Vessel Sales, Early Termination of Charter Contracts and Obsolescence Risk
First written in FY2017. 12 of 15 entries say "Materialised", first in FY2019-Q2. Latest entry: FY2026.
Iino Kaiun moved to the "Worse" side of this theme in 2018.
0 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「At a meeting of the Board of Directors held on 6 March 2026, the Company resolved to sell 1 large crude oil tanker owned by a consolidated subsidiary. As a result, the Company plans to record approximately ¥7.1 billion as a gain on sale of fixed assets (extraordinary income) in the first quarter of the fiscal year ending March 2027.」
It states that the sale of 1 large crude oil tanker was actually resolved and that a gain on sale of fixed assets of approximately ¥7.1 billion is expected to be recorded in the following fiscal year. - FY2026-H1MaterialisedAnnual report
「Charter cancellation fee - 138」
A charter cancellation fee of ¥138 million was recorded as an extraordinary loss for the interim consolidated accounting period, indicating that losses related to charter contracts had materialised. - FY2025MaterialisedAnnual report
「The company sold 1 LNG vessel to make effective use of management resources and improve asset efficiency.」
Vessel sales based on market conditions and asset efficiency were also carried out in FY2025, and risk events related to vessel sales continue to materialise. - FY2024-Q3MaterialisedAnnual report
「The company sold 1 chemical tanker to make effective use of management resources and improve asset efficiency.」
The sale of 1 chemical tanker was actually completed to improve asset efficiency, indicating the emergence of a risk event related to vessel sales. - FY2023-Q2MaterialisedAnnual report
「In addition, 1 large crude oil tanker was sold to make effective use of management resources and improve asset efficiency.」
The sale of 1 large crude oil tanker was actually completed, indicating the emergence of a risk event related to vessel sales and fleet composition adjustments. - FY2023-Q1MaterialisedAnnual report
「The company decided to sell 1 large crude oil tanker to make effective use of management resources and improve asset efficiency.」
The sale of 1 large crude oil tanker was actually decided, indicating the emergence of a risk event related to vessel sales and fleet composition adjustments. - FY2022MaterialisedAnnual report
「The principal equipment sold during the fiscal year was as follows.」
During the period, 13 vessels in the ocean shipping business and 1 vessel in the coastal and near-seas shipping businesses were sold, indicating that vessel sales were actually carried out in light of market conditions and asset efficiency. - FY2020-Q3MaterialisedAnnual report
「At a Board of Directors meeting held on 26 December 2019, the company resolved to sell 1 chemical tanker it owned. It also resolved to sell 1 other vessel.」
A resolution was passed to sell 2 vessels, indicating the actual occurrence of an event related to vessel-sale risk. - FY2020-Q1MaterialisedAnnual report
「The Company decided to dissolve and liquidate the entity because it had sold its vessels and had no plans to own vessels in the future.」
The Company resolved to dissolve and liquidate consolidated subsidiary IINO SHIPPING ASIA PTE. LTD. because it had sold its vessels and had no plans to own vessels in the future. - FY2019MaterialisedAnnual report
「Following the termination of the contract, one small handy-size vessel was redelivered during the period to improve fleet efficiency.」
One vessel was actually redelivered following the termination of its contract, and one operating vessel was disposed of amid weak market conditions. - FY2019-Q3MaterialisedAnnual report
「Our Group sought to improve vessel allocation efficiency and operating profitability, including through efforts to renew existing contracts on more favourable terms. We also assessed conditions in the vessel sale market and disposed of older vessels, recording gains on sales of fixed assets as extraordinary income.」
An older vessel was actually disposed of in light of market conditions and the sale-and-purchase market, and a gain on sale of fixed assets was recorded. - FY2019-Q2MaterialisedAnnual report
「In the product tanker business, in response to weak market conditions, we disposed of 1 vessel and sought to improve earnings.」
Against a backdrop of depressed market conditions, one product tanker was actually disposed of, indicating the occurrence of an event related to vessel-sale risk. - FY2018-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
It concludes that there have been no material changes regarding the risks of vessel sales, early termination of charter contracts and obsolescence. - FY2018-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
It concludes that there have been no material changes regarding the risks of vessel sales, early termination of charter contracts and obsolescence. - FY2017First statedAnnual report
「In the shipping business, the Group may sell vessels it owns or terminate charter contracts for vessels it charters before their contractual expiry due to trends in the shipping market, the obsolescence of existing vessels resulting from the development and adoption of new vessel technologies, restrictions on vessel use resulting from changes to safety, environmental and other regulations, and other factors.」
It identifies as risks the obsolescence and use restrictions affecting vessels due to market conditions, new technologies and regulatory changes, as well as the resulting vessel sales and early contract terminations.