Building Stable Profits Through Long-Term Contracts and Reducing Market Exposure
First written in FY2016. 19 of 31 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2026.
Mitsui O.S.K.Lines moved to the "Worse" side of this theme in 2026.
The whole theme swung hardest in 2026: 1 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「A new hybrid category combining the characteristics of the existing market-exposed and stable-earnings categories will be added, with the aim of achieving diversification benefits through a business portfolio with differing market cycles.」
The portfolio was reorganized from a binary focus on reducing market exposure and securing stable earnings into a diversified portfolio comprising market-exposed, stable-earnings and hybrid categories. - FY2026-H1Tanker profit down, LNG/ethane carrier profit upAnnual report
「Under these business conditions, profit for the tanker business as a whole decreased year on year. The LNG and ethane carrier business increased profit year on year due to nonrecurring non-operating income associated with the refinancing of existing projects. It also continued to secure stable earnings as existing long-term charter contracts continued.」
Tanker profit decreased year on year, while the LNG and ethane carrier business increased profit and secured stable earnings through nonrecurring income and the continuation of long-term charter contracts. - FY2025-H1Tanker profit up, LNG carrier profit downAnnual report
「Against this market backdrop, profits for the tanker business as a whole increased year on year as a result of fulfilling stable long-term contracts and pursuing cost reductions. The LNG carrier business continued to build stable earnings from existing long-term charter contracts and the completion of newbuilds, but profit decreased year on year due to temporary cost increases, including those associated with dry-docking managed vessels.」
The tanker business increased profit year on year through the fulfillment of long-term contracts and cost reductions, while the LNG carrier business built stable earnings but posted lower profit due to temporary costs, including dry-docking expenses for managed vessels. - FY2024-Q3Tanker and FPSO earnings up; LNG broadly unchanged; FSRU earnings downAnnual report
「Under these market conditions, the Tanker Business as a whole reported higher earnings year on year as a result of working to ensure the stable performance of long-term contracts and reduce costs. In the FPSO business, stable earnings continued to be secured through existing long-term charter contracts, while the commencement of new charter contracts also contributed, resulting in higher earnings year on year. In the LNG carrier business, some long-term contracts expired and new contracts were acquired, but profit and loss remained at approximately the previous year’s level. In the FSRU business, some contracts ended and charter operations commenced, but earnings declined year on year.」
The tanker and FPSO businesses, which are based on long-term contracts, reported higher earnings, while LNG remained at approximately the previous year’s level due to the expiry of contracts, and FSRU earnings declined due to contract terminations and other factors. - FY2024-Q1AdvancedAnnual report
「Under these market conditions, the Tanker Business as a whole reported higher earnings year on year as a result of working to ensure the stable performance of long-term contracts and reduce costs. The LNG carrier business continued to secure stable earnings through existing long-term charter contracts. Although some long-term contracts expired, earnings increased year on year due partly to the acquisition of new contracts. In the FSRU business, some contracts ended while new contracts commenced, leaving profit and loss broadly unchanged year on year.」
While continuing to secure stable earnings based on long-term contracts, the LNG carrier business offset the expiry of some contracts by acquiring new ones, and the FSRU business also commenced new contracts. - FY2023ReframedAnnual report
「We will strategically take market exposure in response to changes in the cargo mix and earn high returns during favourable market conditions. In anticipation of future demand growth, we will develop a fleet of LNG carriers for medium- and short-term contracts and pursue market risk-taking within a defined range.」
The policy was reframed from uniformly reducing market exposure to strategically taking market risk within a defined range in the dry bulk and LNG businesses. - FY2023-Q2Tanker earnings up; LNG earnings downAnnual report
「Under these market conditions, the Tanker Business as a whole reported higher earnings year on year as a result of working to ensure the stable performance of long-term contracts and reduce costs. In the LNG carrier business, stable earnings continued to be secured through existing long-term charter contracts, but earnings declined year on year partly because some long-term contracts expired.」
The tanker business reported higher earnings through the performance of long-term contracts and cost reductions, while the LNG carrier business secured stable earnings on the basis of long-term contracts but reported lower earnings due to the expiry of some contracts. - FY2023-Q1AdvancedAnnual report
「In the FPSO business, stable earnings continued to be secured through existing long-term charter contracts, while the commencement of a new project also contributed, resulting in higher earnings year on year. In the LNG carrier business, stable earnings continued to be secured through existing long-term charter contracts, and profit and loss was broadly unchanged year on year. In the FSRU business, an existing vessel commenced additional operations following the execution of a new short-term contract, resulting in higher earnings year on year.」
