factbook 2013

Transcription

factbook 2013

　◇◆◇◆◇◆ ＩＮＤＥＸ　1. Management Plan and Improvement of Business Structure
1-1. 2012 April "K"Line Vision 100 "Bridge to the Future"
①Review of the Medium-term Management Plan
P2
②Missions for Medium-term Management Plan
③Target for Financial Indices
④Trends of Business Performance (P/L)
P3
⑤Improvement in Financial Position
⑥Segment-wise Performance
⑦Fleet Upgrading Plan and Investment
P4
⑧Investment CF
⑨New Buildings (Results and Plan)
1-2. Trends of Financial Indices
①Net Income and Dividend per Share
P5
②Consolidated ROE/ROA
③Consolidated Assets Turnover
④Consolidated EV/EBITDA
⑤Operating Cash Flow
⑥Consolidated Interest Coverage Ratio
1-3. History of Management Plans
P6
1-4. Effort for Structural Reform
①No. of Seafarers/ "K"Line Employee
P7
②Our Fleet Scale, Revenures & Ordinary Income
1-5. Current Business Composition ①Revenues, Ordinary Income <Division/Segment>
P8
②Fleet Composition & Division/Segment-wise Revnues
◆◇◆◇◆◇
4. Bulk Carrier Business
4-1. "K"Line Fleet
4-2. Demand on Dry Bulk
① Major Container Carriers
② Containership Asia-N.America Loading Volume
③ Historical Top 20 Container Carriers
Trade Share Breakdown by Carrier/Alliance
④ Transition of Alliances for Containership
⑤ Cape-size Bulker Fleet
⑥ Panamax Bulker Fleet
⑦ Handymax Bulker Fleet
⑧ Dry Bulker(All Types) Fleet
⑨ PCTC Operated
⑩ LNG Fleet (Managed)
⑪ Heavy Lifter Owned
⑫ Containership Fleet
5-1. Fleet and Cargo Movements ①
②
③
5-2. Demand on Vehicles
①
②
③
④
⑤
Dry Bulk Carriers by Vessel-type/Age
PCC by Vessel-type/Age
Oil Tankers by Vessel-type/Age
Containerships by Vessel-type/Age
Ship Price as of Placing Order
Dry Bulker and Tanker Market
World Newbuilding Orders
World Newbuilding Work In Progress
World Newbuilding Delivery
World Total Existing Tonnage
Dry Bulker Scrap
Oil Tanker Scrap
Scrap Metal Prices
Scrap History by Vessel-type
Global Cargo Movements
Dry Bulk Market
Tanker Market
China Containerized Freight Index (CCFI) History
Key Economic Indicators for North America
Real GDP Growth
Mining and Industrial Output Growth (%)
Iron Ore Import
Steel Export and Import of China
Sales of Automobiles
Grain Transportation Driven by China (Soy Bean)
Trade Trends for China
Energy Consumption in China
Per Capita GDP by Province in China
Economic gap between Urban and Rural Areas
"K"Line PCC Fleet
Cars/Trucks Transported by Our Fleet
Total Cars/Trucks Exported from Japan
World Automobile Production (2012)
No. of Vehicles Possessed (Cars/1,000 People)
P25
P23
P24
P26
Transition of Overseas Production by Japanese Automakers
Car Production and Sales in USA
Monthly Automobile Export Volume from Japan
6-1. Fleet and Cargo Volume
6-2.
6-3.
P11
P12
6-4.
P13
6-5.
① "K"Line Containership Fleet
P27
② "K"Line Average Freight/Volume for All Routes
③ "K"Line Volume & Share for Asia-N.America/Europe
④ "K"Line/Market Volume and L/F for Asia-N.America/Europe
P28
Container Terminal Operated by "K"Line
P29
Cargo Movements
① Container Cargo Movements
P30
② Asia=>N.America/Europe Cargo Volume by Country
Handling Volume by Port
① Container Handling Volume in Asia
P31
② Top 10 Ports for 2012 Container Handling
③ Transition of Container Handling among Major Ports in Asia
④ Asia-N.America Trade Trends by Commodity
Factory of the World, Asia ① Procuction by Country
P32
② Trends of Export from Asian Major Countries and Regions
7. New Businesses
3. World Market
3-1. Fleet Scale by Vessel-type/Age ①
②
③
④
3-2. Trend of Newbuildings
①
②
③
④
⑤
⑥
⑦
⑧
⑨
⑩
3-3. Global Cargo Movement
①
②
③
④
3-4. Latest Economic Trends
①
②
③
④
⑤
⑥
3-5. Emerging Markets (China)
①
②
③
④
⑤
P22
6. Containership Business
P9
P10
"K"Line Dry Bulk Fleet
"K"Line Energy Transportation Fleet
Ship Price as of Placing Order (Same as 3-2-①)
Number of LNG Carriers
Transition of Crude Steel Production
Global Main Trades of Coal
World Coal Consumption
Iron Ore Import into Major Asian Countries
Iron Ore Stocks at Chinese Ports
BDI & Port Congestion in Australia
5. Car Carrier Business
2. Comparison to Major Shipping Companies
2-1. Fleet-scale Ranking
①
②
③
④
①
②
③
④
⑤
⑥
P14
P15
P16
P17
7-1. Business Target of our Energy Transportation Division
7-2. New Business Expansion
① Heavy Lifter Business
② Offshore Support Vessel Business
③ Drillship Business
④ LNG FPSO Projects
8. Financial Data
9. Panama Canal Expansion Program
10. Shipping Business in 2030
① World Population Prospects
②
③
④
⑤
⑥
P18
P33
P34
P35
P36
P37
P38
P39
GDP
Consumers’ expanding purchasing power in ASIA
Automobile Market
P40
Results and Proepect of Marine Transportation Cargo Volume
Production of Deepwater Crude Oil
11. "K"Line Overview
P19
P20
11-1 "K"Line
Corporate Governance System
11-2 Safety
in Navigation and Cargo Operations
11-3 Enviroment
Preservation
11-4 Approach
to Ballast Water Management
11-5 Brief
History
11-6 Press
Releases for FY2012 （Apr.2012-Mar.2013）
11-7 Certification
by Third-party Organization & Information on Convertible Bonds/Ratings
11-8 Corporate
Principles and Charter of Conduct
12. Tonnage Tax
13. IR Policy
14. Shareholder Composition
P41
P42
P43
P44
P45
P46
P47
P48
P49
P50
P21
1
1-1. April 2012 ”K" Line Vision100 -Bridge to the Future　① Review of the Medium-Term Management Plan "K" LINE Vision 100
②Updated Missions for our Medium-term Management Plan
April 2008 “Ｋ”LINE Vision 100
This medium-term management plan was established against a backdrop of growing marine transport
demand resulting from global economic growth, focusing on the mid-2010s, while also extending its
outlook to encompass K" Line's centennial anniversary in 2019.
The theme of the plan was “synergy for all and sustainable growth.”
January 2010 “Ｋ”LINE Vision 100 KV2010
This plan was established as an emergency measure in response to the financial recession led by the
collapse of Lehman Brothers in September 2008, and the vastly different business environment it
produced.
April 2011 “Ｋ”LINE Vision100 - New Challenges -
In response to changes in market structures including energy demand increase, the rise of emerging
countries, etc. a new medium-term management plan based on the “K” LINE Vision 100 was adopted to
expand stable earning and achieve sustainable growth.
April 2012 “Ｋ”LINE Vision100 - Bridge to the Future -
Under such circumstances as supply pressure of new vessel capacity, fuel oil hike, further rise of
yen, damage by the Great East Japan Earthquake, etc. , in response to opaquie business
situation including market flactuation, by means of structural reform, we aim to increase stable
profit, and change into constitution strong enough not to be over affected by market flactuation.
③ Updated Target for Financial Indicies as of April 2012
Item
Unit
FY2011
As of April 2013
FY2012
FY2013
FY2014
Operating Revenues
(billion yen）
972
1,120
1,070
1,110
Ordinary Profit
Income
(billion yen）
▲ 49
12
39
60
Net Profit
Income
(billion yen）
▲ 41
11
25
42
EBITDA
(billion yen）
14
100
110
135
Shareholders' Equity
(billion yen）
243
260
280
330
Interest-bearing Debt
(billion yen）
593
580
540
490
Operating CF
(billion yen）
▲3
67
90
113
Investment CF
(billion yen）
▲ 83
▲ 50
▲ 50
▲ 50
DER
－
244%
223%
193%
148%
ROA
－
-5%
1%
4%
6%
Equity Ratio
－
23%
23%
26%
30%
-
4.3
Interest-bearing debt / Operating CF
Assumptions
(times)
8.7
6.0
79
80
80
80
（US$/MT）
672
720
650
650
Exchange rate
（\/US$）
Bunker Price
T/C Average
CAPE
（US$/Day）
15,350
18,750
23,000
25,000
PMAX
（US$/Day）
12,325
13,500
17,000
20,000
HMAX
（US$/Day）
13,225
13,500
15,000
18,000
Small
（US$/Day）
10,075
10,750
12,000
14,000
2
④　Trends of Business Performance (P/L)
⑥ Segment-wise Performance
as of April 2012
Bridge to the Future
Operating Revenues
Operating Income
Ordinary Income
Net Income
billion yen
1,400
④ Trends of Business Performance (P/L)
"K" Line Vision 2008+
"K" Line Vision 2008
KV2010
Unit
billion yen
KV-Plan
1,000
Target 10
K.R.Plan
100
80
600
Adjustment and
Eliminations
60
400
40
200
20
0
-200
-20
-40
-600
-60
-800
-80
460
Ordinary income or loss
（billion yen）
▲42
▲3
10
15
Operating revenues
（billion yen）
464
530
500
520
（billion yen）
▲9
12
26
42
Operating revenues
（billion yen）
113
130
110
130
（billion yen）
7
7
6
7
Operating revenues
（billion yen）
0
0
0
0
（billion yen）
▲5
▲4
▲3
▲4
Interest Bearing Debt
Equity Ratio(x10)
Operating revenues
（billion yen）
972
1,120
1,070
1,110
（billion yen）
▲49
12
39
60
Exchange rate
（\/US$）
79
80
80
80
Bunker Price
（US$/MT）
672
720
650
650
CAPE
（US$/Day）
15,350
18,750
23,000
25,000
PMAX
（US$/Day）
12,325
13,500
17,000
20,000
HMAX
（US$/Day）
13,225
13,500
15,000
18,000
Small
（US$/Day）
10,075
10,750
12,000
14,000
as of April 2013 （after reformation)※
Unit
Shareholders' Equity
DER
Containership
Equity Ratio indicated ｘ10↓
700
700%
600
600%
Bulk Shipping
Offshore Energy
E&P Support &
Heavy Lifter
500%
above 40%
400%
500
400
300
300%
200
200%
100
100%
Other
Adjustments &
Eliminations
Total
0%
below 95%
0
Assumptions
(Fiscal Year) '92
Exchange Rate (Yen/US$)
Fuel Price (US$/MT)
'93
125 108
99
83
'94
99
'95
'96
'97
'98
'99
'00
'01
'02
'03
'04
'05
'06
'07
'08
96 113 123 128 112 110 125 122 114 107 113 117 115 101
99 108 118 104
'09
93
'10
86
460
⑤ Improvement in Financial Position
billion yen
FY2014
460
T/C Average
Assumptions
-400
FY2013
396
Total
0
FY2012
（billion yen）
Others
New K-21
K.R.PhaseⅡ
Non-Container
Ships
120
FY2011
Operating revenues
Container Ships
140
"K" LINE Vision 100
1,200
800
New Challenges
'11
79
'12
82
FY2011
FY2013 e
FY2012
FY2014 (plan)
Operating Revenues
（bln.yen)
468.0
552.8
580.0
Ordinary Income
（bln.yen)
▲ 38.5
6.6
8.0
15.0
Operating Revenues
（bln.yen)
443.1
502.6
500.0
520.0
42.0
Ordinary Income
（bln.yen)
▲ 0.1
24.1
22.0
Operating Revenues
（bln.yen)
20.4
35.7
40.0
460.0
Ordinary Income
（bln.yen)
▲ 8.5
▲ 2.4
▲ 1.0
Operating Revenues
（bln.yen)
40.8
43.7
40.0
130.0
Ordinary Income
（bln.yen)
3.3
6.6
2.0
7.0
Operating Revenues
（bln.yen)
-
-
-
0.0
Ordinary Income
（bln.yen)
▲ 5.2
▲ 6.3
▲ 6.0
▲ 4.0
Operating Revenues
（bln.yen)
972.3
1,134.8
1,160.0
1,110.0
Ordinary Income
（bln.yen)
▲ 49.0
28.6
25.0
60.0
Exchange Rate
Bunker Price
T/C Average
CAPE
PMAX
HMAX
Small
(\/US$)
(US$/MT)
79
672
82
671
95
620
80
650
(US$/Day)
(US$/Day)
(US$/Day)
(US$/Day)
15,350
12,325
13,225
10,075
7,350
7,575
9,250
7,800
12,000
8,500
9,500
8,000
25,000
20,000
18,000
14,000
※from FY2012, segmentation was reformed
76 117 158 134 161 170 192 286 319 407 504 407 489 672 671
3
1-1. April 2012 "K"Line Vision 100 - Bridge to the Future
⑦ 【Fleet Upgrading Plan and Investment 】
⑨　New Buildings (Results and Plan) (as of July 2013)
In Mid-term Management Plan (as of April 2012)
as of April 2012
Nbr of
Nbr of
Fleet Size Development
as of July 2013
(unit: vessels)
FY2011 Vessels at FY2012 FY2013 FY2014 FY2012-FY2014 Vessels at
end of
Deliveries end of Deliveries Deliveries Deliveries
Deliveries
Container Ship Business
6
80
4
0
0
4
66
Dry Bulk Carrier Business
34
236
23
25
11
59
279
Car Carrier Business
6
97
2
0
0
2
93
Energy Transportation Business
5
77
1
1
1
3
77
Heavy Lifer / Others
1
68
3
0
0
3
69
Total
52
558
33
26
12
71
584
（Showing vessels whose investment is decided only）
Only the number of newbuildings is indicated in this table.
(vessels returned or sold etc. is not reflected)
500
Total 584
Total 558
Heavy
Lifter/Coastal
/Ferry/Other 69
Energy Resource
77
Heavy
Lifter/Coastal
/Ferry/Other 68
Energy Resource
77
400
PCTC 93
PCTC 97
300
200
Dry Bulk
Carrier 279
Dry Bulk
Carrier 236
100
Container 80
Container 66
March 12
March 14
0
⑧　Investment CF (billion yen)
FY2011
Original Plan (Apr.'12)
83.2
Updated (Apr.'13)
83.2
95.0
Previous Plan (Apr.'11)
FY2005
FY2006
FY2007
FY2008
FY2009
FY2010
FY2011
FY2012
FY2013 FY2014 FY2015 FY2016
Plan
Plan
Plan
Plan
FY2014
FY2011
600
FY2004
FY2012
50.0
27.2
80.0
FY2013
50.0
50.0
65.0
FY2014
50.0
50.0
-
Ｃontainerships
1,700TEU
2,400TEU
3,500TEU
4,500TEU
6,400TEU
8,000TEU
Dry Bulk
Capesize
Panamax
Handymax
SmallHandy
Chip/Pulp
Corona
Car Carriers
2,000units
3,800units
4,000units
5,000units
6,000units
LNG
Tankers
VLCC
AFRAMAX
LRⅡ
LPG
CHEMICAL
Energy New Biz
Offshore
Drillship
Heavy Lifters
Short Sea etc.
