Order pricing and profitability risks arising from global vessel supply and demand and intensifying competition
First written in FY2016. 22 of 33 entries say "Restated". Latest entry: 2026-11-05.
No other company in this theme has enough history to compare yet.
- FY2026-H1WorsenedAnnual report
「In addition, the company has been undertaking repair vessel conversion work with a long construction period that will not generate revenue during the current interim consolidated accounting period. Because general repair work cannot be performed at the repair dock during that time, the number of vessels generating revenue declined by 6 from the same period of the previous year, resulting in lower revenue.」
The company could not perform general repair work at the repair dock while undertaking long-term conversion work, resulting in a 6-vessel year-on-year decline in vessels generating revenue and lower revenue in the repair vessel business. - FY2025-H1WorsenedAnnual report
「In addition, manufacturing costs have risen and vessel prices have increased as a result of higher crude oil, steel and labor costs. However, freight and charter rates have not reached levels that support orders, and many vessels are now scheduled for delivery more than 3 years out because shipyards' near-term berth capacity is full, leading shipowners to hold back on placing orders.」
Higher vessel prices resulting from rising costs, the mismatch with freight and charter rates, and extended delivery times are causing shipowners to hold back on orders, making the challenging order pricing and profitability environment more evident. - FY2024-Q2WorsenedAnnual report
「In terms of earnings, newbuild contract prices rose temporarily but have not reached levels sufficient to cover higher construction costs caused by soaring prices for materials and equipment and persistently high steel prices. Excluding the benefit of yen depreciation, earnings remain challenging for both domestic vessels and oceangoing vessels contracted in foreign currencies, including US dollars.」
Although newbuild contract prices rose temporarily, they have not absorbed the increase in construction costs, and profitability for domestic vessels and foreign-currency-denominated oceangoing vessels remains challenging excluding the benefit of yen depreciation. - FY2024-Q1MitigatedAnnual report
「In the repair vessel business, revenue increased following the completion of large-scale conversion and repair vessel projects that had been underway since the previous consolidated fiscal year, and earnings also improved from the same quarter of the previous year.」
It states that the completion of ongoing large-scale conversion and repair vessel projects improved revenue and earnings in the repair vessel business from the same quarter of the previous year. - FY2023MitigatedAnnual report
「By undertaking large-scale repair vessel projects, the company reduced the number of general repair projects, but increased revenue per vessel and secured earnings by working to improve productivity.」
It states that, although the number of repair projects has declined and the competitive environment remains challenging, earnings are being secured through efforts focused on large-scale repair vessels and productivity improvements. - FY2023-Q3RestatedAnnual report
「In the repair vessel business, inquiries from domestic repair yards have increased due to the impact of docking restrictions at Chinese repair docks, but many inquiries were received at short notice, making acceptance coordination difficult. In addition, cost-consciousness regarding repairs remained high, forcing the company into price competition with domestic shipyards and making profitability challenging.」
It continues to state that profitability remains challenging due to docking restrictions at Chinese repair docks, difficult acceptance coordination for short-notice inquiries, restrained repair costs and price competition with domestic shipyards. - FY2023-Q2RestatedAnnual report
「In addition, cost-consciousness regarding repairs remained high, forcing the company into price competition with domestic shipyards and making profitability challenging.」
It continues to state that the profitability of the repair vessel business remains challenging due to restrained repair costs and price competition with domestic shipyards. - FY2023-Q1RestatedAnnual report
「In addition, cost-consciousness regarding repairs remained high, forcing the company into price competition with domestic shipyards and making profitability challenging.」
It continues to recognize that the profitability of the repair vessel business is challenging due to restrained repair costs and price competition with domestic shipyards. - FY2022-Q3WorsenedAnnual report
「In the repair vessel business, Chinese repair docks tightened restrictions on docking due to the impact of COVID-19, increasing inquiries from domestic repair yards, but many inquiries were received at short notice, making acceptance coordination difficult. In addition, cost-consciousness regarding repairs remained high, forcing the company into price competition with domestic shipyards and making profitability challenging.」
Stricter docking restrictions at Chinese repair docks have increased inquiries to domestic repair yards, but coordination for accepting short-notice projects remains difficult, while efforts to restrain repair costs and price competition with domestic shipyards continue. - FY2022-Q2RestatedAnnual report
「The repair vessel business also became challenging in terms of both orders and profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to recognize that orders and profitability in the repair vessel business are challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2022-Q1RestatedAnnual report
「In addition, the repair vessel business became challenging in terms of profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to recognize that the profitability of the repair vessel business is challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2021WorsenedAnnual report
「The recent restructuring of the shipbuilding industry is expected to intensify competition among rival companies for survival, making the order environment even more challenging.」
It describes the intensifying competition among rival companies for survival accompanying the restructuring of the shipbuilding industry, in addition to the existing order and profitability risks arising from global vessel supply and demand and competition. - FY2021-Q3RestatedAnnual report