In addition to stable earnings from FPSOs and LNG carriers backed by long-term charter contracts, the new FPSO project and the additional operations of an existing FSRU vessel under a new short-term contract contributed. - FY2022AdvancedAnnual report
「The LNG Carrier Division secured stable earnings mainly through existing long-term charter contracts, including 1 newly completed LNG carrier and 1 LNG bunkering vessel, and reported higher earnings than in the previous period.」
The completion of 1 LNG carrier and 1 LNG bunkering vessel contributed to stable earnings and higher earnings through operations mainly under long-term charter contracts. - FY2022-Q3AdvancedAnnual report
「In the LNG Carrier Division, 1 LNG bunkering vessel was newly completed and entered into a long-term contract. The division as a whole also continued to secure stable earnings mainly through existing long-term charter contracts.」
One LNG bunkering vessel was completed and placed under a long-term contract. Stable earnings were also secured mainly through existing long-term charter contracts. - FY2022-Q2AdvancedAnnual report
「In the LNG Carrier Division, 1 new vessel commenced operations at an equity-method affiliate, and the division continued to secure stable earnings mainly through existing long-term charter contracts.」
One LNG carrier newly commenced operations at an equity-method affiliate, and stable earnings were secured on the basis of long-term charter contracts. - FY2022-Q1RestatedAnnual report
「Under these market conditions, we worked to ensure the stable performance of long-term contracts and reduce costs, but the Tanker Division as a whole reported lower earnings year on year.」
The Tanker Division continued to perform stable long-term contracts and reduce costs, but earnings declined year on year due to challenging market conditions. - FY2021AdvancedAnnual report
「In the LNG Carrier Division, contracts commenced for 4 new LNG carriers and 1 LNG bunkering vessel. The division also secured stable earnings mainly through existing long-term charter contracts and reported higher earnings year on year.」
In the LNG carrier business, which is based on long-term charter contracts, contracts commenced for 4 LNG carriers and 1 LNG bunkering vessel, while stable earnings were secured and earnings increased. - FY2021-Q3AdvancedAnnual report
「In addition to the stable performance of long-term contracts, the Tanker Division as a whole reported a significant year-on-year increase in earnings and remained profitable, partly as a result of securing favourable contracts by capitalising on historically high market rates.」
In the Tanker Division, favourable contracts were secured by capitalising on high market rates in addition to performing long-term contracts, resulting in a significant year-on-year increase in earnings and profitability. - FY2021-Q2AdvancedAnnual report
「In the LNG Carrier Division, contracts commenced for 1 of the world’s largest LNG bunkering vessels, the first such vessel owned by the Company, and the third conventional LNG carrier for the Yamal LNG project in Russia. The division also remained steadily profitable, mainly through existing long-term charter contracts.」
In the LNG Carrier Division, contracts commenced for 1 of the world’s largest LNG bunkering vessels and the third conventional LNG carrier for the Yamal LNG project, and the division remained profitable on the basis of long-term charter contracts. - FY2021-Q1AdvancedAnnual report
「As a result of working to ensure the stable performance of long-term contracts and reliable contract extensions under these market conditions, the profit and loss position improved significantly year on year.」
The tanker business continued to perform long-term contracts and extend contracts, resulting in a significant year-on-year improvement in profit and loss. - FY2020AdvancedAnnual report
「The LNG Carrier Division secured stable earnings mainly through long-term charter contracts, including 8 newly completed vessels, and reported higher earnings year on year.」
In the LNG carrier business, which is based on long-term charter contracts, stable earnings were secured, including from 8 newly completed vessels, and earnings increased. - FY2020-Q3AdvancedAnnual report
「The LNG Carrier Division secured stable earnings and performed steadily through operations mainly under long-term charter contracts, including 7 newly completed vessels, building earnings and reporting higher earnings year on year.」
The LNG Carrier Division secured stable earnings through operations mainly under long-term charter contracts, including 7 newly completed vessels, and reported higher earnings year on year. - FY2020-Q1AdvancedAnnual report
「The LNG Carrier Division secured stable earnings mainly through long-term charter contracts, including 1 newly completed vessel, and performed steadily.」
The LNG Carrier Division secured stable earnings through operations mainly under long-term charter contracts, including 1 newly completed vessel. - FY2019AdvancedAnnual report
「The LNG Carrier Division secured stable earnings mainly through long-term charter contracts, including 7 newly completed vessels, and reported higher earnings than in the previous period.」
The LNG carrier business, based on long-term charter contracts, secured stable earnings including from 7 newly completed vessels, while 1 FPSO commenced operations in the Offshore Business. - FY2019-Q3AdvancedAnnual report
「The LNG Carrier Division secured stable earnings mainly through medium- and long-term charter contracts, including 4 newly completed vessels. In the Offshore Business, existing projects, including FPSOs and subsea support vessels, operated smoothly and generated stable profits.」
The LNG Carrier Division secured stable earnings through medium- and long-term charter contracts, including 4 newly completed vessels, while existing offshore projects, including FPSOs and subsea support vessels, operated smoothly. - FY2019-Q2AdvancedAnnual report