Total
5
5
3
2
3
2
3
0
0
18
5
0
0
3
2
0
0
19
8
3
5
1
0
2
8
2
0
1
3
2
4
1
0
1
0
6
0
0
0
3
0
3
22
9
4
4
2
1
2
8
2
2
2
1
1
2
4
1
1
2
4
3
0
0
0
0
1
10
2
4
2
1
0
1
5
0
1
0
0
4
2
3
1
0
0
6
3
1
0
0
0
2
16
6
0
2
4
3
1
4
0
0
0
0
4
14
4
0
2
1
13
4
3
4
0
0
2
20
9
6
1
2
0
2
8
1
1
0
3
3
1
4
3
0
1
0
0
2
1
0
0
0
1
38
0
5
47
1
2
27
3
2
49
0
0
46
11
0
1
0
7
3
0
16
8
3
4
0
0
1
7
1
0
2
0
4
0
0
0
0
0
0
0
3
3
0
2
1
40
6
0
0
0
5
0
1
34
18
4
7
3
0
2
6
0
0
1
0
5
0
1
0
0
0
0
1
4
3
1
0
1
52
4
0
0
0
0
0
4
25
14
1
5
3
1
1
4
0
0
1
2
1
0
1
0
0
0
0
1
0
0
0
0
3
37
0
0
0
0
0
0
0
23
4
8
5
2
0
4
4
0
0
0
0
4
0
1
0
0
0
0
1
0
0
0
0
1
29
1
0
0
0
0
0
1
10
2
6
1
0
0
1
0
0
0
0
0
0
0
1
0
0
0
1
0
0
0
0
0
1
13
4
0
0
0
0
0
4
8
1
3
0
2
0
2
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
13
0
0
0
0
0
0
0
1
0
0
0
0
0
1
0
0
0
0
0
0
2
0
0
0
0
0
0
0
0
0
0
0
3
4
1-2. Trends of Financial Indices in Recent Years
billion yen
100
① Net Income and Dividend per Share
yen/share
150
Net Income
Net Income per Share
Dividend per Share
80
60
90
0 0
0
4
5 3 5 10
16.5
18 18
26
60
0 0
13.5 9.5 2.5 30
3 3
0
0
0
0
92F 93F 94F 95F 96F 97F 98F 99F 00F 01F 02F 03F 04F 05F 06F 07F 08F 09F 10F 11F 12F
▲ 20
▲ 30
▲ 40
▲ 60
▲ 60
▲ 90
▲ 80
▲ 120
billion yen
1400
③ Consolidated Assets Turnover
Operating Revenues
Assets Turnover
1200
1000
1.6
ROE
ROA
80
20%
40
10%
0
92F93F94F95F96F97F98F99F00F01F02F03F04F05F06F07F08F09F10F11F12F
0.8
600
▲ 20%
▲ 80
▲ 30%
billion yen
200
④ Consolidated EV, EBITDA
EBITDA
150
EV/EBITDA
0.4
200
0.2
0.0
0
20
0
140
Net Income
120
100
Operating Cash Flow
80
60
40
20
0
▲ 20 92F 93F 94F 95F 96F 97F 98F 99F 00F 01F 02F 03F 04F 05F 06F 07F 08F 09F 10F 11F 12F
▲ 40
▲ 60
▲ 80
billion yen
140
⑥ Consolidated Interest Coverage Ratio
Operating Income
90
0
▲ 20
▲ 50
⑤ Operating Cash Flow
80
40
50
billion yen
100
60
100
0.6
400
0%
▲ 10%
▲ 40
1.0
800
40%
30%
1.4
1.2
② Consolidated ROE, ROA
Net Income
120
40
20
billion yen
120
Interest Coverage Ratio
35
30
25
20
15
40
10
5
0
▲ 10 92F93F94F95F96F97F98F99F00F01F02F03F04F05F06F07F08F09F10F11F12F
▲5
▲ 10
▲ 60
▲ 15
5
1-3. History of Management Plans
Nov.1982
Aug.1983
Mar.1984
Apr.1984
Plan name
Emergency Plan for Strengthening
the Corporate Foundation
("K" Plan) First Stage
Emergency Plan for Strengthening
the Corporate Foundation
("K" Plan) Second Stage
Intermediate-term Operational
Improvement Plan
(A part of this plan was named
New "K" Plan.)
Subjects
1st theme: profitability improvement plan
2nd theme: efforts to modernize and increase the efficiency of operational systems
3rd theme: a cost-cutting campaign carried out with the participation of all personnel
Reconstruction of system to implement "K"plan, mainly for above 2nd theme
Promotion of office automation、Improvement in business procedure, Cost reduction etc
Remarks
Radical improvement in operational structure was targetted,
feared continued simultaneous slump in three sales division and yen rising.
(Reference-in June 1983, the Head Office was relocated to current location )
<Hibiya Central Building>
1) Emergency Measures (disposal of uneconomical ships, establishment land-based and marine personnel plan.)
Aimed to establish the capability to resume dividend payment.
2) Reinforcement of operational capabilities (development of an internationally competitive fleet,
Enhancement of cost control, Promotion of new business）
(However, Plaza Accord in 1985 drastically rose yen to 150 yen per one U.S. dollar,
3) Augmentaton of financial measures
and the U.S. Shipping Act of 1984 made container freight fall significantly.
4) Modernization and increasing the efficiency of operational organization (streamlining of land-based
Our losses were expanded.)
operations, reorganization and utilization of an information systems)
Mar.1987
5)Promotion of safe vessel navigation and cost reduction
Apr.1987 Emergency Ratiolization Plan
1) Disposal of uneconomical ships
2) Make the organization more efficient and streamlined. (inc. spinning off our subsidiaries)
3) Slashing of both of land and sea workforth with intoroduction of a special retirement policy.
Almost all targets completed on schedule.
<"Emergenvy Employment Measures"（agreed with All Japan Seamen's Union）
4) Improvement and reinforcement of operational capabilities
=>Once Operating Income moved into the black F88.
5) Measures against stronger yen
Mar.1989
6) Implemantation of measures for cost reduction.
While we did not have specific management plan during this period, there was a campaign for imporoving customer satisfaction （named 'One for All, All for One', April 1990 - March 1994), and
"Project 20・20", an internal campaign in Containership division around 1991 (targeting at total USD 40 min. profit rise through revenue up by 20 mil. and cost down by 20 mil.) , etc.
Dec.1992 Target-10
- Reexamining costs and expenses from every angle
- Around Oct.1993
Oct.1993 "K"Line Reengineering Program
- Strenghtening international competitiveness through cost-saving and shift as many jobs as possible to overseas
(K.R. Program)
- Establishment of structrure to respond customers' needs and to ensure stable profit even if faced with
Mar.1996
exchangerate rate 100 yen per one U.S. dollar,.
Apr.1996 K.R.PhaseⅡ
- Realization of the situation to implement continual payment of dividends
Unfinished targets in K.R. Program. From non-consolidation to consolidation. Aiming for competetiveness matching
- Reconstruction of operation on a consolidated basis by the entire "K"Line group
shipping companies in developing Asia. =>In F97 dividend paid after 15 year absense
Mar.1998
Apr.1998 New"K"Line Spirit for 21(New K-21) - Standing firm in our basic policy of pursuit of profitability while trying to expand scale of business, and
Aiming to make containership division move into the black, which was not achieved in K.R.PhaseII.
*In '00, raised the numerical targets
continuing stable payment of dividends
Positive management plan for the first time in many years.
*Completed a year ahead of
- To expand shipping-based logistics business globally with customer-oriented attitude, and to aim at a corporate
=>Most targets achieved, though 9.11changed conditions at all.
Mar.2002 schedule as most targets achieved
group which is soild, and fully commited to challenge with courage.
Apr.2002 KV-Plan
1. Further enhancing of Company’s overall organization through cost reductions and profitable use of IT, etc.
Reconstruction of containership business-"Cost Slash 300"
2. Reinforcement of globalization firmly based on regional communities and pursuit of business synergy among business sectors. （Total 30 bln. yen cost reduction plan: 15 bln. is from deployment of larger ships）
3. Initiate stronger efforts to implement logistics business.
In F03 (ends Mar. '04) most of final targets inc. numerical ones were atatined a year ahead of schedule.
4. Persuit of technical innovations in marine transport, perfection of safety in navigation and cargo operations,
=>"K"Line Vision 2008
*Completed a year ahead of
and further contribution to environmental preservation.
Mar.2004 schedule as most targets achieved
5. Strengthening of corporate governance aiming at more transparency and greater effectiveness in management.
Apr.2004 "K"LINE Vision 2008
1.Ensuring a stable profitability structure through reinforcing our business base
Set a vision for F08, to regard the period from now to F09, our 90th anniversary, as a runway.
2.Creation of a high-level, refined and more matured culture of the "K" Line Group with materialization of
As profit targets, set F04, 05 estimation & F08 vision
-Sustainable Growth and Establishment of a Stable Profitability Structuredreams and upgrading of the "K" Line Brand
Fulfilled most final numerical goals in F05/fuel price hike=>2008+
Mar.2006 （Completed as most targets achieved) 3.Reinforcement of corporate governance and response to risk management
+
Apr.2006 "K"LINE　Vision 2008
-Measures to support systematic expansion of business scale (new target)
F06 targets NOT achieved due to container freight drop
-Sustainable Growth and Establish- Response to changes in business enviroments (new target)
F07 resuts exceeded most targets for F08 in the plan due to dry bulk market hike and
ment of a Stable Profitability Structurecontainership freigt restoration, & conditions change => "K"Line Vision 100
Mar.2008 （Completed as most targets achieved)
Apr.2008 "K"Line Vision 100
1. Activities to promote environmental protection　Themes: Synergy for All
2. Stable safety ship operation administration structure
The plan based on what we will be like in 2019 when we celebrate our 100th anniversary.
3. Borderless management through the best and strongest organization
Mar.2012
and Sustainable Growth
+
4. Strategic investment and proper allocation of management resources
Detailed targets are set for 4years fom 2008F to 2011F
5. Improvement of corporate value and complete risk management
Image for 2019
(In addition to above 5 basic themes, new 3 missions as follows)
Jan.2010 "K"Line Vision 100 KV2010
○Basic Strategies
1. FY2010:move into the black and early resumption of dividends
Themes: Synergy for All
1. Strengthening make up of containership business
Mar.2013 + and Sustainable Growth(Continue) 2. Expansion of stable earnings base and sustainable growth
2. Restructuring business portfolio
Mid of 2010's
3. Improvement and strengthening of financial make up
3. Adaptation to business environment fluctuations and strengthening of financial base
(In addition to above 5 basic themes in the KV 100)
Apr. 2011 "K"Line Vision 100 KV2010
Financial results in FY 2010 exceeded initial plans. However, there may be effects from the recent earthquake
-New Challenges 1. Expansion of a stable earnings base and sustainable growth
and there are still many uncertain elements. In response to changes in market structures including energy supply
Mar.2014+
2. Strategic investment in response to changes in market structures and increase in demand
and demand and the emergence of developing countries, a new medium-term management plan based on the
- Investment in creation of a flexible fleet and in new businesses
“K” LINE Vision 100 was adopted to expand stable earning and achieve sustainable growth.
Mid of 2010's
- Ongoing measures for improvement and strengthening of financial makeup
Apr. 2012 "K"Line Vision 100 KV2010
(In addition to above 5 basic themes in the KV 100)
For FY 2011, the containership and dry bulk markets have deteriorated markedly, and the Great East Japan Earthquake, the yen
Bridge to the Future
appreciation, and rising fuel oil prices resulted in the Company reporting a net loss. In response to these developments, the
1. Generate ordinary income in FY2012
Mar.2015+
"K" Line Group adopted a newly reformed medium-term management plan with three priority tasks. By means of structural
2. Build a stable earnings structure
Mid of 2010's
reform, we aim to increase stable profit, and change into constitution strong enough not to be over affected by market flactuation.
3. Reinforce financial standing
6
1-4. Effort for Structural Reform and Business Scale Expansion
① No. of Japanese Seafarer/"K"Line Employee
(No. of Consolidated Group Employee, Non-Consolidated Employee）
8,000
7,000
（Japanese Seafarer （Hundred）/Exchange Rate)
800
Consolidated Group Employee
Japanese Seafarer for Overseas Shipping
(Non-Consolidated) Employee on Sea
Exchange Rate (\/$)
(Non-Consolidated) Employee on Land
700
6,000
600
5,000
500
4,000
400
3,000
300
2,000
200
1,000
100
0
0
（Operating Revenues （Bln. Yen）/Operating Fleet (No. of Vessels, 100,000 Tons))
1,300
1,100
(Non-Consol) Operating Revenues
(Consol) Ordinary Income
(Consol) No. of Operating Vessels
② Our Fleet-Scale, Operating Revenues, Ordinary Income
(Consol) Operating Revenues
(Non-Consol) Operating Fleet (Tons)
(Consol) Operating Fleet (Tons)
(Non-Consol) Ordinary Income
(Non-Consol) No. of Operating Vessels
（Ordinary Income（Bln. Yen））
130
110
900
90
700
70
500
50
300
30
100
10
(100)
▲ 10
(300)
▲ 30
(500)
▲ 50
(700)
▲ 70
7
1-5. Current Business Composition
①　Operating Revenues, Ordinary Income　<Division-wise/Segment-wise>
segement change
Business Division
FY2005 FY2006 FY2007 FY2008 FY2009 FY2009
Containership Operating Revenues
451.4
503.5
599.8
530.1
364.0
358.5
Business
Ordinary Income
30.5
▲ 7.8
4.7
▲ 37.3
▲ 67.0
▲ 65.6
468.4
66.0
Bulk Shipping Operating Revenues
Business
Ordinary Income
Offshore Energy
Operating Revenues
E&P Support &
Ordinary Income
Heavy Lifter
Operating Revenues
Ordinary Income
Others
Adjustment
Total
※
※
※
※
Operating Revenues
Ordinary Income
Operating Revenues
Ordinary Income
489.4
58.1
940.8
88.6
113.6
5.7
1,085.5
63.9
615.8
115.3
115.4
5.9
1,331.0
125.9
609.1
92.9
105.2
4.4
1,244.3
60.0
394.8
▲ 2.9
393.1
1.1
segement change
FY2010
445.0
29.0
FY2011
395.5
▲ 41.8
447.1
17.0
463.5
▲ 8.6
（unit: billion yen）
FY2011
FY2012
463.0
552.8
▲ 39.7
6.6
443.1
▲ 0.0
20.4
▲ 8.6
502.6
24.1
35.7
▲ 2.4
79.3
3.7
86.4
2.3
93.0
4.7
113.3
6.6
45.8
4.1
43.7
6.6
838.0
▲ 66.3
－
▲ 4.1
838.0
▲ 66.3
－
▲ 3.4
985.1
47.4
－
▲ 5.2
972.3
▲ 49.0
－
▲ 4.7
972.3
▲ 49.0
－
▲ 6.3
1,134.8
28.6
For FY2005, we had disclosed our total results in two 'division's: Containership Business and Others
～FY 2009, we disclosed in three divisions: 'Containership Business' 'Other Marine Business' and 'Others'
'Bulk Shipping Business' in new categories introduced from FY2010 is almost same as 'Other Marine Business' in the previous categories
From FY2012, 'Offshore Energy E & P Support & Heavy Lifter' division is carved out from the former 'Bulk Shipping Businesss 'division, and
logistics business included in the 'Others' is transfered to 'Containership Business'.