「In addition, the repair vessel business became challenging in terms of profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to recognize that the profitability of the repair vessel business is challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2021-Q2RestatedAnnual report
「In addition, the repair vessel business became challenging in terms of profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to recognize that the profitability of repair vessels is challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2021-Q1RestatedAnnual report
「In addition, the repair vessel business became challenging in terms of profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to recognize that the profitability of repair vessels is challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2020-Q3RestatedAnnual report
「Repair vessel work also became challenging in terms of profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to recognize that the profitability of repair vessels is challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2020-Q2RestatedAnnual report
「Repair vessel work also became challenging in terms of both orders and profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels are challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2020-Q1RestatedAnnual report
「In addition, repair vessel work became challenging in terms of profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that the profitability of repair vessels is challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2019-Q3RestatedAnnual report
「Repair vessel work also became challenging in terms of both orders and profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels remain challenging due to restrained repair costs and competition with domestic and overseas shipyards. No new quantitative risks or actual events have been described. - FY2019-Q2RestatedAnnual report
「Repair vessel work also became challenging in terms of both orders and profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels are challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2019-Q1RestatedAnnual report
「In addition, repair vessel work became challenging in terms of both orders and profitability, as shipping market conditions restrained repair costs and forced the company into intense competition for orders with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels are challenging due to shipping market conditions restraining repair costs and competition with domestic and overseas shipyards. - FY2018RestatedAnnual report
「In addition, the repair vessel business remained challenging in terms of both orders and profitability, as shipping market conditions restrained repair costs and forced the company into intense competition for orders with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels are challenging due to shipping market conditions restraining repair costs and competition with domestic and overseas shipyards. - FY2018-Q3RestatedAnnual report
「Repair vessel work also became challenging in terms of both orders and profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels are challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2018-Q2RestatedAnnual report
「Repair vessel work also became challenging in terms of both orders and profitability, as restrained repair costs forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels are challenging due to restrained repair costs and competition with domestic and overseas shipyards. - FY2018-Q1RestatedAnnual report
「Vessel repair work also faced difficult conditions in both orders and profitability because repair costs were constrained by the continued downturn in shipping market conditions and because of fierce competition with shipyards in Japan and overseas.」
It continues to state that orders and profitability for repair vessels remain challenging due to the slump in shipping market conditions and competition with domestic and overseas shipyards. - FY2017RestatedAnnual report
「Newbuild vessel negotiations fell sharply from the previous year, and vessel prices remained depressed. The repair vessel business also remained challenging in terms of both orders and profitability, as the slump in shipping market conditions restrained repair costs and intense competition with domestic and overseas shipyards continued.」
It continues to state that newbuild negotiations have declined and vessel prices remain depressed, while orders and profitability for repair vessels remain challenging. - FY2017-Q3RestatedAnnual report
「Repair vessel work also remained challenging in terms of both orders and profitability, as the continuing slump in shipping market conditions restrained repair costs and forced the company into intense competition with domestic and overseas shipyards.」
It continues to state that orders and profitability for repair vessels remain challenging due to the slump in shipping market conditions and competition with domestic and overseas shipyards. - FY2017-Q2RestatedAnnual report
「Repair vessel work also remained challenging in terms of both orders and profitability, as the continuing slump in shipping market conditions restrained repair costs and forced the company into intense competition with domestic and overseas shipyards.」
It restates the challenging order and profitability environment for repair vessels caused by the slump in shipping market conditions and competition with domestic and overseas shipyards. - FY2017-Q1RestatedAnnual report
「Vessel repair work also faced difficult conditions in both orders and profitability because repair costs were constrained by the continued downturn in shipping market conditions and because of fierce competition with shipyards in Japan and overseas.」
It is restated that the slump in shipping market conditions and competition with domestic and overseas shipyards are affecting orders and profitability for repair vessels. - FY2016First statedAnnual report
「Changes in order prices arising from cargo volumes and vessel supply and demand in line with trends in the global economy may affect business performance and financial condition.」
The Company states that its vessel repair business continued to face difficult conditions in both orders and profitability because of fierce competition with shipyards in Japan and overseas.