Risks from fluctuations in shipping market conditions, foreign exchange rates and the global economy
First written in FY2017-Q1. 15 of 37 entries say "Materialised", first in FY2017. Latest entry: 2026-08-04.
Iino Kaiun moved to the "Worse" side of this theme in 2016.
1 other company's latest entry also says "Other".
- FY2026MaterialisedAnnual report
「Market conditions for large gas carriers and dry bulk carriers were generally firm, but conditions for chemical tankers, the Group's core vessel type, softened compared with the previous fiscal year due to the sluggish Chinese economy and other factors.」
Differences in market conditions by vessel type continued, with core chemical tanker conditions softening year on year against the backdrop of the sluggish Chinese economy and other factors. - FY2026-H1Volatility in market conditions by vessel type; chemical tanker conditions softenAnnual report
「Chemical tanker market conditions softened compared with the same period of the previous year as product demand continued to decline amid a slowdown in the Chinese economy and heightened uncertainty resulting from U.S. tariff policies.」
Chemical tanker market conditions softened against the backdrop of a slowdown in the Chinese economy and uncertainty arising from U.S. tariff policies. Conditions for large crude oil tankers, LPG carriers and dry bulk carriers followed different trends by vessel type. - FY2025Core vessel types remain at high levels, but overall conditions are weakAnnual report
「Chemical tankers, the Group's core vessel type, remained at high levels as tight vessel supply and demand caused by the situation in the Red Sea continued, but conditions overall remained weak compared with the previous fiscal year.」
Tight vessel supply and demand due to the Red Sea situation continued, and core chemical tanker market conditions remained at high levels, while overall shipping market conditions were weak compared with the previous fiscal year. - FY2025-H1Continued volatility in market conditions by vessel type; uncertainty driven by the Red Sea situationAnnual report
「Market conditions surrounding the Group's shipping business remained uncertain due to the worsening situation in the Red Sea, but chemical tankers, the Group's core vessel type, remained at high levels.」
While uncertainty continued due to the worsening situation in the Red Sea, chemical tanker market conditions remained at high levels. Market conditions for large crude oil tankers, LPG carriers, LNG carriers and dry bulk carriers softened, and excess vessel capacity was also noted, with differences in conditions by vessel type continuing. - FY2024-Q3MaterialisedAnnual report
「Meanwhile, a series of attacks by Yemen's Houthi movement on vessels sailing through the Red Sea in November heightened concerns about disruption to maritime logistics and increased uncertainty over the outlook for market conditions.」
A series of actual attacks on vessels sailing through the Red Sea has affected the shipping business through concerns about disruption to maritime logistics and uncertainty over market conditions. - FY2024-Q2Continued volatility in market conditions by vessel type; LPG surges while chemical tankers remain stableAnnual report
「Large crude oil tanker market conditions generally softened due to the continued coordinated production cuts by OPEC+ and delays in the recovery of the Chinese economy. Although chemical tanker market conditions remained at high levels, they tended to soften from the beginning of the period through the summer against the backdrop of concerns about a global recession and delays in the recovery of the Chinese economy. Subsequently, vessel supply and demand tightened due to bad weather in Asia and other factors, while improving conditions for competing product tankers also contributed to generally stable conditions.」
Large crude oil tankers softened, while chemical tankers were generally stable after a temporary softening. LPG carriers reached record-high levels against the backdrop of increased long-distance transportation from North America to the Far East, and differences in conditions by vessel type continue. - FY2024-Q1Continued divergence by vessel type; chemical tanker conditions soften while other vessel types remain weakAnnual report
「Market conditions surrounding the Group's shipping business remained affected by changes in maritime logistics stemming from the Russia-Ukraine situation and other factors. Chemical tankers and large LPG carriers remained at high levels, while other vessel types remained weak against the backdrop of a slowdown in the global economy and other factors. Although chemical tanker market conditions remained at high levels, they tended to soften amid growing concerns about a global recession and delays in the recovery of the Chinese economy.」
Chemical tankers and large LPG carriers remained at high levels, although chemical tanker conditions began to soften. Other vessel types, including large crude oil tankers, LNG carriers and dry bulk carriers, remained weak. - FY2023-Q3Differences in market conditions by vessel type continue, with dry bulk softeningAnnual report
「Market conditions surrounding the Group's shipping business were strong compared with the previous fiscal year. Conditions for dry bulk carriers, however, softened toward the end of the third quarter, while chemical tankers and large gas carriers, the Group's core vessel types, remained at high levels amid changes in maritime logistics stemming from the situation in Ukraine and other factors.」
While dry bulk carrier market conditions softened toward the end of the third quarter, chemical tankers and large gas carriers remained at high levels, with differences in market conditions by vessel type continuing. - FY2023-Q2Differences in performance by vessel type continue, while dry bulk softensAnnual report
「Market conditions surrounding the Group's shipping business remained at high levels for chemical tankers and large gas vessels due to changes in maritime logistics stemming from the situation in Ukraine, among other factors. Meanwhile, although dry bulk market conditions, which had been favorable since the previous period, remained at high levels, they entered a softening trend toward the end of the second quarter.」