Marine
Transportation
Logistics/Harbour Other
Transportation
Containership Business
Bulk Shipping Business
Offshore Energy
E&P Support &
Heavy Lifter
※New Segment （Starting from FY 12 1Q disclosure)
Containership Business: containership , port , logistics businesses
Bulk Shipping Business: dry bulk, PCC, LNG, oil tanker, coastal &
ferry (operated by Kawasaki Kinkai Kisen) businesses
Offshore Energy E&P Support & Heavy Lifter: marine energy resorce
development, offshore support, heavy lifter businesses
Others: ship management, inter-group businesses, etc.
Adjustment (no change): ship management business, administration
costs not to be distributed to each segement, etc.
【FY2012 Consolidated Operating Revenues】
② Fleet Composition and Division/Segment-wise Revenues
1,200
Offshore Energy
E&P Support &
Heavy Lifter
1,000
Fleet Composition
800
Total 1134.8 bln. yen
Others
Offshore
Energy
E&P
Support
& Heavy
Lifter,
35.7
Bulk
Shipping
Business
, 502.6
Bulk Shipping 600
Business
400
200
Containe
rship
Business
, 552.8
Containership
Business
0
8
2. Comparison to Major Shipping Companies <2-1. Fleet-scale Ranking>
①　Major Container Carriers
1,000 (TEU)
0
500
APM-Maersk
MSC (Mediterranean Shg C)
CMA CGM Group
Evergreen Line
COSCO Container L.
Hapag-Lloyd
APL
Hanjin Shipping
CSCL
MOL
OOCL
Hamburg Süd Group
NYK Line
Yang Ming Marine Transport Corp.
PIL (Pacific Int. Line)
K Line
Hyundai M.M.
Zim
1,000
1,500
2,000
2,500
3,000
Operating
3,500
Orderbook
Alliance-wise Operating and Newbuilding Delivery
1,000(TEU)
APM-Maersk
MSC (Mediterranean…
CKYH Green
GA
TNWA
CMA CGM Group
Evergreen Line
Operating
On Order
1,000
2,000
3,000
② Containership Asia-N.America Loading Volume Top 15 Carriers
(Year 2012）
Maersk
Evergreen
Hanjin
APL(NOL)
MSC
CMA-CGM
COSCO
Hyundai M.M
K-Line
Yang Ming
China Shipping
OOCL
NYK
MOL
Hapag-Lloyd
Top 18 Container Carriers Ranked by Operating Capacity （TEU)
Rank*
Operator
Operating
Orderbook
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
(1)
(2)
(3)
(5)
(4)
(6)
(9)
(8)
(7)
(10)
(11)
(13)
(12)
(16)
(15)
(17)
17 (14)
18 (18)
APM-Maersk
2,615,937
2,340,801
CMA CGM Group
1,494,347
Evergreen Line
818,417
COSCO Container L.
767,735
Hapag-Lloyd
702,210
APL
626,861
Hanjin Shipping
623,594
CSCL
601,753
MOL
539,426
OOCL
457,677
Hamburg Süd Group
453,659
NYK Line
433,503
Yang Ming Marine Transport C
382,489
370,871
K Line
353,448
Hyundai M.M.
333,900
Zim
330,043
372,281
177,534
92,890
300,273
97,328
52,676
124,800
89,000
176,738
104,600
88,384
165,458
26,416
111,250
68,512
69,350
65,500
85,408
Rank
1 (1)
2 (2)
3 (3)
4 (4)
5 (5)
6 (6)
7 (7)
Operating
Alliance
APM-Maersk
2,615,937
2,340,801
CKYH Green
2,127,266
GA
1,593,390
TNWA
1,500,187
CMA CGM Group
1,494,347
Evergreen Line
818,417
On Order
372,281
177,534
366,928
167,476
294,900
92,890
300,273
*( ) is ranking for previous year
Source : http://www.alphaliner.com/top100/index.php　as of June 2013
0
Total
2,988,218
2,518,335
1,587,237
1,118,690
865,063
754,886
751,661
712,594
778,491
644,026
546,061
619,117
459,919
493,739
439,383
422,798
399,400
415,451
Prev. Total
3,040,603
2,508,819
1,416,459
1,115,668
887,703
774,291
854,453
759,216
687,701
594,415
562,193
590,305
454,619
425,450
367,437
370,589
447,560
476,439
Total
Prev. Total
3,040,603
2,988,218
2,508,819
2,518,335
2,442,958
2,494,194
1,791,103
1,760,866
1,896,428
1,795,087
1,416,459
1,587,237
1,115,668
1,118,690
300
600
900
1,000TEU
1,200
1,500
YoY
▲ 1.7%
0.4%
12.1%
0.3%
▲ 2.6%
▲ 2.5%
▲ 12.0%
▲ 6.1%
13.2%
8.3%
▲ 2.9%
4.9%
1.2%
16.1%
19.6%
14.1%
▲ 10.8%
▲ 12.8%
YoY
▲ 1.7%
0.4%
2.1%
▲ 1.7%
▲ 5.3%
12.1%
0.3%
Rank *
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
(1)
(2)
(4)
(3)
(5)
(6)
(8)
(7)
(10)
(9)
(12)
(11)
(13)
(14)
(15)
Rank
1 (1)
2 (2)
3 (3)
4 (4)
5 (5)
Operator
Maersk
Evergreen
Hanjin
APL(NOL)
MSC
CMA-CGM
COSCO
Hyundai M.M
K-Line
Yang　Ming
China Shipping
OOCL
NYK
MOL
Hapag-Lloyd
Alliance
CKYH （inc. "K"Line）
TNW
GA　Maersk
Evergreen
Cargo
Loaded
（Unit:1,000TEU)
1,455
1,228
1,058
1,038
898
863
819
769
732
691
642
615
568
545
527
Cargo
3,299
2,352
1,709
1,455
1,228
*( ) is ranking for previous year
Source: Japan Maritime Center (as of June 2013）
9
2. Comparison to Major Shipping Companies <2-1. Fleet-scale Ranking>
③　Historical Top 20 Container Carriers Ranked by Operating Full Containership Capacity (From 1983, biyearly)
Rank '83
1 HAPAG
2 SEA-LAND
3 MAERSK
4 OCL
5 NYK
6 OOCL
7 APL
8 NEDLLOYD
9 EVERGREEN
10 UASC
11 MOL
12 USL
13 YANGMING
14 CGM
15 ZIM
16 "K"LINE
17 BALTIC
18 W.WILHELMSEN
19 NOL
20 COSCO
(Area-wise Number of
U.S.A
3
Europe
7
Japan
3
Asia*
5
Others
2
'85
'87
'89
'91
'93
'95
'97
'99
'01
'03
'05
'07
'09
'11
'13
EVERGREEN
USL
MAERSK
SEA-LAND
HAPAG
OCL
NYK
OOCL
"K"LINE
APL
MOL
COSCO
NEDLLOYD
UASC
CGM
ZIM
YANGMING
W.WILHELMSEN
BALTIC
NOL
EVERGREEN
MAERSK
NYK
APL
YANGMING
SEA-LAND
HAPAG
OOCL
P&OCL
"K"LINE
MOL
COSCO
NEDLLOYD
ZIM
HANJIN
CGM
UASC
NOL
BSC
W.WILHELMSEN
EVERGREEN
MAERSK
SEA-LAND
APL
NYK
COSCO
OOCL
HAPAG
"K"LINE
YANGMING
HANJIN
MOL
P&OCL
NEDLLOYD
ZIM
NOL
CGM
UASC
W.WILHELMSEN
BSC
EVERGREEN
MAERSK
SEA-LAND
NYK
COSCO
APL
MOL
OOCL
HAPAG
HANJIN
"K"LINE
YANGMING
P&OCL
NOL
ZIM
SCANDUTCH
UASC
NEDLLOYD
CHO YANG
CGM
MAERSK
EVERGREEN
SEA-LAND
NYK
COSCO
P&OCL
HANJIN
"K"LINE
NEDLLOYD
HAPAG
APL
YANGMING
MOL
NOL
OOCL
ZIM
HYUNDAI
UASC
CGM
CHO YANG
MAERSK
SEA-LAND
EVERGREEN
COSCO
NYK
P&OCL
NEDLLOYD
HANJIN
MOL
APL
HAPAG
DSR-SENATOR
"K"LINE
OOCL
YANGMING
NOL
HMM
ZIM
CMA
MSC
MAERSK
SEA-LAND
P&ON
EVERGREEN
COSCO
HANJIN
NOL/APL
MSC
NYK
HMM
MOL
ZIM
YMTC
OOCL
"K"LINE
HL
DSR-SENATOR
CMA
WAN HAI
CONTSIP
MAERSK/SL
EVERGREEN
P&ON
HANJIN/SEN
MSC
COSCO
NOL(APL)
NYK/TSK
CMA/CGM
CP
ZIM
MOL
"K"LINE
HMM
OOCL
YMTC
HL
UASC
CSAV
CHO YANG
MAERSK
P&ON
EVERGREEN
HANJIN
MSC
APL(NOL)
COSCO
CP SHIPS
NYK
CMA CGM
MOL
OOCL
"K"LINE
ZIM
HL
HMM
UASC
YANGMING
CSCL
H-SUD
MAERSK
MSC
P&O/FARREL
EVERGREEN
HANJIN/SEN
COSCO
APL(NOL)
CMA CGM/ANL
"K"LINE
NYK
CP SHIPS
MOL
ZIM
OOCL
HAPAG
YANGMING
CSCL
HMM
H-SUD
CSAV
MAERSK
MSC
EVERGREEN
CMA CGM/ANL
HAPAG
HANJIN/SEN
COSCO
CSCL
APL(NOL)
NYK
MOL
OOCL
CSAV
"K"LINE
ZIM
YANGMING
H-SUD
HMM
PIL
WAN HAI LINES
MAERSK
MSC
CMA CGM
EVERGREEN
HAPAG
CSCL
COSCO
NYK
APL(NOL)
HANJIN
OOCL
"K"LINE
MOL
ZIM
YANGMING
CSAV
H-SUD
HMM
PIL
WAN HAI LINES
MAERSK
MSC
CMA CGM
COSCO
APL
HANJIN
EVERGREEN
HAPAG
CSCL
NYK
ZIM
"K"LINE
MOL
OOCL
YANGMING
H-SUD
CSAV
HMM
PIL
UASC
MAERSK
MSC
CMA CGM
COSCO
HAPAG
EVERGREEN
APL
CSAV
HANJIN
CSCL
MOL
OOCL
NYK
H-SUD
YANGMING
ZIM
"K"LINE
HMM
PIL
UASC
MAERSK
MSC
CMA CGM
EVERGREEN
COSCO
HAPAG
APL
HANJIN
CSCL
MOL
OOCL
H-SUD
NYK
YANGMING
PIL
"K"LINE
HMM
ZIM
UASC
CSAV
Companies)
'84 US Shipping Act
1984
3
7
3
5
2
2
7
3
6
2
'86 US Line busted
'86 HANJIN ranked in
'86 'Emergency Employment
Measure'
*Excluding Japan
2
7
3
6
2
2
6
3
7
2
'88 Showa Line withdrew'91 NYK acquired NLS***
（Japanese 4=>3）
'88 NLS established
（Japanese 6=>4）
'88 'Kaizoshin** Asia-N.America
route WG's report issued
2
5
3
8
2
'92 HYUNDAI ranked in
1. Top 20 as of '83: U.S.A.: 3, Europe: 7, Japan: 3 , Asia (other than Japan) : 5, Others 2
'07:U.S.A.: 0, Europe: 5, Japan: 3, Asia (other than Japan): 10, Others: 2
U.S. carriers went away, and Asian shipping companies increased
In '09, due to global economic crisis, larger movements among middle-ranking companies.
2. The number of European operators reduced, but through M&As after '95, business scale of each was enlarged.
3. No. of Japanese Containership Operators:
until '87 6
'88 4
'91 3
*** Joint Venture for containership business spun out of 'Yamashita Shinnihon' and 'Japan Line'.
Trade Share Breakdown by Carrier/Alliance (Data:Alphaliner)
FE-Europe Capacity Share
by Carrier/Alliance
FE-North America Capacity
Share by Carrier/Alliance
2
7
3
7
1
1
6
3
9
1
'96 'CKYH' alliance formed
'96 P&O and Nedlloyd
merged
'97 NOL acquired APL
'97 HANJIN acquired
majority
0
5
3
8
4
0
6
3
8
3
'99 MAERSK acquired'00 China Shipping ranked in
SEALAND
（Americans went away)
0
6
3
8
2
0
5
3
10
2
0
5
3
10
2
'04 MAERSK acquired P&ON
'05 HAPAG acquired CP SHIPS
0
5
3
9
3
0
5
3
9
3
0
5
3
9
3
'11 Restructuring and consolidation of Alliance
GA+TNWA⇒G６
MSC＋CMA-CGM
CKYH+EVERGREEN
4. Time-series Major Events
'84 U.S. Shipping Act 1984 effective
'85 Plaza Accord
'86 US Line busted. (No. of American carriers : 3=>2)
'Emergency Employment Measure' introduced
'88 Kaizoshin** Asia-N.America route Working Group's report issued
Showa Line withdrew, and NLＳ established
(No. of Japanese carriers: 6=>4)
'91 NYK acquired NLS*** (No. of Japanese carriers: 4=>3)
'96 P&O and NEDLLOYD merged. 'P&O NEDLLOYD' (P&ON) formed.
'97 NOL acquired APL (No. of American carriers : 2=>1)
'99 MEARSK acquired SEALAND (American carriers disappeared)
'04 MAERSK acquired P&O N
'05 Hapag Lloyd acquired CP Ship
'08 World Economic Crisis ('Lehman Shock' in September)
** Council for Rationalization of Shipping and Shipbuilding Industries
Data: Containerisation International Yearbook etc.
