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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 FY2018 2nd Quarter

Consolidated Revenues Breakdown (Results in FY2017)The very large crude oil carrier (VLCC) market remained weak overall due to declining transportation demand as a result of seasonal factors extending from the beginning of spring to the summer months and despite tightening in the balance of vessel supply and demand due to retirement of aged vessels, as well as a sudden surge in the market caused by the impact of typhoons and increased port congestion in China. The LPG carrier market followed a downward trend in the first quarter due to declining vessel demand in the U.S. region amid a situation where LPG trades slowed down as rising prices of U.S. LPG resulted in a diminishing price difference in comparison with the Asia region. However, the market has since shifted to a trajectory of recovery amid increasing vessel demand in the U.S. region as a result of that price difference once again widening at the outset of the second quarter. The product tanker market proceeded weakly on the whole, having been affected by regular maintenance of refineries and a slowdown in arbitrage trading due to uncertainties regarding the outlook for crude oil prices amid excessive vessel supply overall.

Facing these conditions, ordinary profit/loss deteriorated year on year despite ceaseless efforts to improve operating efficiency through pool operations and promote cost reduction, in addition to having achieved stable fulfillment of long-term contracts and steadily implemented contract extensions.

Highlights & Strategy

Highlights & Strategy by Operating Segment - from MOL Report
MOL Report 2018: Energy Transport Business-TankersPDFPDF(140KB)

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 FY2018 2nd Quarter

Fleet Scale at the end of March, 2016The LNG carrier division maintained robust performance, in part due to new vessel deliveries for an European customer, in addition to vessels operating under existing long-term contracts. The offshore business division also recorded stable ordinary profit, brought about by steady operations of existing projects including those that started operation in June.

Highlights & Strategy

Highlights & Strategy by Operating Segment - from MOL Report
MOL Report 2018: Energy Transport Business-LNG Carriers/Offshore BusinessesPDFPDF(77KB)

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