Risk of Fluctuations in Fuel Oil Prices
First written in FY2017. 17 of 29 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-08-04.
Iino Kaiun moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2021: 3 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2026-H1MitigatedAnnual report
「Exchange rate ¥153.89/US$ ¥146.18/US$ △¥7.71/US$ Fuel oil price* US$637/MT US$530/MT △US$107/MT」
The yen strengthened year on year, and the price of compliant fuel oil declined from US$637/MT to US$530/MT, reducing the foreign exchange and fuel cost burdens from the same period of the previous year. - FY2025-H1WorsenedAnnual report
「Exchange rate ¥139.93/US$ ¥153.89/US$ +¥13.96/US$ Fuel oil price* US$597/MT US$637/MT +US$40/MT」
The yen weakened year on year, and the price of compliant fuel oil rose from US$597/MT to US$637/MT, increasing both the foreign exchange and fuel cost burdens. - FY2024-Q3RestatedAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥142.86/US$ (¥135.70/US$ in the same period of the previous year). For marine fuel oil prices, the average price of compliant fuel oil was US$617/MT (US$854/MT in the same period of the previous year).」
The yen weakened year on year, while the price of compliant fuel oil declined, so foreign exchange and fuel oil prices moved in opposite directions. - FY2024-Q2Continued yen depreciation; decline in fuel oil pricesAnnual report
「The Group's average exchange rate during the six months ended the second quarter of the current fiscal year was ¥139.93/US$ (¥131.56/US$ in the same period of the previous year), and the average price of marine fuel oil (compliant fuel oil) was US$597/MT (US$910/MT in the same period of the previous year).」
The yen weakened year on year, while the price of compliant fuel oil declined from US$910/MT to US$597/MT. Foreign exchange and fuel oil prices moved in opposite directions. - FY2024-Q1Continued yen depreciation; decline in fuel oil pricesAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥135.81/US$ (¥126.49/US$ in the same period of the previous year), and the average price of marine fuel oil (compliant fuel oil) was US$601/MT (US$840/MT in the same period of the previous year).」
The yen weakened from the same period of the previous year, while the price of compliant fuel oil declined from US$840/MT to US$601/MT. The burdens from foreign exchange and fuel oil prices moved in opposite directions. - FY2023-Q3Continued yen depreciation; fuel oil prices at higher year-on-year levelsAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥135.70/US$ (¥110.97/US$ in the same period of the previous year). For marine fuel oil prices, the average price of compliant fuel oil was US$854/MT (US$531/MT in the same period of the previous year).」
The yen weakened from the same period of the previous year, and the price of compliant fuel oil also exceeded the level in the same period of the previous year. Although fuel oil prices declined from the previous quarter, cost fluctuation risk from fuel costs and foreign exchange remained high. - FY2023-Q2WorsenedAnnual report
「The Group's average exchange rate during the six months ended the second quarter of the current fiscal year was ¥131.56/US$ (¥109.90/US$ in the same period of the previous year). For marine fuel oil prices, the average price of compliant fuel oil was US$910/MT (US$514/MT in the same period of the previous year).」
The yen weakened further, and the average price of compliant fuel oil rose from US$514/MT in the same period of the previous year to US$910/MT, increasing the fuel cost burden and related cost fluctuation risk. - FY2023-Q1WorsenedAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥126.49/US$ (¥109.80/US$ in the same period of the previous year). For marine fuel oil prices, the average price of compliant fuel oil was US$840/MT (US$496/MT in the same period of the previous year).」
The average price of compliant fuel oil rose from US$496/MT in the same period of the previous year to US$840/MT, while the yen also weakened, increasing the fuel cost burden and related cost fluctuation risk. - FY2022WorsenedAnnual report
「The Group's average exchange rate during the fiscal year was ¥112.06/US$ (¥105.79/US$ in the previous fiscal year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$423/MT (US$269/MT in the previous fiscal year), while the average price of compliant fuel oil was US$558/MT (US$346/MT in the previous fiscal year).」
The average prices of C heavy fuel oil and compliant fuel oil during the fiscal year were substantially higher than in the previous fiscal year, increasing the fuel cost burden. - FY2022-Q3WorsenedAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥110.97/US$ (¥106.14/US$ in the same period of the previous year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$405/MT (US$249/MT in the same period of the previous year), while the average price of compliant fuel oil was US$531/MT (US$324/MT in the same period of the previous year).」
The average price of 380 cSt C heavy fuel oil rose from US$249/MT to US$405/MT year on year, while the average price of compliant fuel oil rose from US$324/MT to US$531/MT, increasing the fuel cost burden. - FY2022-Q2WorsenedAnnual report
「The Group's average exchange rate during the six months ended the second quarter of the current fiscal year was ¥109.90/US$ (¥106.82/US$ in the same period of the previous year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$383/MT (US$225/MT in the same period of the previous year), while the average price of compliant fuel oil was US$514/MT (US$318/MT in the same period of the previous year).」
The average prices of C heavy fuel oil and compliant fuel oil were substantially higher than in the same period of the previous year, increasing the cost burden from fuel oil price fluctuations. - FY2022-Q1WorsenedAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥109.80/US$ (¥107.74/US$ in the same period of the previous year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$373/MT (US$207/MT in the same period of the previous year), while the average price of compliant fuel oil was US$496/MT (US$328/MT in the same period of the previous year).」
The average prices of C heavy fuel oil and compliant fuel oil were substantially higher than in the same period of the previous year, increasing the cost burden from fuel oil price fluctuations. - FY2021-Q3Continued change in fuel type; decline year on yearAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥106.14/US$ (¥109.05/US$ in the same period of the previous year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$249/MT (US$412/MT in the same period of the previous year), while the average price of compliant fuel oil was US$324/MT (not used in the same period of the previous year).」