10
④ Transition of Alliance for Containership Business
1996
1997
1998
1999
2000
2001
2002
2004
2009
2010
Maersk
Sea-Land
Maersk
Sea-Land
Maersk
Sea-Land
Maersk-SL
Maersk-SL
Maersk-SL
Maersk-SL
Maersk-SL
Maersk(P&ONL) Maersk
Maersk
Maersk
Maersk
Maersk
CMA
CMA
CMA
Norasia
CMA
Norasia
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
CMA-CGM
MSC
Norasia
HMM
MSC
Norasia
MSC
MSC
MSC
MSC
MSC
MSC
MSC
MSC
MSC
MSC
MSC
MSC
COSCO
K-Line
Yangming
COSCO
K-Line
Yangming
COSCO
K-Line
Yangming
COSCO
K-Line
Yangming
COSCO
K-Line
Yangming
COSCO
K-Line
Yangming
Hanjin-Senator
COSCO
K-Line
Yangming
Hanjin-Senator
COSCO
K-Line
Yangming
Hanjin-Senator
COSCO
K-Line
Yangming
Hanjin-Senator
COSCO
K-Line
Yangming
Hanjin
COSCO
K-Line
Yangming
Hanjin
COSCO
K-Line
Yangming
Hanjin
COSCO
K-Line
Yangming
Hanjin
Evergreen
LT
Evergreen
LT
Evergreen/LT
Evergreen/LT
Evergreen/LT
Evergreen/LT
Evergreen/LT
Evergreen/LT
Evergreen/IM
Evergreen
Evergreen
Evergreen
Evergreen
CSCL
CSCL
CSCL
CSCL
CSCL
CSCL
CSCL
CSCL
CSCL
CSCL
NYK
Hapag-Lloyd
P&ONL
OOCL
MISC
NYK
Hapag-Lloyd
P&ONL
OOCL
MISC
NYK
Hapag-Lloyd
P&ONL
OOCL
MISC
NYK
Hapag-Lloyd
P&ONL
OOCL
MISC
(2003)
2005
2006 (2007-8)
2011 (2012)
HMM
COSCO
K-Line
Yangming
Evergreen
LT
NYK
Hapag-Lloyd
NOL
P&O
2014
ＣＫＹＨ
NYK
Hapag-Lloyd
NOL
P&ONL
NYK
Hapag-Lloyd
P&ONL
OOCL
MISC
NYK
Hapag-Lloyd
P&ONL
OOCL
MISC
CP Ships(Cast） CP Ships(Lykes,CCP Ships(Ivaran, CP Ships
CP Ships (TMM,OC CP Ships
CP Ships (Italia Line CP Ships
MOL
APL
Nedlloyd
OOCL
MISC
MOL
APL
(P&ONL)
OOCL
MISC
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
CSAV
CSAV
CSAV
CSAV
CSAV（Norasia) CSAV（Norasia) CSAV（Norasia)
DSR-Senator
Hanjin
Choyang
DSR-Senator
Hanjin
Choyang
UASC
Hanjin-Senator Hanjin-Senator Hanjin-Senator Hanjin-Senator
Choyang
Choyang
Choyang
UASC
UASC
UASC
UASC
UASC
Choyang
bankruptcy
UASC
2013
Base leading to
present alliances
formed;
Nedloyd⇒P&O,
NOL⇒APL,
HJ⇒DSR-Snator
Maersk⇒Sealand,
CMA⇒CGM,
EMC⇒Lloyd
Triestino,
-a series of M&A
MOL
APL(NOL)
HMM
Existing alliances
stabilized, new
players emerging,
CSAV=>Norasia
(merged)
Allian c e CKYH
CKYH Green
Carrie r
MISC
MISC
NYK
Hapag-Lloyd(CP S Hapag-Lloyd
OOCL
OOCL
MISC
MISC
NYK
Hapag-Lloyd
OOCL
MISC
NYK
Hapag-Lloyd
OOCL
NYK
Hapag-Lloyd
OOCL
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
NYK
NYK
Hapag-Lloyd
OOCL
Grand Alliance
The New World Alliance
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
MOL
APL(NOL)
HMM
CSAV（Norasia)
UASC
UASC
UASC
UASC
Maersk ⇒
P&O Nedlloyd
acquired
Start-up new
alliance （CKY＋
Hanjin)
GA
TNWA
Grand Alliance
The New World Alliance
COSCO
NYK
MOL
" K" Lin e Hapag Lloyd APL(NOL)
Yan gmin g OOCL
Hyunday
Han jin
G6
GA
+
TNWA
UASC
Lloyd Triestino
changed the name to
Italia Marittima, and
then integrated into
Evergreen
CMA/ CG P3
M& MSC
CMA/CGM Mae rsk
MSC
CMA/ CGM
MSC
UASC
MISC stated
withdrawal from
GA in May.2009
Ｈapaq-Lloyd was
sold to Hamburg
Business Group.
Senator suspended
it's business in
Feb.2009
UASC
Asia-Europe
services, 4 major
groups were formed
beyond the
boundaries of
existing alliances.
(indicated as
above
)
June 2012
MISC ceased
containership
business
April 2014 New
Alliance " P3
Network" to be
launched by 3 major
liners (under
agreement of
European Commision)
11
100,000DWT
⑤ Cape-size Bulker Fleet (Data: Clarkson）
No. of Vessels
⑥ Panamax Bulker Fleet (Data: Clarkson）
100,000DWT
112.7
Nippon Yusen Kaisha
59
98.8
89.6
77.2
44
57.7
Hanjin Shpg Co.
34
83.6
Vale
57.3
29
73.7
Berge Bulk Ltd.
28
5.9
STX Pan Ocean
0
26
20
40
60
80
48
26.0
31
Excel Maritime
Carr.
22.4
Safe Bulkers Inc.
22.1
100
120
29
26
18.1
Dryships Inc.
29
Zodiac Maritime Agy.
68
40.1
Mitsui O.S.K. Lines
45
Angelicoussis Group
58.2
K-Line
51
COSCO Group
94
Nippon Yusen
Kaisha
55
Mitsui O.S.K. Lines
67.7
COSCO Group
107.1
K-Line
China Shipping
Group
17.0
Diana Shipping Inc.
17.3
Fujian Guohang
Group
15.1
24
23
22
21
0
20
40
60
80
Clarkson July 2013
⑦ Handymax Bulker Fleet (Data: Clarkson）
100,000DWT
⑧Dry Bulker (All Types) Fleet (Data: Clarkson）
No. of Vessels
Nippon Yusen Kaisha
33.3
China Shipping Group
K-Line
25.4
Eagle Bulk Shpg.
25.1
Gearbulk Ltd.
20.6
Mitsui O.S.K. Lines
19.8
Sinotrans & CSC
17.2
Jinhui Shpg. & Trans
18.2
0
20
160
174.9
157
K-Line
46
154.1
153
Mitsui O.S.K. Lines
46
41
37
Sinotrans & CSC
54.5
Daiichi Chuo
51.5
STX Pan Ocean
34
Shoei Kisen K.K.
33
14.0
27
Soroush Sarzamin
109.2
China Shipping Group
62
Enterprises Shpg.
40
60
80
100
Clarkson July 2013
120
298
224.4
241
Nippon Yusen Kaisha
85
100,000DWT
227.1
COSCO Group
110
44.7
100
Clarkson July 2013
54.8
COSCO Group
No. of Vessels
0
98
73
84.6
72
68.0
68
59.4
67
100
200
300
Clarkson July 2013
12
1,000 Cars
⑨ PCTC Operated
Nippon Yusen Kaisha
⑩ LNG Fleet (Managed)
No. of Vessels
599.9
104
475.8
Mitsui O.S.K. Lines
413.1
47
12.9
45
9.1
Nippon Yusen Kaisha
32
79
497.5
Eukor
7.7
Teekay Corporation
27
78
400.1
Wallenius Wilhelmsen Logistics
7.7
MISC
61
252.6
Hyundai Glovis
27
4.6
Gaslog
16
47
281.4
Leif Hoegh & Co.
4.0
BW Ｇａｓ
14
46
177.4
Grimaldi
3.7
"K" Line
45
102.4
NMCC
11
Exmar
42.9
0
200
300
400
500
600
10
2.6
Golar
100
9
0
700
13
2.9
19
UECC
10
20
No. of Heavy500㌧～積み以上の重量
Lifters with capacity
of over 500 ton物船隻数
BBC
30
0
SAL*
10
6
2
Hanza Heavy
7
Intermarine
8
15
0
Big Lift
12
1
Combi Lift
13
0
Jumbo
4
Ricjners
No. of Vessels (Over 1,000 ton)
8
No. of Vessels (Over 2,000 ton)
10
0
0
No. of Vessels (Over 500 ton)
5
*SAL is our 100% subsidiary
10
15
20
25
30
35
Reserched by "K"Line in Oct 2012
30
40
50
Reserched by "K"Line in March 2013
Hesnes The World Car Carrier Fleet, July 2013
⑪ Heavy Lifter Owned
No. of Vessels
Mitsui O.S.K. Lines
83
K-Line
Share(%)
13.4
STASCO (Shell
Group)
10,000 TEU
⑫ Containership Fleet
APM-Maersk
Mediterranean Shg…
CMA CGM Group
Evergreen Line
COSCO Container L.
Hapag-Lloyd
APL
Hanjin Shipping
CSCL
MOL
OOCL
Hamburg Süd Group
NYK Line
Yang Ming Marine…
K Line
Hyundai M.M.
Zim
0
261.6
234.1
593
480
149.4
81.8
206
76.8
167
70.2
150
62.7 124
62.4 115
60.2
142
53.9
111
45.8
45.4 92
109
43.4
100
38.2
37.1 88
173
35.3
33.4 69
55
33.0
87
100
200
No. of Vessels
428
300
400
500
600
700
Clarkson July 2013
13
3. World Market <3-1.Fleet Scale by Vessel-type / Age>
Min/Max* Fleet Increase Schedule
①　Dry Bulk Carriers by Vessel-type/Age
Cape (120,000dwt over)
1,800
No. of Dry Bulk Cariers
（
Mini-Cape (80-120,000dwt)
age 30-
number of vessels as of last year）
age 25-29
age 20-24
Capesize
age 15-19
age 25- min
age 10-14
age 20-25
age 5-9
Mini Cape
age 15-19
age 0-4
Panamax
1,500
1500
1,200
1200
900
900
600
600
300
300
age 25- max
2013 delivery
age 10-14
2014 delivery
age 5-9
2015 delivery
age 0-4
2016 delivery
Handymax
0
0
2011
2012
2013
2014
2015
2011 2012 2013 2014 2015 2016
2016
Handysize
Handysize
0
500
1,000
1,500
2,000
2,500
3,000
3,500
(number
4,000
of
vessels ）
Clarkson as of July 2013
**Min/Max are set as follows (ex. Handy/Tankers):
- max: all ships over age 25 are in operation continuously.
- min: all ships are scrapped at the age of 25.
Those are same for containership and PCC fleet in following pages. For
Handy-size vessels, we assume age 30 or over as borderline. Actually, average
life is going up around 30, even in case of dry bulkers. (see below) For tankers 1800
please refer to the page 15.
Scrapped Dry Bulkers
No. of Vessels
800
600
400
200
0
Age
Handymax
4,000
Panamax (-80,000dwt)
3,000
3,500
2,500
3,000
1500
10,000Gross Tonnage
No./10,000tons
3,500
2,000
2,500
Age
40
35
30
25
20
15
10
5
-
1200
2,000
900
1,500
1,000
600
1,000
300
500
500
0
0
2011 2012 2013 2014 2015 2016
Data: The Japanese Shipowners' Association
1,500
2011 2012 2013 2014 2015 2016
0
2011 2012 2013 2014 2015 2016
14
3. World Market <3-1.Fleet Scale by Vessel-type / Age>
1,000cars
No. of Vessels PCC<All Types> (No. of Vessels）
② PCC by Vessel-type/Age
1,000
No. of PCC Carriers
Unclassified
age 25-
6000- cars
800
age25-max
age 20-24
age 15-19
age 5-9
age 0-4
600
age 20-24
age 15-19
2014 delivery
2,000
age 10-14
400
age 5-9
2013 delivery
3000-4500 cars
3,000
age 25- min
age 10-14
4500-6000 cars
PCC<All Types> (units)
4,000
age 0-4
200
1,000
2015 delivery
2016 delivery
-3000 cars
0
0
2011
0
100
200
300
2012
400（No. of Vessels）
2013
2014
2011
2015
VLCC
1,000
Clarkson as of Juｌｙ 2013
2012
2013
2014
2015
AFRAMAX
1000
age 25- max
800
age 25- min
③ Oil Tankers by Vessel-type/Age
No. of Oil/Gas Cariers
age 30-
age 20-25
600
VLCC
Aframax
LR II
age 20-24
No.
age 10-14
400
age 5-9
200
age 0-4
200
age 5-9
age 0-4
0
2012
2013 delivery
No.
2013
2014 delivery
2015 delivery
LNG
400
age 15-19
age 10-14
600
age 15-19
age 25-
No.
800
2014
2015
2016
LRII
300
2016 delivery
No.
2017 delivery
0
200
400
600
800
※Min. case
for LNG
Carriers:
Scrapperd at
the age of 30.
