint venture to operate a container terminal at Cai Mep Port in Vietnam. (September)
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Enhancing group-wide strength and competitiveness |
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Made Nissan Motor Car Carrier Co., Ltd. a consolidated subsidiary. (September) |
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Business operations of MOL Group companies The Diamond Ferry Co., Ltd. and Kansai Kisen Kaisha were integrated and Ferry Sunflower Co., Ltd. was established (November)
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Occurrence of piracy suffering
The car carrier Jasmine Ace was fired on by pirates aboard two high-speed boats while under way about 900km east of Somalia on Mach 22 (Japan time). The vessel increased speed and escaped from the pirates.
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Japanese Maritime Self-Defense Force warships started a convoy of dispatched vessels for anti-piracy patrols in the Gulf of Aden off Somalia. (March)
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MOL was authorized by the Ministry of Land, Infrastructure, Transport and tourism under the tonnage tax system effective April 1.
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