Replacement construction demand for small chemical tankers
First written in FY2017-Q2. 10 of 22 entries say "Restated". Latest entry: 2026-05-15.
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- 2026-05-15AdvancedResults
「The shipbuilding industry continues to face difficulty expanding construction capacity against a backdrop of labor shortages. As a result, many shipowners are placing orders for vessels early to renew their fleets, and some shipyards are already fully booked for construction slots 5 to 6 years ahead.」
Describes early ordering by shipowners and tight construction schedules extending 5 to 6 years ahead against the backdrop of shipyard capacity constraints. - FY2025-H1AdvancedAnnual report
「Meanwhile, inquiries for short-sea chemical tankers remain firm.」
The company describes firm inquiry levels for short-sea chemical tankers. - FY2023RestatedAnnual report
「The short-sea shipping market, which is served by our two-stroke engines, is also being affected by reduced backhaul cargo volumes because PKS (palm kernel shell), which had generated substantial cargo volumes for biomass power generation, is increasingly being shipped to Europe, where prices are more attractive. Freight rates therefore do not currently justify vessel prices, but demand for replacement construction is expected to continue for some time because the fleet contains many older vessels and age restrictions apply to vessels transporting steel from Japan.」
While describing deterioration in backhaul cargo volumes and freight rates due to the outflow of PKS, the company says that demand for replacement construction will continue for the time being, partly because of the large number of older vessels. - FY2022SoftenedAnnual report
「In the domestic shipping industry, our main market, expectations had been for growth in new-vessel construction following the end of the Provisional Measures Programme for Domestic Shipping, which eliminated construction levies. However, higher vessel prices due to the surge in steel prices, the consolidation of steel mills and efforts in the tanker sector to assess the energy transition have kept the number of vessels under construction from increasing.」
For newbuildings, including tankers, expectations following the end of the program are being offset by efforts to assess the energy transition and surging steel prices, which are acting as brakes on construction. - FY2022-Q3SoftenedAnnual report
「In the domestic shipping industry, our main market, expectations had been for growth in new-vessel construction following the end of the Provisional Measures Programme for Domestic Shipping, which eliminated construction levies. However, higher vessel prices due to the surge in steel prices, the consolidation of steel mills and efforts by tanker operators to assess the outlook for the energy transition have become major factors holding back negotiations for new vessels, and the number of inquiries has not increased to date.」
For newbuildings, including tankers, expectations for construction demand following the end of the program are being offset by efforts to assess the outlook for the energy transition, which are acting as a brake on business discussions, and the number of inquiries has not increased. - FY2021RestatedAnnual report
「The decline in oil consumption has accelerated, particularly as young people move away from car ownership and fuel-efficient and electric vehicles become more widespread, making the outlook for the domestic tanker industry difficult to see. However, the number of aging vessels is also increasing, raising expectations for replacement construction.」
The company presents both the difficult outlook for the tanker market due to declining fuel demand and expectations for replacement construction against a backdrop of an increasing number of aging vessels. - FY2021-Q3More specific fuel-demand declines and expectations for replacement constructionAnnual report
「The oil tanker and chemical tanker industries have been significantly affected by weaker domestic demand for gasoline and aviation fuel due to the COVID-19 pandemic, in addition to the longstanding downward demand trend. Overall, however, they have not experienced as sharp a decline in cargo movements as dry bulk carriers and continue to transport cargo consistently. Each tanker operator is assessing the appropriate fleet size while anticipating a gradual decline in demand for petroleum products, and replacement construction projects for aging vessels may emerge over the next several years.」
While domestic demand for gasoline and aviation fuel has weakened considerably in the tanker industry, cargo movements have not declined as sharply as those of dry bulk carriers, and replacement construction projects for aging vessels may emerge within several years. - FY2021-Q2Additional demand headwinds and expectations for replacement demandAnnual report
「In addition to the longstanding trend of declining demand, the oil tanker and chemical tanker industries have been significantly affected by the COVID-19 pandemic through weaker domestic demand for gasoline and aviation fuel, but have not experienced as sharp a decline in cargo movements as dry bulk carriers and continue to transport cargo consistently, raising expectations that this will eventually lead to demand for replacement construction of aging vessels.」
The company describes the decline in domestic demand for gasoline and aviation fuel caused by the COVID-19 pandemic in addition to the existing downward demand trend. Meanwhile, cargo movements have not declined as sharply as those of dry bulk carriers, and expectations for future demand for replacement construction of aging vessels remain intact. - FY2021-Q1RestatedAnnual report
「The oil tanker and chemical tanker industries have long faced declining domestic gasoline demand as young people move away from car ownership, but they have not experienced as sharp a decline in cargo movements as dry bulk carriers and continue to transport cargo consistently, raising expectations that this will eventually lead to demand for replacement construction of aging vessels.」
The oil tanker and chemical tanker industries continue to face declining domestic gasoline demand, but have not seen as sharp a decline in cargo movements as dry bulk carriers, and expectations remain that this will generate future demand for replacement construction of aging vessels. - FY2020RestatedAnnual report