2012
2013
2014
2015
2016
LNG
500
400
300
200
(No. of
1,000
Vessels）
0
200
100
100
Clarkson as of Juｌｙ 2013
(AFRAmax includes product carriers）
0
2012
2013
2014
2015
2016
0
2012
2013
2014
2015
2016
15
3. World Market <3-1.Fleet Scale by Vessel-type/Age>
④　Containerships by Vessel-type/Age
Min/Max*　Fleet Increase Schedule (Estimated)
No. of
Vessels
6,000
age 30-
Containerships (No. of Vessels)
age 20-24
10,000TEU over
age 30- min
age 10-14
age 25-29
5,000
age 20-24
age 0-4
age 15-19
2012 delivery
age 10-14
2013 delivery
4,000
2015 delivery
20,000
18,000
16,000
14,000
age 5-9
age 0-4
2014 delivery
Panamax 3,000-
age 30- max
age 15-19
age 5-9
post panamax-9,999
Containerships <All Types>
(No. of Vessels）
（1,000
TEU） Containerships <All Types>(Capacity)
22,000
3,000
12,000
10,000
2016ー delivery
8,000
2,000
6,000
1,000-2,999
4,000
1,000
2,000
-1,000 TEU type
0
0
（No. of Vessels）
0
500
1,000
1,500
2,000
2010 2011 2012 2013 2014 2015 2016
2010 2011 2012 2013 2014 2015 2016
2,500
Clarkson as of July 2013
1,000TEU/Vessel
25,000
20,000
World Continership Increase (Results and Forecasts)
No. of Vesses
Capacity（TEU)
Capacity Increase Ratio
25%
20%
15%
15,000
10%
（1,000 TEU)
1,600
Laid-up Containerships
1,400
TEU
1,200
5%
5,000
0%
700
No of Vessels
600
500
1,000
400
800
300
600
10,000
（No. of Vessels）
400
200
200
100
0
0
-5%
0
'88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Alphaliner Report 2013 July
Source: AXS Marine (as of July 2013）
16
① Ship Price as of Placing Order (Dry Bulkers, Tankers)
ＶＬＣＣ
Cape
Handy
150
③ World Newbuilding Orders
Mil. Gross Ton
180
180
Japan
Aframax
Panamax
Korea
China
World Total
150
120
120
90
90
60
60
30
30
0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
0
95
96
97
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
<Data: HIS ex. Lloyd's Register compiled by The Shipbuilder's Association of Japan March
2013>
Year
Year
<Data: Clarkson, as of July 2013＞
Mil. Gross Ton
400
② Dry Bulker & Tanker Market
$240,000
ＶＬＣＣ
Cape
Handy
$200,000
350
Afra
Panamax
④ World Newbuilding Work in Progress
Japan
Korea
China
World Total
300
250
$160,000
200
$120,000
150
$80,000
100
50
$40,000
0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
$0
95
96 97 98 99 00 01 02
<Data: Clarkson, as of July 2013＞
Mil. Gross Ton
1,000
03
04
05
06
07
08
09
10
11
12
⑥ World Total Existing Tonnage
Oil Tanker
Bulk Carrier
Others
800
600
400
200
0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11
Year
<Data: HIS ex. Lloyd's Register compiled by The Shipbuilder's Association of Japan March 2013>
13
As of Year-end
⑤ World Newbuilding Delivery
Mil. Gross Ton
120
110
Japan
Korea
China
World Total
100
90
80
70
60
50
40
30
20
10
0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
Year
１7
No. of Ships
/10,000GRT
No. of Ships
⑧ Oil Tanker Scrap
10,000GRT
Age
800
600
400
200
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
0
Age
No. of Ships
/10,000GRT
No. of Ships
10,000GRT
Age
40 1000
35
800
30
25 600
20
15 400
10
200
5
0
$600
Age
35
$500
Tankers
Bulk Carriers
$400
30
25
$300
20
$200
15
10
5
$100
$0
0
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
⑦ Dry Bulker Scrap
⑨Scrap Metal Prices （'95-13)
Data: The Japanese Shipowners' Association 「Kaiun Tokei Youran （2012）」
Number of Ships
⑩ Scrap History by Vessel-type
1000
Bulk Carrier
900
800
500
1975
Reopen Suez Canal
1978
Oil Crisis
LNG Carrier
1997
Asian Currency Crisis
400
300
Tanker
Containership
PCC
1985
Plaza Agreement
700
600
Clarkson, as of July 13
1973
4th Middle East War
2001
Sept 11 2003
Iraq War
2008
Financial Crisis
1990
Gulf War
200
100
0
18
3-3. Global Cargo Movements, Market
① Global Cargo Movements
(million tonnes)
Clakson, as of July 2013
$/day
180,000
140,000
③ Tanker Market (Spot)
2,500
VLCC
2,000
250,000
Cape-size
Panamax
Handy-max
200,000
④CHINA CONTAINERIZED FREIGHT INDEX
(CCFI) HISTORY
AFRA max
1,500
120,000
100,000
150,000
1,000
80,000
100,000
60,000
500
CCFI
40,000
50,000
20,000
Year
0
95
96
97
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
95
96
97
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
0
Year
0
EUR
MED
USWC
USEC
06-01
06-04
06-07
06-10
07-01
07-04
07-07
07-10
08-01
08-04
08-07
08-10
09-01
09-04
09-07
09-10
10-01
10-04
10-07
10-10
11-01
11-04
11-07
11-10
12-01
12-04
12-07
12-10
13-01
13-04
160,000
$/day
② Dry Bulk Market (1-year Charter)
Month
19
① Key Economic Indicators for North America
3-4.　Latest Economic Trends
units：1,000
1,200
1,100
1,000
900
800
700
600
500
400
15 (%)
US Housing Starts (U.S. Census)
JAN
FEB
MAR
MAR
APR
MAY
JUN
JUL
AUG
SEP
2008
4.9%
4.8%
5.1%
5.0%
5.5%
5.6%
5.8%
6.2%
6.2%
6.6%
6.8%
7.2%
2009
7.7%
8.2%
8.6%
8.9%
9.4%
9.5%
9.4%
9.7%
9.8%
10.1%
10.0%
10.0%
526
2010
9.7%
9.7%
9.7%
9.8%
9.6%
9.5%
9.5%
9.6%
9.6%
9.7%
9.8%
9.4%
689
2011
9.0%
8.9%
8.8%
9.0%
9.1%
9.2%
9.1%
9.1%
9.1%
9.0%
8.6%
8.5%
954
2012
8.3%
8.3%
8.2%
8.1%
8.2%
8.2%
8.3%
8.1%
7.8%
7.9%
7.7%
7.8%
2013
7.9%
7.7%
7.6%
7.5%
7.6%
7.6%
7.4%
7.3%
JUN
JUL
AUG
SEP
OCT
NOV
DEC
2008 1,084 1,103 1,005 1,013
973
1,046
923
844
820
777
652
560
2009
490
582
505
478
540
585
594
586
585
534
588
581
2010
615
603
626
687
580
539
550
606
597
539
551
2011
636
518
585
541
549
613
601
571
630
628
685
2012
699
698
654
717
708
760
746
750
872
894
861
2013
910
968
1021
856
914
836
896
10
0
Japan
50.0
Korea
40.0
USA
NOV
20.0
India
10.0
China
France
UK
-10
Asia-USA Cargo Increase Ratio (YoY)
ISM Non-Manufacturing index
DEC
4,000
2,000
80
75
0
65
Ministry of the Commerce of<商務部
China, June
2013
2011年６月>
60
55
0.0
⑥ Sales of Automobiles
50
-10.0
45
-20.0
40
-30.0
<Data: PIERS, ISM>
35
30
-40.0
2,000
<MOFA 'Key Economic Indicator' 2013>　④ Iron Ore Import
20
Japan
15
Korea
10
USA
5
Russia
0
China
1,000 ton
China's Growth Rate
Japan's Growth Rate
50,000
40,000
-10
30,000
-15
UK
20,000
India
10,000
<MOFA 'Key Economic Indicator' 2013>
Japan Import
60,000
France
-25
China Import
70,000
Germany
-20
USA
EU 18
China
USA's Growth Rate*
EU 18 GrowthRate*
China's Growth Rate*
140%
120%
100%
（％） ③ Mining and Industrial Output Growth (%)
25
-5
300%
280%
260%
240%
220%
200%
180%
160%
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
-60%
-80%
70
30.0
Russia
Germany
-5
OCT
Cargo Increase Cargo Growth from Asia to US and ISM Non-Manufacturing Index
ISM Index
Ratio (YoY)
Brazil
5
6,000
FEB
MAY
Export
Import
Export Growth Ratio
Import Growth Ratio
8,000
JAN
APR
② Real GDP Growth (%)
12%
11%
10%
9%
8%
7%
6%
5%
4%
⑤ Steel Export and Import of China
(1,000 ton)
10,000
US Unemployment Rate
*EU5カ国は独仏英伊蘭
0
Ministry of the Commerce of China, June 2013
1,500
80%
60%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
-60%
-80%
40%
1,000
20%
0%
500
-20%
-40%
0
-60%
*Growth Rate: YoY
<The Japan Iron and Steel Federation, Japan Automobile Manufacturers Association.Inc. etc>
20
3-5. Emerging Markets (China)
① Grain Transportation Driven by China (Soy Bean)
（mil. ton）
Soy Bean Import Quantity by Country
120
(bil. US$）
2,200
② Trade Trends for China
Export
1,800
Import
1,600
80
4.0
350
3.5
(%)
③ Energy Consumption in China
20.0
3.48
2,000
100
（bil.SCE ton*）
400
Profit of Trade
1,400
300
3.0
250
2.5
200
2.0
150
1.5
Energy Consumption
15.0
Growth Rate (YoY)
10.0
1,200
60
5.0
1,000
40
800
600
20
0.0
100
1.0 0.77
50
0.5
0
0.0
400
0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Others
Spain
Mexico
Argentina
Germany
Japan
Netherland
China
<FAO, as of July 2013>
200
0
-5.0
-10.0
85 87 89 91 93 95 97 99 01 03 05 07 09 11
94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
<National Bureau of Statistics of China as of July 2013>
＜Jetro, as of July 2013＞
*SCE=Standard Coal Equivalent
（mil.ton）
④ Per Capita GDP by Province in China
Soy Bean Export Quantity
＜1,000 yuan＞
<Times>
100
⑤ Gap between Urban and Rural Areas, 2012
A v era g e H ous ehol d A s s et i n Chi na
Urban
90
Shanghai
Beijing
Guangdong
Sichuan
Yunnan
Gap (1st-31st)
80
70
Hubei
Shanghai
Guizhou
5.8 Times
(10,000 yuan)
Rural
Urban/Rural (times)
Financial Asset
11.2
3.1
3.6
Non-financial Asset
145.7
12.3
11.8
Total Asset
156.9
15.4
10.2
Data: 'China Household Finance Survey'
Beijing
by Survey and Reseach Center for China Household Finance
60
Guangdong
Gap (1st-31st)
50
40
30
Hubei
20
１０.９ Times
Sichuan
Beijing
10
0
７.3 Times
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Others
USA
Paraguay
Argentina
Yunnan
Guizhou
Sichuan
Yunnan
Guizhou
Hubei
Shanghai
Brazil
<FAO, as of July 2013>
＜Trade White Paper 2012＞
Guandong
２１
4. Bulk Carrier Business　<4-1. "K"Line Fleet>
① "K" Line's Dry Bulk Fleet
Cape
Over Panamax
Panamax
Handy Max
Small Handy
Chip + Pulp
Ｔｏｔａｌ
Cape
Handy Max
vessels
(DWT 170,000 ton～）
(DWT around 100,000 ton）
(DWT approx. 6-70,000 ton
(DWT approx. 4-50,000 ton
(DWT appox. 3-40,000 ton）
0103
33
10
23
13
19
11
109
0203
33
11
23
14
21
11
113
0303
45
12
29
20
17
13
136
0403
50
15
28
16
17
14
140
0503
51
14
40
15
15
14
149
0603
56
12
33
17
11
14
143
0703
62
15
35
21
11
15
159
0803
61
15
42
24
12
15
169
0903
61
16
35
22
15
17
166
1003
68
18
44
27
12
16
185
1103
77
20
49
31
13
16
206
1203
88
21
48
46
17
16
236
1303
99
26
42
50
22
13
252
*Data for Over Panamax till 0503 show no. of vessels operated by thermal coal carrier division
240
210
180
150
120
90
60
30
0
11
19
13
23
10
33
90
LNG (inc. co-owned)
Tankers
ＬＰＧ
ＣＬＥＡＮ
ＤＩＲＴＹ
ＶＬＣＣ
2
2
5
3
12
Tankers Ｔｏｔａｌ
0403
24
3
3
5
4
15
0503
26
3
3
6
4
16
0603
30
3
3
9
4
19
0703
31
3
2
10
4
19
3
5
10
5
23
0803
34
5
5
12
6
28
0903
47
5
6
13
6
30
14
17
16
28
15
14
15
15
40
14
14
11
17
33
12
45
50
51
56
LNG (inc. co-owned)
Tankers ＣＬＥＡＮ
Tankers ＶＬＣＣ
vessels
0303
22
13
17
20
29
12
Panamax
Chip + Pulp
15
12
24
17
15
22
35
15
42
15
35
16
62
61
61
15
11
21
16
13
31
16
12
27
26
21
99
88
77
68
42
48
20
18
50
46
49
44
13
22
16
17
0103 0203 0303 0403 0503 0603 0703 0803 0903 1003 1103 1203 1303
② "K" Line's Energy Transportation Vessel Fleet
0203
21
11
21
14
23
11
33
Over Panamax
Small Handy
1003
47
1103
46
5
6
14
9
34
5
6
10
9
30
1203
43
5
6
7
8
26
1303
43
5
4
5
8
22
80
Tankers ＬＰＧ
Tankers ＤＩＲＴＹ
70
60
6
50
3
5
4
5
2 33
4
6
3
3
4
9
3
3
21
22
24
26
40
30
20 2
10
4
10
23
5
10
5
3
12
5
5
30
31
34
6
9
13
14
6
5
47
9
6
5
10
6
5
8
7
6
5
8
5
4
5
47
46
43
43
0
0203 0303 0403 0503 0603 0703 0803 0903 1003 1103 1203 1303
③ Ship Price as of Placing Order (Dry Bulkes, Tankers)
180
150
ＶＬＣＣ
Afra
Cape
Panamax
④ Number of LNG Carriers (Industry)
400
Handy
350
120
300
250
90
200
150
60
100
50
30
0
96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13
0
95
96
97
98
99
00
01
<Data: Clarkson, as of July 2013>
02
03
04
05
06
07
08
09
10
11
12
13
＜THE JAPAN MARITIME DAILY ＞
22
①　Transition of World Crude Steel Production
Data: The Japan Iron & Steel Federation, as of July 2013
Others
Brazil
China,
Japan Korea
India
France
Germany
Italia
Spain
UK
USA
Turkey
China
France
Spain
CIS(Soviet)
Others
Others
France
UK
CIS(Soviet
)
Japan
India
Italia
Turkey
Brazil
India
France
Germany
USA
China
CIS(Soviet
)
Germany
Japan
India
Italia
Turkey
Brazil
China
France
Spain
CIS(Soviet)
Others
Korea
Germany
UK
USA
Korea
USA
France
Germany
UK
Japan
India
Italia
Turkey
Brazil
China
France
Spain
CIS(Soviet)
Others
Italia
CIS(exSovi
et)
Turkey
Korea
Germany
UK
USA
Turkey UK
China
Korea
India
France
Germany
Italia
Spain
UK
Turkey
CIS(exSoviet)
USA
Brazil
Others
Brazil
2005 Total 1,146 mil.ton
Japan
109.5
Others
Brazil
Spain
Japan
2010 Total 1,411 mil ton
（YoY 17.2 %）
Japan
107.6
Others
Brazil
India
（YoY 7.4 %）
Japan
107.2
China
95.4
Italia
Spain
CIS(Soviet)
Turkey
Korea
Germany
UK
USA
Korea
India
France
Brazil
Italia
Spain
UK
Japan
101.6
Others
Others
USA
Spain
（YoY 2.0 %）
Brazil
Japan
Korea
Turkey
China
France
Spain
CIS(Soviet)
Others
China
Brazil
Italia
USA
Korea
Germany
UK
USA
Others
Japan
Others
Germany
CIS(Soviet
)
Japan
India
Italia
Turkey
Brazil
Korea
India
Brazil
1995 Total 752 mil.ton
Japan China
Others
Japan
112.5
Brazil
USA
USA
CIS(exSoviet)
USA
CIS(exSoviet)
China
716.5
Turkey
UK
CIS(exSoviet)
China
683.2
Turkey
Japan
India
Italia
Turkey
Brazil
China
France
Spain
CIS(exSoviet)
Others
Korea
Germany
UK
USA
Japan
India
Italia
Turkey
Brazil
France
India
Korea
UK
Spain
India
Germany
Italia
France
Spain
Italia
Germany
France
India
Japan
India
Italia
Turkey
Brazil
India
Korea
China
France
Spain
CIS(exSoviet)
Others
Korea
Germany
UK
USA
CIS(exSoviet
)
Turkey
UK
Spain
Italia
Germany
France
China
626.6
Turkey
UK
Spain
Italia
Germany
China
353.2
USA
Japan
India
Italia
Turkey
Brazil