Chemical tankers and large gas vessels remained at high levels, while dry bulk vessels, although still at high levels, entered a softening trend toward the end of the second quarter. Differences in market conditions by vessel type continue. - FY2023-Q1Chemical tankers and dry bulk at high levels, crude oil tankers weakAnnual report
「Market conditions surrounding the Group's shipping business continued to underperform for large crude oil tankers, but remained at high levels for chemical tankers and dry bulk vessels due to changes in maritime logistics stemming from the situation in Ukraine, among other factors.」
While large crude oil tankers continued to underperform, chemical tankers and dry bulk vessels reached high levels against a backdrop of changes in maritime logistics associated with the situation in Ukraine, among other factors. Differences in market conditions between vessel types continued. - FY2022Chemical tankers recover, but large crude oil tankers remain weak and operational constraints continueAnnual report
「Market conditions surrounding the Group's shipping business remained at high levels for dry bulk vessels throughout the period, and chemical tankers also entered a recovery trend. However, operational risks, including restrictions on crew changes due to the pandemic, were not resolved, and the unpredictable situation continued.」
Dry bulk market conditions remained high and chemical tankers entered a recovery trend, while operational risks such as restrictions on crew changes due to the pandemic have not been resolved. Large crude oil tankers continued to underperform. - FY2022-Q3Chemical tankers recover, but large crude oil tankers remain weak and operational constraints continueAnnual report
「Market conditions surrounding the Group's shipping business remained at high levels for LNG vessels and dry bulk vessels, and chemical tankers, which had been weak, also entered a recovery trend. Large crude oil tankers, however, continued to underperform. Operational risks, including restrictions on crew changes due to the pandemic, were not resolved, and the unpredictable situation continued.」
High market levels continued for LNG vessels and dry bulk vessels, while chemical tankers shifted to a recovery trend. Large crude oil tankers remained weak, and restrictions on crew changes due to the pandemic continued. - FY2022-Q2Differences in market conditions by vessel type and operational constraints continueAnnual report
「Market conditions surrounding the Group's shipping business remained at high levels for LNG vessels and dry bulk vessels, but continued to underperform for large crude oil tankers and chemical tankers. Operational risks, including restrictions on crew changes due to the pandemic, were not resolved, and the unpredictable situation continued.」
LNG vessels and dry bulk vessels remained at high levels, while large crude oil tankers and chemical tankers continued to underperform, with differences in market conditions by vessel type and operational risks such as restrictions on crew changes continuing. - FY2022-Q1Dry bulk remains at high levels, but mainstay vessel types are weak and operational risks continueAnnual report
「Market conditions surrounding the Group's shipping business remained at high levels for dry bulk vessels but were weak for chemical tankers and large crude oil tankers. Operational risks, including restrictions on crew changes due to the pandemic, were not resolved, and the unpredictable situation continued.」
Dry bulk vessels reached high levels, while chemical tankers and large crude oil tankers remained weak, with differences in market conditions by vessel type continuing. Operational risks, including restrictions on crew changes due to the pandemic, have also not been resolved. - FY2021-Q3Divergence by vessel type, with pandemic risks continuingAnnual report
「Market conditions surrounding the Group's shipping business surged for large gas vessels and remained firm for dry bulk vessels. However, although chemical tankers and large crude oil tankers temporarily surged at the beginning of the period, they subsequently declined and remained weak. Operational risks also emerged, including slower transportation demand due to the pandemic and restrictions on crew changes to prevent its spread. As there is still no clear prospect for the pandemic to subside, the overall situation is expected to remain unpredictable.」
While large gas vessels remained firm and surged, chemical tankers and large crude oil tankers declined and remained weak. Slower demand due to the pandemic and restrictions on crew changes also emerged, with differences in market conditions by vessel type coexisting with operational risks. - FY2021-Q2MaterialisedAnnual report
「Market conditions for the Group's mainstay chemical tankers and large crude oil tankers declined toward the end of the second quarter. In addition, operational risks emerged, including slower transportation demand due to the pandemic and restrictions on crew changes to prevent its spread.」
In addition to declining market conditions for the mainstay vessel types, the slowdown in transportation demand caused by the pandemic and restrictions on crew changes actually emerged as operational risks. - FY2021-Q1Divergence by vessel type amid the pandemicAnnual report
「Market conditions surrounding the Group's shipping business improved for its mainstay chemical tankers, but weakened for large crude oil tankers and large gas vessels. As the pandemic also showed no signs of abating, the overall situation is expected to remain unpredictable.」
The mainstay chemical tankers shifted to favorable conditions, while large crude oil tankers and large gas vessels weakened. With no end to the pandemic in sight, the overall situation remains unpredictable. - FY2020-Q3Recovery in market conditions, but residual risks remainAnnual report
「Market conditions surrounding the Group's shipping business remained firm for oil tankers and large gas carriers, while chemical tankers, which had continued to underperform due in part to the slowdown in the global economy, also entered a recovery trend.」