「Replacement construction of aging small chemical tankers and LPG carriers is expected in the tanker industry, but the anticipated decline in cargo volumes due to lower oil demand and other factors persists, and actual demand still appears likely to take time to emerge.」
The company reiterates its view that, while replacement construction of small chemical tankers and LPG carriers is expected, the anticipated decline in cargo volumes persists and actual demand will take time to emerge. - FY2020-Q3RestatedAnnual report
「Similarly, replacement construction of small chemical tankers and LPG carriers is expected in the tanker industry, but the anticipated decline in cargo volumes due to lower oil demand and other factors persists, and actual demand still appears likely to take time to emerge.」
The company reiterates its view that, while replacement construction of small chemical tankers and LPG carriers is expected, the anticipated decline in cargo volumes accompanying lower oil demand persists and actual demand will take time to emerge. - FY2020-Q2RestatedAnnual report
「Similarly, replacement construction of small chemical tankers and LPG carriers is expected in the tanker industry, but the anticipated decline in cargo volumes due to lower oil demand and other factors is weighing on the outlook, and a recovery in orders still appears likely to take time.」
The company reiterates its view that replacement construction of small chemical tankers and LPG carriers is expected, while the anticipated decline in cargo volumes accompanying lower oil demand will weigh on a recovery in orders. - FY2020-Q1RestatedAnnual report
「Similarly, replacement construction of small chemical tankers and LPG carriers is expected in the tanker industry, but the anticipated decline in cargo volumes due to lower oil demand and other factors is weighing on the outlook, and a recovery in orders still appears likely to take time.」
The company reiterates its view that, while replacement construction of small chemical tankers and LPG carriers is expected, the anticipated decline in cargo volumes accompanying lower oil demand will weigh on a recovery in orders. - FY2019RestatedAnnual report
「Similarly, although replacement construction of small chemical tankers and LPG carriers is expected in the tanker industry, the anticipated decline in transport volumes is expected to weigh on the market, and it is thought that it will still take some time for orders to recover.」
While maintaining its outlook for replacement construction of small chemical tankers and LPG carriers, the company says that the expected decline in cargo volumes will delay a recovery in orders. - FY2019-Q3RestatedAnnual report
「Similarly, although replacement construction of small chemical tankers and LPG carriers is expected in the tanker industry, the anticipated decline in transport volumes is expected to weigh on the market, and it is thought that it will still take some time for orders to expand.」
The filing reconfirms the expected replacement construction of small chemical tankers and LPG carriers, while stating that it will still take time for orders to expand against a backdrop of expected declines in transport volumes. - FY2019-Q2RestatedAnnual report
「Similarly, although replacement construction of small chemical tankers and LPG carriers is expected in the tanker industry, it is expected to take some time for orders to expand, reflecting the anticipated decline in transport volumes associated with declining oil demand and other factors.」
The filing reconfirms the expected replacement construction of small chemical tankers and LPG carriers, while stating that it will take time for orders to expand against a backdrop of expected declines in transport volumes. - FY2019-Q1LPG carriers given particular emphasisAnnual report
「Meanwhile, although transport volumes are expected to decline in the tanker industry along with the consolidation of oil refiners due to declining oil demand, replacement construction is expected for small chemical tankers approaching the replacement age, as with cargo vessels, and particularly for LPG carriers.」
The filing reconfirms the expected replacement construction of LPG carriers in addition to small chemical tankers, with particular emphasis on LPG carriers. The expected decline in transport volumes is also noted. - FY2018-Q3Expansion of expected replacement construction to include LPG carriersAnnual report
「Although a decline in transport volumes is expected in the tanker industry due to the integration of oil refiners and other factors, replacement construction of aging vessels, mainly small chemical tankers, as well as LPG carriers, is expected.」
The expected replacement construction of LPG carriers has been added to the previous expectation centered on small chemical tankers. The expected decline in transport volumes is also noted. - FY2018-Q2Reconfirmation of expected replacement constructionAnnual report
「Although a decline in transport volumes is expected in the tanker industry due to the integration of oil refiners and other factors, replacement construction of aging vessels, mainly small chemical tankers, is expected.」
Although tanker transport volumes are expected to decline, replacement construction of aging vessels, mainly small chemical tankers, is expected. - FY2018-Q1SoftenedAnnual report
「In the tanker industry as well, the impact of mergers among oil refiners has sharply reduced inter-trading-company transport, leaving some replacement construction of aging vessels, mainly small chemical tankers.」
Replacement construction of aging small chemical tankers continues, but the description now limits demand to “a certain level,” rather than stating that permits for replacement construction have begun to be issued. - FY2017AdvancedAnnual report
「In the tanker industry as well, despite issues surrounding the merger of oil refiners, permits have begun to be issued for replacement construction of aging vessels, mainly small chemical tankers.」
For small chemical tankers, the situation has progressed from continued replacement construction demand and inquiries to the stage at which permits are beginning to be issued for replacement construction of aging vessels. - FY2017-Q2First statedAnnual report
「However, there is demand for replacement construction of small chemical tankers, and inquiries continue.」
The filing states that, despite the overall market downturn, there is replacement construction demand and continuing inquiries for small chemical tankers.