China
France
Spain
CIS(exSoviet)
Others
Korea
Korea
Germany
UK
USA
Korea
China
France
Spain
CIS(exSoviet)
Others
Korea
Germany
UK
USA
23
②　Global Main Trades of Coal （2010 Estimation）
mil tons oil equivalent
③ World Coal Consumption
2,000
Russia
Other Europe
1,800
USA
EU15
1,600
China
Japan
1,400
Russia
India
Others
ASEAN
1,200
1,000
800
Canada
600
400
200
China
OECD Europe
U.S.A
0
Japan
BP Statistical Review of World Energy June 2013
mil tons, oil equivalent
6000
Other Asia
N.America
Africa/M.East
Estimate for Future Coal Demand
4000
World
Columbia
China
2000
Indonesia
S.America
India
0
1990
Australia
2000
2010
2020
2035
EDMC Asia/Energy Outlook 2013
⑥ BDI & Port Congestion in Australia
S.Aｆrica
Data: METI Energy White Paper 2013
(*)Cargo flow under 3 million tons not included
Blue : Increased (YoY), Red : Decrease (YoY)
Import to China is included in "Other Asia"
(Unit: million ton)
12000
Dry Bulk Index (BDI)
10000
8000
6000
mil tons
1,300
1,200
1,100
1,000
900
800
700
600
500
400
300
200
100
0
④ Iron Ore Import into Major Asian Countries
Japan
China
Korea
Taiwan
Total
10,000ton
10,900
4000
⑤Iron Ore Stocks at Chinese Ports
2000
0
10,400
9,900
9,400
8,900
8,400
7,900
7,400
6,900
6,400
China Custeel Data 2013
SSY, as of July 2013
24
5.　Car Carrier Business <5-1."K"Line Fleet and Cargo Movements>
6000
5000 （4750-5650）
0103
0203
0303
0403
0503
0603
0703
0803
0903
1003
1103
1203
1303
-
3
4
7
10
12
13
17
22
24
28
34
35
28
28
28
26
26
29
30
32
26
21
23
21
23
Vessels
110
100
800
4000
Fleet Scale
(No of. Vessels)
13
13
15
17
20
24
25
21
16
20
24
20
22
10
2000 （1600-2500）
10
10
8
8
9
6
13
4
13
2
15
2
14
11
5
5
10
4
4
7
4
8
4
8
3
8
800 （800-850）
6
5
5
5
10
15
14
12
10
6
6
6
6
Ｔｏｔａｌ
67
65
65
70
78
93
100
102
93
78
89
97
95
60
Japan/Europe
Trade Bound for Japan
7
28
13
20
10
10
6
32
28
13
8
9
24
26
13
13
2
8
6
4
5
5
5
10
21
Fleet Scale
（Est. Capacity)
15
14
2
5
11
5
300
23
200
21
25
150
21
15
3000
6000
250
23
24
17
13
35
26
20
30
10
30
29
34
28
26
28
2000
5000
16
10
4
4
7
15 14 12
10 6
20
4
24
4
20
100
3
50
8
8
8
6
6
6
0
③ Total Cars/Trucks Expoted from Japan （Inc. Cars by GM Japan)Total Cars/Trucks Expoted
② Cars/Trucks Transported by Our Fleet
Japan/North America
Others
4
40
0
10,000 Cars
3
800
4000
350
12
80
50
3000 （2800-3500）
17
0103
0203
0303
0403
0503
0603
0703
0803
0903
1003
1103
1203
1303
13
1,000 cars
450
3000
6000
400
13
90
70
4000 （3800-4600）
2000
5000
0103
0203
0303
0403
0503
0603
0703
0803
0903
1003
1103
1203
1303
① "K" Line PCC Fleet
No. of Cars (RT)
Japan/Others
400
10,000 units
700
Others
600
Oceania
350
300
500
250
400
Africa
South America
Central America
Russia
200
300
Middle East
150
Other Asia
200
100
50
China
EU
100
USA
0
0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
※ 'Others' includes short sea transportation in Europe from 04/09
<Data: JAMA, July 2013＞
25
5-2. Demand on Vehicles
①　World Automobile Production　<OICA, July 2013>
②No. of Vehicles Possessed (Cars/1,000 People)
（Unit: Mil. Cars）
100
Breakdown in Asia (2012)
CHINA
USA
Middle East
EU27
900
Brazil
China
ASEAN9
Russia
Japan
Africa
Korea
800
JAPAN
80
OTHER ASIA
(EX.Japan and China）
60
Indonesia
2%
Iran
2%
Malaysia
1%
Others
1%
Thailand
ASIA 6%
EUROPE
India
10%
20
Korea
11%
OCEANIA
Japan
23%
400
300
200
China
44%
0
AFRICA
600
500
40
USA
700
100
0
97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
1997
31.2％
34.2％
33.2％
Asia
Europe
USA
1971 1973 1980 1985 1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
<Data: 'Handbook of Energy & Economic Statics in Japan' (2013),etc
2012
51.7％
23.6％
23.8％
Unit : mil.cars
20
③ Transition of Overseas Vehicle Production by Japanese Automakers
ＥＵ
Europe(ex.EU)
Africa
USA
Middle East
Latin America
Unit 1000 Cars
18,000
<Data: JAMA, July 2013>
Production
Sales
(Import in Sales)
15
10
Asia
North America (ex.USA)
Oceania
5
0
Overseas Vehicle Production by Japanese Automakers
16,000
④ Four-wheel Car Production and Sales in USA
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
<DATA:JAMA, July 2013＞
14,000
10,000 cars/month
12,000
70
60
50
40
30
20
10
0
10,000
8,000
6,000
4,000
⑤Monthly Automobile Export Volume from Japan
Global Financial Crisis
The Earthquake
2,000
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
0
<Data: JAMA, July 2013>
26
6. Containership Business <6-1. "K"Line Fleet and Cargo Volume>
～1400TEU type
2800TEU type
5500TEU type
Vessels
①　"K"Line Containership Fleet
0103
8000TEU over
0203
0
0
(8000-)
0303
0403
0
0503
0
0603
0
0703
0
0803
3
0903
4
1003 1103 1203 1303
6
8
8
100
Fleet Scale（No. of Vessels）
4
3 18
13
9
80
0
(5500-6500)
8
13
13
13
15
18
18
18
16
19
18
18
60
3500TEU type
21
(3400-4000)
16
17
17
22
25
23
24
25
29
24
28
26
0
0
8
(2700-2900)
2000TEU type
(1500-2500)
～1400TEU type
Total
1,000 TEU
Volume
5
5
4
5
5
7
8
5
5
4
3
21 16
13
10
13
11
9
11
17
20
19
15
14
13
18
19
18
17
22
23
27
28
24
10
12
8
3
57
61
63
64
73
77
89
99
98
87
82
80
75
300
18 8
8
24
25
23
22 25
8
5 29
USD/TEU
② "K" Line Containership Average Freight/Volume for All Routes
Average Freight
17 17
2000TEU type
3500TEU type
8000TEU over
Fleet Scale
（Estimated Capacity）
9
19
13
250
18
18
24
7
28
5 11 17 20
8
5
26
5 4
4
11 9
13
3
10
10 13
20
19 15
14 2
27 28 24
23
22
13
18 19 18 17
10 12 8
3
0
5
2
10
13
0
8 13 13
40
2800TEU type
0
6
16
15
1,000 TEU
～1400TEU type
2800TEU type
5500TEU type
350
0 18
0
5500TEU type
2000TEU type
3500TEU type
8000TEU over
200
150
5
100
50
0
③　"K"Line Volume, Share for Asia-North America/Europe Routes
（1,000TEU）
Asia-North America East-bound Volume, Share
(Share)
500
1,600
1,200
6.0%
450
5.0%
400
1,440
1,403
1,349
1,000
1,207
1,194
1,178 1,175
1,128
1,143
1,132
1,122
1,073 1,073
1,110
1,108
1,037
1,044
1,078
1,055
915
861
932
504
450
435
530
754 742
925
615
810
400
808
711
852
600
391
1,175 1,220
1,146
1,144
1,143
1,139
556
575 584 566
630 617
763
732
1,235
810
804
751984
789
753
729
1,400
1,323
771
738
3.0%
200
1,181
1,120846
833 1,108
789 790 777
4.0%
300
250
1,262
1,249
1,147
859 865
825
1,315
1,283
1,283
1,301
350
1,315
1,299
1,243
1,000
981
413 414 407 426
1,250
1,050
800
1,068
1,173
1,337
871 1,242
1,200
811
2.0%
150
100
793 768
716
1.0%
50
1,000
1,012
661 667 666 657
2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H
628
909
595
855
800
516 520
409
Share
4.8% 4.8% 4.9% 4.7% 5.1% 4.8% 4.6% 4.6% 4.8% 4.7% 4.8% 4.9% 5.4% 5.7% 5.5% 5.6% 5.6% 5.5% 5.2% 4.6% 4.7% 4.6% 4.7% 5.6%
（1,000TEU）
600
355
311
266 258 277 280
0.0%
KL Volume 172 195 208 235 244 251 248 280 291 334 325 374 382 439 361 384 300 352 332 343 314 329 330 413
Asia-Europe West-bound Volume, Share
（Share)
350
6.0%
300
5.0%
250
400
4.0%
200
3.0%
200
150
200
2.0%
100
1.0%
50
0
97F 1H
97F 2H
98F 1H
98F 2H
99F 1H
99F 2H
00F 1Q
00F 2Q
00F 3Q
00F 4Q
01F 1Q
01F 2Q
01F 3Q
01F 4Q
02F 1Q
02F 2Q
02F 3Q
02F 4Q
03F 1Q
03F 2Q
03F 3Q
03F 4Q
04F 1Q
04F 2Q
04F 3Q
04F 4Q
05F 1Q
05F 2Q
05F 3Q
05F 4Q
06F 1Q
06F 2Q
06F 3Q
06F 4Q
07F 1Q
07F 2Q
07F3Q
07F4Q
08F1Q
08F2Q
08F3Q
08F4Q
09F1Q
09F2Q
09F3Q
09F4Q
10F1Q
10F2Q
10F3Q
10F4Q
11F1Q
11F2Q
11F3Q
11F4Q
12F1Q
12F2Q
12F3Q
12F4Q
0
*As cargo volume for '97 1H-'99 2H, half of the actual data are indicated.
2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012
1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H
KL Volume
Share
97
101
98
0.0%
151 155 174 179 187 198 209 222 234 262 252 269 290 227 224 226 249 246 245 239 241
3.7% 3.7% 3.5% 5.0% 4.5% 4.8% 4.4% 4.5% 4.2% 4.0% 4.1% 3.8% 4.0% 3.5% 4.0% 4.5% 4.2% 3.6% 3.4% 3.5% 3.6% 3.5% 3.5% 3.7%
27
6-1. "K" Line Fleet and Cargo Volume
④ "K"Line/Market Cargo Volume, Loading Factor for Asia-North America/Europe Services
Container Transpacific Trade (Market) Data: Drewry
"K"Line Asia-N. America (East-bound) Volume, L/F
1,000 TEU/USD
CAPA E/B
CARGO E/B
Freight(USD/teu)
as of July 2013
Loading FactorE/B(%)
120%
5,000
1,000 ＴＥＵ
Cargo Volume
L/F
4,500
250
100%
120%
4,000
200
100%
3,500
80%
3,000
150
80%
60%
2,500
60%
40%
2,000
100
50
40%
1,500
20%
1,000
20%
0%
500
0%
0
1996
1997
1997
1998
1998
1999
1999
2000
2000
2000
2000
2001
2001
2001
2001
2002
2002
2002
2002
2003
2003
2003
2003
2004
2004
2004
2004
2005
2005
2005
2005
2006
2006
2006
2006
2007
2007
2007
2007
2008
2008
2008
2008
2009
2009
2009
2009
2010
2010
2010
2010
2011
2011
2011
2011
2012
2012
2012
2012
0
-20%
2H1H2H1H2H1H2H1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q
Container Asia Europe Trade (Market)
"K"Line Asia-Europe (West-bound) Volume, L/F
1,000 TEU/USD
1,000 ＴＥＵ
160
Cargo Volume
L/F
120%
CAPA Ｗ/B
CARGO Ｗ/B
Data: Drewry
Freight(USD/teu)
as of July 2013
Loading Factor E/B(%)
3,000
120%
2,500
100%
2,000
80%
1,500
60%
1,000
40%
500
20%
100%
120
80%
80
60%
40%
40
20%
0%
0
1998
1998
1999
1999
2000
2000
2000
2000
2001
2001
2001
2001
2002
2002
2002
2002
2003
2003
2003
2003
2004
2004
2004
2004
2005
2005
2005
2005
2006
2006
2006
2006
2007
2007
2007
2007
2008
2008
2008
2008
2009
2009
2009
2009
2010
2010
2010
2010
2011
2011
2011
2011
2012
2012
2012
2012
2013
2013
2013
2013
0
1H2H1H2H1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q
0%
28
6-2. Container Terminal Operated by "K"Line
Tokyo（Ohi)
Husky (Tacoma)
Ａ．Ｉ．Ｔ
Antwerp
ITS (Long Beach)
Tacoma
Osaka・Kobe
Tokyo・Yokohama
Long Beach
Kobe（Rokko）
<海事センター/Piers>
Japan
USA
<FEFC>
Terminal
Location
"K"LINE Tokyo Container Terminal
Ohi No.1 and No.2 Berth
660 ｍ
15 ｍ
259,500 m2
4,370 ＴＥＵ
5 Units
"K"LINE Yokohama Container Terminal
Honmoku Quay A No.5 and 6 Berth
400 ｍ
12 ｍ
133,591 m2
1,968 ＴＥＵ
3 Units
"K"LINE Osaka Container Terminal
Nanko No.8 Berth
350 ｍ
14 ｍ
63,031 m2
1,082 ＴＥＵ
2 Units
"K"LINE Kobe Container Terminal**
Rokko Terminal RC 4 West and RC 4/5 Berth
International Transportation Service, Inc.
Long Beach, CA., Pier G
Husky Terminal and Stevedoring Inc.
Belgium Antwerp Internatinal Terminal NV***
Length
Depth
Total Area
Storage Capacity*
Gantry Cｒane
700 ｍ
14 ｍ
283,510 m2
4,478 ＴＥＵ
5 Units
1,552 ｍ
13-16 ｍ
955,000 m2
12,155 ＴＥＵ
19 Units
Tacoma, WA., Berth 3&4
830 ｍ
16 ｍ
376,000 m2
4,800 ＴＥＵ
4 Units
Antwerp, PSA-HNN Deurganck Terminal
340 ｍ
15.5 ｍ
175,000 m2
2,990 ＴＥＵ
3 Units
* Flat Space
**Operating with APM Terminals, Japan. Storage Capacity etc. is a total of the area that APM Terminals, Japan utilizez.
***Joint venture between K-Line ,Yang Ming Line,Hanjin Shipping and PSA-HMN.
29
6-3. Container Cargo Movements
①　Container Cargo Movements
<Maritime Report 2002>
<IHS Global Insight Trade and Transportation: Report May 2013>
②　Asia⇒North America/Europe Cargo Volume by Country
1000 TEU
15,000
640
12,000
9,000
6,000
351
1,152
572
456
736
Japan
10%
3,000
China
57%
China *
Cargo Volume : Asia⇒North America
630
1,683 630
581 1,701
585 1,611
1,605 630 602
502
551
612
539
828
611 883
607 1,445
1,446
575
447
743
429
419 1,326 615 873
529
539
515
1,283 685 813
629 512
516 773
736
10,083
9,779
9,174
8,634
7,867
7,403
5,448
1000 TEU
639
654
525
699
629
Taiwan
ASEAN
South Asia
530
703
643
448
9,062 9,001 8,948
308
405
994
919
708
543
314
Japan
5%
221
238
Japan
28%
2,000
6,111
China
34%
161
485
283
392
159
517
285
426
932
883
1,141 1,211
197
531
206
573
302
439
340
455
895
843
611
391
470
840
1,577 1,726
616
470
488
834
828
738
626
818
697
857
621
741
418
<Japan Maritime Center/Piers (as of July 2013)>
437
8,000
1,009 952
971
652
570
705
596
6,000
660
658
826
864
860
3,037 3,198
2,762 2,814
2,389 2,497
2,006 2,233
0
0
Cargo Volume : Asia⇒Europe
Cargo Volume : North America⇒Asia
6,000
China
68%
1000 TEU
10,000
4,000
4,253
Korea
680
1,618 1,635 1,724
496
675
603
Japan
*Data for China includes Hong Kong and Macao
Japan
13%
4,000
2,000
China
48%
0
<Drewry, as of July 2013>
30
6-4. Container Handling Volume by Port
①　Container Handling Volume in Asia
Transition of Container Handling Volume in Asia
Shanghai
32,500
49
Hong Kong
23,100
1,465
Kaohsiung
9,781
979
②　Top 10 Ports for 2012 Container Handling
Busan
17,000
634
Osaka Bay
4,977
1,724
Tokyo Bay
7,288
1,354
1
2
3
4
5
6
7
8
9
8
2012（Above）
※ Ports in China
1980（Below）
（Unit：1,000TEU)
Singapore
31,649
917
Port
Shanghai
Singapore
Hong Kong
Shenzhen
Busan
Ningbo
Guangzhou
Qingdao
Dubai
Tianjin Xingang
2012
32.5
31.6
23.1
22.9
17.0
16.8
14.7
14.5
13.2
14.5
（Unit: Million TEU）
2011 Growth Ratio
31.7
29.8
24.3
22.5
16.1
14.4
14.4
12.8
11.8
13.6
2.5%
5.7%
-5.3%
1.6%
5.2%
14.3%
2.2%
11.4%
10.6%
6.2%
for reference
2006
Singapore
Hong Kong
Shanghai
Shenzhen
Busan
Kaohsiung
Rotterdam
Hamburg
Dubai
Los Angels
(Containerization Inｔernational, March 2013)