Oil tankers and large gas carriers remained firm, and chemical tankers also shifted to a recovery trend, but risks from the global economic slowdown and market volatility by vessel type remain. - FY2020-Q2MaterialisedAnnual report
「Market conditions surrounding the Group's shipping business remained firm for LPG carriers and dry bulk carriers, but continued to underperform for the Group's mainstay chemical tankers due in part to the slowdown in the global economy, leaving uncertainty in place.」
Weak market conditions for chemical tankers continued, and the oceangoing shipping business posted an operating loss of ¥18 million, indicating that volatility risks related to market conditions and the global economy were reflected in results. - FY2020-Q1WorsenedAnnual report
「During the first quarter of the fiscal year, the global economy accelerated its slowdown due to trade issues and economic weakness in various countries, among other factors.」
The global economy's slowdown accelerated, while market conditions for the mainstay chemical tankers remained weak. The oceangoing shipping business posted an operating loss of ¥306 million, and the impact of market volatility risk continued. - FY2019MaterialisedAnnual report
「Overall uncertainty remained, as the Group's mainstay chemical tankers continued to underperform due to excess tonnage during the period, among other factors.」
The oversupply of chemical tanker tonnage and weak market conditions continued, with market volatility risk reflected in results for the period, including a 66.0% decline in operating profit in the oceangoing shipping business from the previous period. - FY2019-Q3Partial recovery, but uncertainty remainsAnnual report
「Market conditions surrounding the Group's shipping business showed signs of recovery for dry bulk carriers, while chemical tankers, which had continued to underperform due to excess tonnage, entered a phase of gradual recovery as winter approached, although uncertainty remained.」
Although recovery phases were seen in dry bulk and chemical tankers, excess tonnage and uncertainty remained. - FY2019-Q2MaterialisedAnnual report
「Market conditions surrounding the Group's shipping business showed signs of recovery for dry bulk carriers, but remained weak for the Group's mainstay chemical tankers as the oversupply of tonnage remained unresolved. As a result, revenue from the oceangoing shipping business was ¥3,213.8 million, up 4.5% year on year, while operating profit was ¥110.7 million, down 20.1% year on year.」
The oversupply of chemical tanker tonnage and weak market conditions continued, resulting in a 20.1% year-on-year decline in operating profit in the oceangoing shipping business. - FY2019-Q1RestatedAnnual report
「In the Group's shipping business, market conditions showed signs of recovery for some vessel types, but the oversupply of tonnage remained unresolved and the business environment did not improve materially.」
The challenging environment caused by excess tonnage continued, while some vessel types showed signs of recovery. - FY2018MaterialisedAnnual report
「Overall, the oversupply of tonnage remained unresolved in the shipping business, and the business environment did not improve materially.」
The oversupply of tonnage continued, and market volatility risk was reflected in results for the period, including a 34.8% decline in operating profit in the oceangoing shipping business from the previous period. - FY2018-Q2MaterialisedAnnual report
「The recovery of market conditions for some vessel types and the weaker yen provided tailwinds, but overall the oversupply of tonnage remained unresolved and the business environment did not improve materially.」
Although some markets recovered and the weaker yen provided a tailwind, excess tonnage continued and the challenging shipping environment persisted. - FY2018-Q1MaterialisedAnnual report
「In the Group's shipping business, the yen remained at the same level as in the same period of the previous year, but the business environment became challenging due to weak market conditions for some vessel types, among other factors.」
Weak market conditions for some vessel types actually emerged during the quarter, and operating profit in the oceangoing shipping business declined 71.0% year on year. - FY2017MaterialisedAnnual report
「In the shipping business, the business environment became challenging because the yen was stronger against the U.S. dollar than in the same period of the previous year and market conditions remained weak, among other factors.」
Yen appreciation and weak shipping markets actually affected the business environment and results for the period, with revenue down 12.2% from the previous period and operating profit down 18.8%. - FY2017-Q3RestatedAnnual report
「In the Group's shipping business, the business environment became challenging because the yen was stronger against the U.S. dollar than in the same period of the previous year and market conditions remained weak, among other factors.」
The Company continues to report a challenging business environment caused by yen appreciation and weak shipping markets. For the cumulative quarter-to-date period, revenue declined 13.9% year on year and operating profit declined 20.0%. - FY2017-Q2WorsenedAnnual report
「The oil tanker market weakened sharply due to the seasonal summer lull in demand and an increase in newbuildings, among other factors.」
Market conditions continued to soften and remain weak across several vessel types, with the impact of volatility risk becoming more apparent, including a 19.3% year-on-year decline in revenue from the oceangoing shipping business. - FY2017-Q1First statedAnnual report
「In the Group's shipping business, the business environment became challenging because the yen was stronger against the U.S. dollar than in the same period of the previous year and market conditions remained weak for some vessel types.」
The business environment during the quarter reflected yen appreciation, weak market conditions for some vessel types, a slowdown in the Chinese economy and the decision for the United Kingdom to leave the EU.