The average price of 380 cSt C heavy fuel oil declined from the same period of the previous year, while the company continues to disclose the price of compliant fuel oil, which was not used in the same period of the previous year, alongside it. This indicates a change in fuel type and price levels. - FY2021-Q2MitigatedAnnual report
「The Group's average exchange rate during the six months ended the second quarter of the current fiscal year was ¥106.82/US$ (¥109.18/US$ in the same period of the previous year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$225/MT (US$422/MT in the same period of the previous year), while the average price of compliant fuel oil was US$318/MT (not used in the same period of the previous year).」
The average price of C heavy fuel oil declined from US$422/MT in the same period of the previous year to US$225/MT, reducing the burden from this fuel price compared with the same period of the previous year. Meanwhile, the price of compliant fuel oil was newly disclosed alongside it. - FY2021-Q1Change in fuel type and changes in price levelsAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥107.74/US$ (¥110.73/US$ in the same period of the previous year). For marine fuel oil prices, the average price of 380 cSt C heavy fuel oil was US$207/MT (US$429/MT in the same period of the previous year), while the average price of compliant fuel oil was US$328/MT (not used in the same period of the previous year).」
The average price of C heavy fuel oil declined from the same period of the previous year, while the company newly disclosed the average price of compliant fuel oil, which had not been used in the same period of the previous year, indicating a change in fuel type. - FY2020-Q3MitigatedAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥109.05/US$ (¥110.80/US$ in the same period of the previous year), and its average fuel oil price was US$412/MT (US$436/MT in the same period of the previous year).」
The average fuel oil price declined from US$436/MT in the same period of the previous year to US$412/MT, reducing the price burden during the period compared with the same period of the previous year. - FY2020-Q2RestatedAnnual report
「The average fuel oil price was US$422/MT (US$418/MT in the same period of the previous year).」
Although the average fuel oil price exceeded the level in the same period of the previous year, it declined from the previous period's level, and the company continues to disclose the risk of fuel oil price fluctuations. - FY2020-Q1WorsenedAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥110.73/US$ (¥108.10/US$ in the same period of the previous year), and its average fuel oil price was US$429/MT (US$387/MT in the same period of the previous year).」
The average fuel oil price rose from US$387/MT in the same period of the previous year to US$429/MT, and the increase in the fuel cost burden has continued. - FY2019WorsenedAnnual report
「The average fuel oil price was US$430/MT (US$337/MT in the previous fiscal year).」
The average fuel oil price rose to US$430/MT in the previous year, and the increase in the fuel cost burden has continued. - FY2019-Q3WorsenedAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥110.80/US$ (¥111.68/US$ in the same period of the previous year), and its average fuel oil price was US$436/MT (US$322/MT in the same period of the previous year).」
The average fuel oil price rose from US$322/MT in the same period of the previous year to US$436/MT, increasing the fuel cost burden. - FY2019-Q2WorsenedAnnual report
「The Group's average exchange rate during the six months ended the second quarter of the current fiscal year was ¥109.48/US$ (¥111.20/US$ in the same period of the previous year), and its average fuel oil price was US$418/MT (US$313/MT in the same period of the previous year).」
The average fuel oil price rose from US$313/MT in the same period of the previous year to US$418/MT, increasing the fuel cost burden. - FY2019-Q1WorsenedAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥108.10/US$ (¥111.48/US$ in the same period of the previous year), and its average fuel oil price was US$387/MT (US$318/MT in the same period of the previous year).」
The average fuel oil price rose from US$318/MT in the same period of the previous year to US$387/MT, increasing the fuel cost burden. - FY2018WorsenedAnnual report
「The average exchange rate during the fiscal year was ¥111.19/US$ (¥108.93/US$ in the previous fiscal year), and the average fuel oil price was US$337/MT (US$257/MT in the previous fiscal year).」
The average fuel oil price rose from US$257/MT in the previous year to US$337/MT, increasing the risk from fuel oil price fluctuations. - FY2018-Q3WorsenedAnnual report
「The Group's average exchange rate during the nine months ended the third quarter of the current fiscal year was ¥111.68/US$ (¥107.14/US$ in the same period of the previous year), and its average fuel oil price was US$322/MT (US$234/MT in the same period of the previous year).」
The average fuel oil price rose from US$234/MT in the same period of the previous year to US$322/MT, and the average price level for the period was higher than at the time of the previous quarter's report. - FY2018-Q2RestatedAnnual report
「The Group's average exchange rate during the six months ended the second quarter of the current fiscal year was ¥111.20/US$ (¥107.65/US$ in the same period of the previous year), and its average fuel oil price was US$313/MT (US$216/MT in the same period of the previous year).」
Although the average fuel oil price was higher than in the same period of the previous year, no additional deterioration from the previous quarter was stated. - FY2018-Q1WorsenedAnnual report
「The Group's average exchange rate during the six months ended the first quarter of the current fiscal year was ¥111.48/US$ (¥111.79/US$ in the same period of the previous year), and its average fuel oil price was US$318/MT (US$192/MT in the same period of the previous year).」
The average fuel oil price rose from US$192/MT in the same period of the previous year to US$318/MT. - FY2017First statedAnnual report
「In the shipping business, the price of marine fuel oil purchased by the Group fluctuates according to the balance of supply and demand for crude oil and conditions in oil-producing countries and regions. The Group is taking measures to mitigate the impact on results, including diversifying the locations and timing of bunkering, reducing fuel oil consumption through slow steaming, and agreeing with shippers on fuel oil price adjustment clauses.」
The company identifies fluctuations in fuel oil prices as a risk and describes measures including diversifying bunkering, slow steaming and price adjustment clauses.