mln.TEU③ Transition of Container Handling among Major Ports in Asia
35
Singapore
Shanghai
Hong Kong
Shenzhen
Busan
Kaohsiung
Qingdao
Tokyo
Yokohama
Nagoya
Kobe
Osaka
30
25
20
<④ Asia-N.America Trade Trends by Commodity＞
East Bound（ Asia→Ｎ.America) 2012
Commodity
1 Furniture and Household Goods
2 Apparel and Related Items
3 General Electric Equipments
4 Auto Parts
5 Toys
6 Footwear and its Accouterments
7 Audio & Vidsual Equipments, like TVs or Videos
8 Plastic Products inc. Blind, Flooring
9 Construction Tools and Related Items
10 Tyres and tubes of Cars, Trucks, etc.
<Japan Maritime Center ＞
Share
14.3%
11.6%
7.8%
4.2%
3.9%
3.0%
2.9%
2.8%
2.8%
2.6%
West Bound（ N.America→Asia） 2012
Commodity
1 Paper, Paper Board, and its Products
2 Pet Food and Animal Feed
3 Metal and Scrap
4 Steel and its Products
5 Furniture and Household Goods
6 Apparel and Related Items
7 Raw Woods and its Products
8 Meat and its Processed Products
9 Plastic inc. Resin
10 Fat,Oil and Oilseed
15
Share
21.9%
7.7%
5.2%
4.2%
4.2%
4.1%
3.6%
3.4%
3.2%
2.7%
10
5
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
<Containerization International Year Book, Website for Each Port, etc. as of July, 2013＞
31
6-5. Factory of the World, Asia
①　Procuction by Country
② Trends of Export from Asian Major Countries and Regions
Audio-video equipment : 870 mln units in '09
Europe
6%
N.
America
1%
Ｏｔｈｅｒｓ
8%
China
66%
Communications devices:
1.89 bln units in '09
2,000
N. America
5%
1,500
Asia (ex.
Japan,
China)
21%
China
54%
1,000
500
Japan
3%
0
Electronic Parts: 3,800 bln yen in '08
Others
3%
Europe
9%
Europe
5%
N.America
1%
N. America
7%
China
24%
Asia (ex.
Japan,
China)
21%
（Billion
dollar）
800
Export ex. ASEAN 4
Year to Year Growth Rate
（Billion dollar）
40% 1,400
700
Japan
37%
20%
500
10%
400
0%
200
100
0
1,000
800
400
-10%
200
-20%
0
’80’82’84’86’88’90’92’94’96’98’00’02’04’06’08’10
China
23%
Ｏｔｈｅｒｓ
9%
Japan
12%
Korea
5%
Asia (ex.
Japan,
China,
Korea)
12%
Ｏｔｈｅｒｓ
13%
U.S.A
15%
Europe
24%
Russia
5%
U.S.A.
8%
China
46%
India
5%
<METI White Paper on International Economy and Trade 2010, JISF, JETRO> (as of July 2013>
35%
30%
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%
’89’91’93’95’97’99’01’03’05’07’09’11
Export ex. Japan
40%
800
30%
700
20%
600
10%
0%
400
Taiwan
1%
Korea
4%
(Billion dollar）
900
500
Europe
11%
Japan
7%
600
300
Crude Steel: 1.54 mln giga ton in '12
Export ex. NIEs
30% 1,200
600
Asia (ex.
Japan,
China)
23%
Japan
2%
Automobile: 84.14 mln units in '12
35%
30%
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%
-25%
2,500
Japan
5%
China
68%
3,000
Europe
12%
Ｏｔｈｅｒｓ
5%
Asia (ex.
Japan,
China)
14%
Export ex. China (inc. Hong Kong)
Year toYear Growth Rate
（Billion dollar）
Home appliances: 480 mln units in '09
-10%
300
200
-20%
100
-30%
0
-40%
’80 ’82 ’84 ’86 ’88 ’90 ’92 ’94 ’96 ’98 ’00 ’02 ’04 ’06 ’08 ’10 ’12
32
７．New Businesses
7-1. Business Target of our Energy Transportation Division
Stream of Oil and Natural Gas
Midstream
Upstream E&P
Exploration
Development&Production
Transportation
Downstream
Refinement&Sales
LNG輸送
Drill Ship
Offshore Support
Vessel
LNG FPSO
(LNG Producer)
Offshore Support Vessel
(by K LINE OFFSHOER AS）
Drill Ship
(7 ships in operation)
(1 ship in operation )
LNG Carrier
Crude/Prodcut
LPG Tanker
FSRU
LNG FPSO (by FLEX LNG Ltd.)
(under development)
CNG Carrier
(under development)
World Oil and Gas Production Forecasts
Mln.Barrel/day
Heavy Lifter
CNG Carrier
As production at existing oil fields is shrinking, it is inevitable to develop undeveloped oil and gas
fields in ultra-deep waters and remote areas to respond to steady energy demand. Demand for
advanced drillships and offshore support vessels used at those areas is rapidly increasing. Notably,
Brazil has succeeded in resource development in the pre-salt Santos Basin and is actively investing in
development. Anticipating this change in the business environment, in the Group’s medium-term
management plan that began in fiscal 2008,
“K” Line set forth a policy of expanding the scope of energy resource development business beyond
conventional marine transport such as oil and gas tankers by developing new businesses in the
upstream sector, such as offshore support vessels, drillships and LNG FPSO.
The “K” Line Group will establish a business model that will make possible participation in wideranging transport operations from upstream to downstream in offshore energy resource businesses
and development of a stable earnings base by further increasing synergy between energy resource
transportation services, heavy lifter vessel services and offshore support vessel services.
Undeveloped
Oil field
Oil production from
current producing
fiels is peaking out
and decreasing.
33
７. New Businesses <7-2.New Business Expansion>
①Heavy Lifter
●Business Environment
We anticipate firm cargo movements as a result of movement of
infrastructure-related cargo, centered on the Middle East and Australia, as
well as active investment in offshore oil and gas field development and wind
power generation systems in response to persistently high crude oil prices.
Business
●Business Histroy
Loading operation of large
reactor for oil refinery
Project cargo：Assembled
module of LNG plant
Project cargo：Drill equipment used in GOLIAT
OFFSHORE project near Hammerfest Norway
Project cargo：Wind energy
components
"K" Line re-entered heavy lift transportation business via its European
subsidiary company possesses 50% share of SAL Group in 2007,
headquartered in Germany, and aquired balanced 50% at the end of June
2011 which means "K" Line became 100% owner of SAL Group.
We developed the heavy lifter services as a core business.
●Operating Fleet
The SAL Group operates a fleet of 16 heavy lifters with lifting capacity ranging
from 600 to 2,000 tons. The SVENJA and LONE, two heavy lifters owned by the
SAL Group equipped with cranes with the world’s highest lifting capacity of 2,000
tons, equipped with the Dynamic Positioning System (DPS), will meet needs for
the transport of oil and gas development facilities and offshore-related facilities,
which require advanced transport techniques.
SAL's Global Network
SAL has business sites around the world and aims to engage in business
development utilizing selling capabilities underpinned by SAL’s advanced
maritime technical capabilities and knowledge and “K” Line’s global network.
34
７. New Businesses <7-2. New Business Expansion>
②Offshore Support Vessel Business
●Business Environment
With the heightening of energy needs world wide, development of undeveloped
oil and gas fields in ultra-deep waters is being more active . Demand for offshore support vessels
has rapidly increased in all over the world, notably in Brazil which is actively investing large
amount in development.
●Business History
In 2007, “K” Line established K LINE OFFSHORE AS, an offshore support vessel operator
headquartered in Norway, and began vessel operation in the North Sea in 2008.
Activity of offshore energy E&P is increasing in step
with the heightening of energy needs worldwide,
and the “K” Line Group is actively entering the
offshore energy E&P support business. Notably,
subsidiary company K LINE OFFSHORE AS received
delivery of final Newbuilding in June 2011, and now
operates seven advanced offshore support vessels
offshore of Brazil and in the North Sea, some under
long-term charter contracts with highly-respected
customers.
We will continue business in the offshore Energy
E&P support business sector, a growth market,and
seek to win new business.
●Anchor Handling Tug Supply(AHTS) vessels
AHTSs engage in support activities when offshore drilling rigs are moved
from location to location, such as raising anchors from the seabed, rig
towing. AHTS also engages in support activities for seabed pipeline laying
works.
Our AHTSs , with length 95 meter and width 24 meter, have propeller
output of 34,000 horsepower and one of the world's biggest bollard pull
power (towing power) of 390 tons. They are equipped with all the latest
equipment and systems, including a dynamic positioning system (DPS) for
maintaining the vessel in a fixed position using its propulsion system,
remotely operated vehicles (ROV) for monitoring undersea work for use in
the installation, repair and maintenance of subsea equipment etc.
●Fleet and Medium-Long term Contracts
The company has a fleet of seven vessels, 2 AHTS and 5 PSV, all of which are now in operation.
With regard to PSV, the company concluded a contract for two PSVs with Petrobras, the Brazilian
state-owned energy company and entered into a contract for two large PSVs with the UK
subsidiary of major US energy company ConocoPhillips.
Other 2 AHTS and 1 PSV were under spot operation but the company suceeded to have good
track record in North Sea and receive a high evaluation from charterers.
●Platform Supply Vessel (PSV)
PSVs are “sea trucks” used mainly to transport
materials and fuel to offshore rigs.
The company’s new PSVs , with length 95 meter
and width 20 meter , are among the world’s
largest, with deadweight capacity of 5,100 tons and
deck area of 1,100 square meters. Those vessels
also have latest equipment and systems such as
DPS.
35
７. New Businesses <7-2. New Business Expansion>
③ Drillship Business
●Ultra-Deepwater Drillship Now in Operation in Petrobras Pre-Salt Oil Field off
Brazil
Named “Etesco Takatsugu J,” the drillship is the most advanced of its type in the world
and was constructed at Samsung Heavy Industries Co., Ltd. of South Korea in 2011. It is
capable of drilling in water depths of 10,000 feet (3,000 meters) and down to 30,000
feet (9,000 meters) below the seabed. This ship has been under charter to Petrobras
since April 2012.The first well will be drilled in the Franco SW block in water
approximately 2,000 meters deep about 200 kilometers off Rio de Janeiro. The area is
located in pre-salt fields in which Petrobras holds an interest.
The drillship is owned by Etesco Drilling Services, LLC, a company that was established in
the United States with the four Japanese companies(*4J) holding equity stakes totaling
over 85 percent. (*4J = Nippon Yusen Kabushiki Kaisha , Mitsui & Co., Ltd., Kawasaki
Kisen Kaisha, Ltd. , and Japan Drilling Co., Ltd. )
MV"ETESCO TAKATSUGU J"
④LNG FPSO Projects
In recent years, there have been numerous discoveries of large oil and gas fields in presalt areas in Brazilian coastal waters, and there is worldwide interest in these massive
deposits. The region concerned is believed to have the potential for further
development and is a priority area for Petrobras. Through this business, the four
Japanese companies will contribute to exploration for oil and gas in the promising fields.
● Business Environment
As a clean energy, global demand for LNG is expected grow, and expectations for LNG
producers is increasing more and more , as a tool to provide a solution for developing
small and medium-size gas fields with lower costs and more efficiency where costs of
buiding land-based production plants and port facilities are very expensive.
●Business Strategy
FLEX LNG, a company in which “K” Line is the largest shareholder, is involved in a number
of developing projects.
“K” Line supports FLEX LNG Ltd.’s floating LNG producer projects
as the company’s largest shareholder and strategic partner.
36
8. Financial Data　<8-1. Trends of Major Financial Figures>
Our Financial Term
No. of Consolidated Subsidiaries
No. of Equity Method Affiliates
Total
Marine transportation operating revenues
Other operating revenues
Total Operating Revenues
Marine transportation cost
Other cost
Total Cost of Sales
Gross Profit on Sales
Selling, General and Administrative Expenses
Operating Income
Interest and Dividends Received
Equity in Earnings of Affiliates
Other Non-operating Income
Total Non-operating Income
Interest and Discount Expenses
Other Non-operating Expenses
Other sales Expenses
Total Non-operating Expenses
Ordinary Income
Extraordinary Income
Extraordinary Losses
Income before Income Taxes
Income Taxes :current
Income Taxes for prior years
Deffered Corporate Tax (△=Plus）
Minority Shareholders' Interests (△=Plus）
Minority Shareholder Income/Loss (△=Plus）
Foreign Currency Exchange Adjustaments （△=Plus)
Equity in Earnings of Affiliates ('+'=Plus)
Net Income
Total Assets
Shareholders' Equity ('Net Assets' from the Year
Ended in '07 Mar ）
Net Assets
Shareholders' Equity of Net Assets
Average Exchange Rate
Ordinary Income on Operatnig Revenues
ROE
Interest Bearing Liability
Financial Account Balance
The Ratio of
Consolidated to
NonConsolidated
NonConsolidated
117th
118th
119th
120th
121st
122nd
123rd
124th
125th
126th
127th
128th
129th
130th
131st
132nd
133rd
134th
135th
136th
137th
138th
Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in Ended in
139th
Ended in
140th
Ended in
141th
Ended in
142th
Ended in
143th
Ended in
(Unit : Million Yen)
144th
145th
Ended in Ended in
'85 Mar.
'07 Mar.
'08 Mar.
'09 Mar.
'10 Mar.
'11 Mar.
'12 Mar.
'87 Mar.
'88 Mar.
'89 Mar.
'90 Mar.
'91 Mar.
'92 Mar.
'93 Mar.
'94 Mar.
'95 Mar.
'96 Mar.
'97 Mar.
'98 Mar.
'99 Mar.
'00 Mar.
'01 Mar.
'02 Mar.
'03 Mar.
'04 Mar.
'05 Mar.
20
11
31
417,404
53,236
470,640
361,772
46,746
408,518
62,122
35,171
26,951
2,995
1,772
4,767
18,386
2,218
20,604
'86 Mar.
