Mitsui O.S.K. Lines, Ltd. Announces Revision of FY2009 Outlook
January 29, 2010
TOKYO - Mitsui O.S.K. Lines, Ltd. (the Company; President: Akimitsu Ashida) today announced a revision of its consolidated business outlook for FY2009, ending March 31, 2010 (April 1, 2009 - March 31, 2010), announced on October 27, 2009, as follows:
Reasons for revision of outlook
The dry bulker market is expected to hold steady thanks to China's strong demand for iron ore and coal imports. And an improvement in the tanker market is also anticipated due to recovery in demand for petroleum products and the withdrawal of single-hull VLCCs. In addition, the global economy is bottoming out and the containership business is expected to see increased cargo trade and progress toward recovery of freight rates. Therefore, the Company made an upward revision of its earlier announced consolidated business outlook for FY2009.
Forward looking statement
Future outlooks such as plans and strategies related to matters other than the past and present facts in this press release contain potential risks and uncertainties, and are not guaranteed. These outlooks are issued by the Company according to currently available information. Please realize that actual achievement may be significantly different from these outlooks, due to various factors such as future economic trends, market demand, exchange rates, bunker prices, other economic, social, and political situations, and various contingencies.