「The LNG Carrier Division performed steadily, partly because a newbuild vessel for a European customer was newly completed in addition to existing vessels under long-term contracts. In the Offshore Business, existing projects, including a project that commenced operations in June, operated smoothly and generated stable profits.」
In the LNG carrier business, which is based on long-term contracts, a newbuild vessel for a European customer was completed, while existing offshore projects, including one that commenced operations in June, operated smoothly. - FY2019-Q1AdvancedAnnual report
「The LNG Carrier Division performed steadily, partly because the final vessel in a 6-vessel LNG transportation project for China was newly completed in addition to the existing vessels under long-term contracts.」
In the LNG carrier business, which is based on long-term contracts, the final vessel in the 6-vessel LNG transportation project for China was completed, demonstrating concrete progress in the stable earnings base. - FY2018AdvancedAnnual report
「The LNG Carrier Division secured stable earnings from long-term contracts and remained profitable. During the period, 5 vessels were completed, including the first vessel for the world’s first icebreaking LNG carrier project. In the Offshore Business, 1 FPSO and 1 FSRU commenced operations during the period in addition to existing projects, and the business remained steadily profitable for the second consecutive period.」
In addition to stable earnings from LNG carriers backed by long-term contracts, the completion or commencement of operations of 5 LNG carriers, 1 FPSO, and 1 FSRU supported continued stable earnings in the LNG and offshore businesses. - FY2018-Q3RestatedAnnual report
「Under these market conditions, the Tanker Division continued to ensure the stable performance of long-term contracts while working to improve operational efficiency and reduce costs through pool operations, and remained profitable in the cumulative third quarter of the fiscal year.」
The tanker business continued to secure stable earnings and improve efficiency through long-term contracts and pool operations, and remained profitable. - FY2018-Q2AdvancedAnnual report
「The LNG Carrier Division primarily operates under medium- and long-term contracts and continued to generate stable profits in the cumulative second quarter of the fiscal year despite weak short-term market conditions, including with 3 newly completed vessels. In the Offshore Business, 1 FPSO commenced operations, and earnings from subsea support vessels also contributed steadily, resulting in stable profits.」
The LNG carrier business generated stable profits through operations under medium- and long-term contracts, including 3 newly completed vessels, while 1 FPSO commenced operations in the Offshore Business. - FY2018-Q1AdvancedAnnual report
「The LNG carrier market remained generally sluggish as excess vessel capacity persisted. However, the LNG Carrier Division continued to secure stable earnings through long-term contracts, including 2 vessels that commenced operations during the period, and reported higher earnings year on year.」
Even amid weak market conditions, the LNG Carrier Division secured stable earnings from long-term contracts, including 2 newly operational vessels, and reported higher earnings year on year. - FY2017-Q3RestatedAnnual report
「Under these market conditions, the Tanker Division continued to ensure the stable performance of long-term contracts while working to improve operational efficiency and reduce costs through pool operations. As a result, although earnings declined year on year, the division remained profitable in the cumulative third quarter of the fiscal year. The LNG Carrier Division continued to secure stable earnings from existing long-term contracts and reported higher earnings year on year, partly because new projects commenced operations.」
The policy of continuing to position long-term contracts as the foundation for stable earnings in the tanker and LNG carrier businesses remains in place. - FY2017-Q2RestatedAnnual report
「Under these market conditions, the Tanker Division continued to ensure the stable performance of long-term contracts while working to improve operational efficiency and reduce costs through pool operations. As a result, although earnings declined year on year, the division remained profitable in the cumulative second quarter of the fiscal year. The LNG Carrier Division continued to secure stable earnings through long-term contracts and reported higher earnings year on year. The Offshore Business also reported higher earnings year on year as a result of accumulating long-term contracts.」
The policy of continuing to position long-term contracts as the foundation for stable earnings in the tanker, LNG carrier, and offshore businesses remains in place. - FY2017-Q1RestatedAnnual report
「Under these market conditions, the Tanker Division continued to ensure the stable performance of long-term contracts while working to improve operational efficiency and reduce costs through pool operations. As a result, although earnings declined year on year, the division remained profitable in the cumulative first quarter of the fiscal year. The LNG Carrier Division continued to secure stable earnings through long-term transportation contracts and reported higher earnings year on year. The Offshore Business also reported higher earnings year on year as a result of accumulating long-term contracts.」
The policy of continuing to use long-term contracts to stabilise earnings in the tanker, LNG carrier, and offshore businesses remains in place. - FY2016First statedAnnual report
「Under SF2020, we sought to build stable earnings based on long-term contracts while reducing exposure to market conditions, namely the free-operation business in the chartering market.」
The policy indicates that long-term contracts will be used as a source of stable earnings while reducing sensitivity to market conditions through free operations.