20
24
11
10
31
34
395,279 309,293
52,338
50,623
447,617 359,916
348,040 275,833
49,173
52,106
397,213 327,939
50,404
31,977
35,675
34,239
14,729 △ 2,262
2,662
2,240
8,190
13,517
15,757
10,852
17,264
17,455
833
1,370
18,097
18,825
27
10
37
312,946
49,923
362,869
276,898
52,684
329,582
33,287
32,531
756
2,000
14,939
16,939
17,574
1,114
18,688
31
7
38
323,908
65,479
389,387
273,747
58,979
332,726
56,661
41,458
15,203
2,135
7,588
9,723
17,902
636
18,538
39
6
45
383,541
71,010
454,551
319,454
68,718
388,172
66,379
44,100
22,279
2,559
6,655
9,214
21,297
2,869
24,166
48
10
58
394,933
93,173
488,107
330,387
85,524
415,912
72,194
57,260
14,934
3,267
9,203
12,471
22,443
2,688
25,131
53
10
63
413,470
97,765
511,235
335,125
93,761
428,886
82,348
63,094
19,254
2,748
6,241
8,990
22,457
2,946
25,404
53
11
64
402,960
95,883
498,843
333,645
92,140
425,786
73,057
60,155
12,902
2,716
6,402
9,121
17,159
2,367
19,526
59
11
70
359,809
84,283
444,093
298,281
79,831
378,112
65,981
59,779
6,202
2,046
6,305
8,354
13,746
2,752
16,499
82
10
92
361,318
87,651
448,969
289,322
87,879
377,201
71,767
60,594
11,173
1,588
4,188
5,778
12,767
2,913
15,681
90
11
101
352,090
98,004
450,095
272,963
103,784
376,748
73,347
49,280
24,067
1,701
5,570
7,273
17,720
3,636
21,356
95
12
107
378,793
103,827
482,620
299,352
108,403
407,755
74,865
51,265
23,599
1,960
1,344
3,306
15,840
2,734
18,574
91
13
104
411,893
105,862
517,755
322,695
116,961
439,656
78,098
51,176
26,922
1,841
1,304
3,146
15,652
3,610
19,262
88
17
105
416,308
96,791
513,100
338,768
103,075
441,843
71,256
49,748
21,507
2,157
797
1,442
4,398
15,128
5,281
20,411
87
21
108
398,602
87,090
485,693
323,902
87,839
411,741
73,951
47,133
26,817
2,100
654
1,944
4,699
11,591
5,564
17,157
93
19
112
464,341
93,527
557,869
370,014
103,351
473,365
84,504
48,494
36,009
1,992
312
1,164
3,470
12,240
434
12,675
114
17
131
493,832
77,181
571,013
410,022
92,740
502,762
68,251
49,202
19,048
1,463
178
1,680
3,323
9,478
925
142
18
160
540,208
92,516
632,725
446,189
105,816
552,006
80,719
51,436
29,282
1,332
208
1,118
2,659
6,487
1,781
177
18
195
633,564
91,102
724,666
496,401
105,151
601,552
123,113
52,579
70,534
1,904
528
827
3,261
5,451
5,778
186
18
204
730,633
97,810
828,443
550,443
115,656
666,099
162,343
54,289
108,053
2,030
790
1,319
4,140
4,546
412
11,114
2,900
6,191
7,823
3,084
64
△ 31
96
4,802
439,903
57,901
7,484 △ 5,330
△ 993
3,493
5,838
13,275
7,894
7,138
20,491
3,083 △ 6,630 △ 8,209
2,995
1,323
1,202
△ 130
△ 361
△ 625
61
△ 813
△ 618
3
222
124
160 △ 6,557 △ 8,044
441,476 461,444 447,644
67,850
61,074
51,674
6,388
6,639
12,124
903
1,762
197
△ 669
279
△ 108
437,795
51,933
7,327
2,274
2,647
2,829
2,574
1,760
7,400
3,342
4,839
6,193
210
489
336
248
2,687 △ 3,092
461,068 505,026
54,971
50,501
2,840
2,496 △ 1,943
10,753
2,957
9,898
4,648
2,935
4,068
8,946
2,518
3,886
4,386
5,037
1,334
623
398
△ 114
418
209
119
4,355 △ 2,707
2,787
518,672 506,988 467,293
1,271
10,745
6,817
5,199
1,780
△ 141
152
3,712
429,477
9,983
5,043
9,817
5,208
2,649
30
306
2,834
522,836
8,331
6,920
5,915
9,336
3,387
333
687
6,303
557,892
10,806
2,927
7,987
5,745
4,074
250
248
1,667
576,109
10,403
5,494
14,358
26,804
11,968
7,899
4,232
2,579
14,505
7,376
7,899
26,776
18,226
6,018
10,691
2,606
8,247
4,044
4,855
8,626
3,985
- △ 1,198 △ 8,348 △ 1,090
377
192
380
585
1,596
6,843
1,948
4,767
522,498 514,802 513,797 533,295
8,269
23,672
4,263
9,255
18,680
8,662
△ 872
518
10,373
515,824
11,230
4,959
62,564 107,235
1,860
1,980
9,398
13,704
55,026
95,510
20,103
37,420
857 △ 3,209
870
1,446
33,196
59,852
559,135 605,331
5,207
88,573
8,498
1,793
95,278
27,126
3,952
1,775
62,423
757,040
6,461
63,927
14,384
1,959
76,352
23,006
315
1,516
51,514
900,438
13,974
125,867
11,834
873
136,828
47,579
2,422
3,815
83,011
968,629
19,320
60,010
6,392
20,630
45,772
6,997
1,188
5,165
32,420
971,602
357,624
376,277
356,152
331,864
314,986
259,934
361,975
334,772
100.82
343,619
93.04
291,669
86.04
242,572
79.06
340,571
82.33
4.82%
9.39% ▲ 21.38%
4.81%
10.20%
-
2.52%
3.13%
483,362
▲ 5,815
51,604
53,894
57,163
60,235
66,773
68,435
68,606
74,131
68,647
77,716
82,039
121,006
181,276
257,809
159.91
138.49
128.31
142.85
141.29
133.18
124.84
107.85
99.43
96.48
112.70
122.68
128.27
111.62
109.71
125.11
122.29
113.97
107.46
113.09
344,476
116.91
355,763
115.29
2.36%
8.61%
283,504
1.67%
0.25%
286,536
319,172
309,105
1.64%
295,912
1.61%
5.03%
0.47%
-
0.56%
8.24%
0.50%
-
5.28%
0.28%
6.68%
2.22%
4.83%
1.73%
9.93%
2.09%
2.47%
1.07%
2.33%
2.96%
9.59%
4.80%
2.73%
2.10%
6.51%
3.74%
12.99%
8.63%
32.70%
12.94%
39.60%
9.41%
28.43%
5.89%
17.12%
9.46%
23.71%
311,468
348,861
350,201
349,777
318,820
272,775
373,559
394,619
404,633
367,352
348,601
331,482
△ 15,391
△ 14,602
△ 15,215
△ 15,574
△ 15,767
△ 18,738
△ 19,176
△ 19,709
△ 14,443
△ 11,700
△ 11,179
△ 16,019
△ 13,880
△ 13,811
△ 12,971
△ 9,491
△ 10,248
335,620 306,573 281,809 239,249 278,233
△ 8,015 △ 5,155 △ 3,547 △ 2,516 △ 1,123
326,187
1,468
329,716
1,442
1.25
-
1.24
-
-
-
1.19
1.58
(Ordinary Income)
(Net Income)
1.57
1.46
1.53
-
(Total Assets)
1.34
1.34
(Total Assets)
Dividened/share (yen)
55,245
221.73
1.18
1.49
(Net Income)
207
220
275
311
319
26
28
28
30
30
204
248
303
341
349
831,638
961,419 1,203,183 1,132,348
837,949
109,180
124,120
127,865
111,969
83
940,818 1,085,539 1,331,048 1,244,317
838,032
659,447
811,439
973,758
966,226
713,084
132,356
146,408
153,259
139,119
110,938
791,803
957,847 1,127,017 1,105,346
824,022
149,015
127,692
204,030
138,970
14,010
61,039
66,335
74,381
67,367
66,085
87,976
61,356
129,648
71,603 ▲ 52,074
3,213
5,696
6,547
4,962
2,723
1,572
1,642
1,120
0
2,590
1,763
2,004
1,643
2,427
5,804
9,032
10,193
7,727
5,150
4,336
4,228
5,105
6,181
7,797
129
379
742
2,233
8,869
13,138
11,170
244.00
(Operating Revenues）
(Operating Income)
(Operating Revenues）
(Operating Income)
(Ordinary Income)
'06 Mar.
1.39
1.41
1.30
2.21
1.28
1.66
1.34
2.66
1.33
2.21
1.34
2.21
3.59
-
1.41
0.88
2.18
-
1.65
1.20
2.11
-
1.44
1.53
1.63
1.63
1.69
399,026
18,121
7,065
376,780 288,602 291,652 300,366
9,322 △ 7,505 △ 3,975
6,884
4,893 △ 6,304 △ 2,260
1,777
3,279 △ 1,346 △ 6,953 △ 6,019 △ 2,009
327,856
0.0
328,925
0.0
332,692
0.0
316,538
0.0
303,906
0.0
355,085
13,453
363,942
5,622
5,182
3,044
1,045
3,224
301,968
0.0
310,498
0.0
384,257
8,731
1.67
592,522
▲ 5,182
629,864
▲ 7,749
1.38
1.92
1.36
1.57
1.33
1.68
1.34
1.60
1.32
1.47
1.27
2.30
1.27
1.48
1.24
1.28
1.26
1.27
1.27
1.55
1.27
2.18
1.25
1.45
1.30
2.91
1.32
-
1.28
1.41
1.32
-
1.36
-
1.29
70.04
1.02
1.78
1.20
3.48
1.05
0.74
0.67
0.53
1.29
1.69
1.24
0.43
1.68
1.71
1.44
1.59
1.26
1.36
1.23
1.22
1.53
1.61
2.00
2.04
1.42
1.41
2.89
40.58
-
1.15
1.24
-
2.10
-
1.69
2.13
2.19
2.23
2.16
2.12
2.13
2.06
1.92
1.69
1.61
1.57
1.74
1.79
1.95
328,123
12,788
348,613
12,281
379,602
17,171
385,482
12,766
362,029
16,809
424,021
24,444
449,157
8,299
499,791
19,843
584,957
55,068
658,699
85,288
742,568
56,678
1,719
1,181
△ 588
3,615 △ 1,280 △ 2,457
988
53
9,827
1,593
6,949
1,811
10,258
2,244
8,233
3,015
11,133
4,042
21,582
4,532
7,115
2,786
16,434
6,535
49,670
24,452
86,873
49,012
57,849
38,820
31,941
25,250
88,422
58,938
253,502
0.0
245,896
0.0
255,032
0.0
258,367
3.0
241,432
3.0
242,278
4.0
241,295
5.0
259,200
3.0
269,140
5.0
329,965
10.0
376,344
16.5
481,541
18.0
518,500
18.0
541,450
26.0
300,579
0.0
279,380
0.0
857,278 1,063,705
28,103
89,715
516,000
▲ 6,014
14,973
13,961
▲ 48,955
28,589
15,584
16,286
15,767
12,008
▲ 49,138
32,867
5,123
7,585
▲ 1,053 ▲ 13,432
11,902
1,575
2,710
▲ 41,351
10,669
1,066,648 1,180,433
1.37
1.88
334,859
7,319
439,621
△ 1,219
19,348
16,085
▲ 66,272
47,350
17,782
7,900
47,865
5,041
▲ 96,355
50,209
3,846
5,297
▲ 34,131
13,002
2,650
1,306
▲ 68,721
30,603
1,043,884 1,032,505
1.34
1.53
335,758
2,363
317,388
0.0
372,516
5,846
1.32
2.62
'13 Mar.
316
288
288
29
26
27
345
314
315
890,921
859,202 1,004,945
94,163
113,108
129,825
985,084
972,310 1,134,771
748,012
817,051
880,475
113,984
129,811
158,743
861,996
946,863 1,039,218
123,088
25,447
95,552
64,478
66,010
80,666
58,609 ▲ 40,563
14,886
2,749
4,078
4,513
101
546
2,381
1,974
1,955
20,768
4,825
6,581
27,664
8,564
9,261
12,262
7,521
5,711
1,699
1.83
1.78
1.91
2.05
960,108
631,747
24,612 ▲ 59,462
772,321
737,994
41,656 ▲ 49,375
834,217
▲ 7,017
20,762 ▲ 53,731
799 ▲ 56,949
41,162 ▲ 48,748
24,620 ▲ 37,044
13,643
▲ 4,168
498,021
13.5
569,028
0.0
580,087
9.5
557,862
0.0
575,488
2.5
*1: Basically those figures are quoted from annual security report ('Yuka Shoken Hokokuisho'), which is mentioned by the million, and figures are rounded to the nearest million till 122nd, and rounded down, thereafter.
37
9. Panama Canal Expansion Program
【The Panama Canal 】
The Panama Canal is approximately 80 kilometers long
between the Atlantic and Pacific Oceans and the Canal is
composed of three locks and lakes.
The Canal today has two lock lanes. The plan consists of
adding a third lane with large locks including dredging
etc, in order to make it possible for large containership
more than 12,000 TEU size to transit the canal. It is
scheduled to be completed during end 2014 - 2015.
the Atlantic
■ Cristobal
Gatun Locks
New Atlantic Locks to be located
at east current GatunLocks
Gatun Lake
■Maximum ship which can pass
current canal (Panamax)
Beam:　32.3ｍ
LOA:　294.1ｍ
Draft:　12.04ｍ
Pedro Migel Locks
■Maximum ship after completion of third lane.
(present plan)
Miraflores Locks
Beam:　49ｍ
LOA:　366ｍ
Draft:　15.2ｍ
■ Panama City
■ Balboa
the Pacific New Pacific Locks to be located
（see drawing below）
at south west current Miraflores
Locks
★How much is the Panama Transit Fee ? ★
⇒it varies so much by ship type and size,
■ In case of 4700TEU Containership(Panamax)
⇒ About $ 380,000/per transit （as of 2012）
*Transit fee as of 2003 was abount $130,000/per transit and it has increased three
times more than that time. Further price hike is big problem for shipping industry.
⇒For further information, please check website of The Panama Canal Authority (ACP)
http://www.pancanal.com/eng/expansion/index.html
38
①World Population Prospects
million
9000
8000
Others
7000
Europe
6000
South America
5000
unit：1000 mil US$
②　GDP
Northern America
4000
Africa
3000
South-Eastern Asia
2000
India
1
2
3
4
5
6
7
8
9
10
2010
USA
China
J apan
G ermany
France
UK
Italia
Brazil
India
Canada
1 4 ,6 1 2
5 ,8 6 0
5 ,4 6 5
3 ,2 9 2
2 ,6 0 2
2 ,2 5 9
2 ,0 4 4
1 ,9 8 9
1 ,5 9 6
1 ,5 7 2
2010
Source：Citi Group Feb.2011
1
2
3
4
5
6
7
8
9
10
2030
5 7 ,1 3 8
3 5 ,7 3 9
2 4 ,8 2 4
9 ,2 1 3
8 ,7 8 0
7 ,3 8 0
7 ,2 9 9
6 ,4 6 6
5 ,8 1 9
5 ,2 3 6
China
USA
India
J apan
Brazil
Russia
Indonesia
G ermany
UK
France
2030
Status Quo
China
1000
0
Source: United Nations, Department of Economic and Social Affairs World Population Prospects: The 2012 Revision
③　Consumers’ expanding purchasing power in ASIA
Source：Lloyd’s Register Global Marine Trends 2030
Total annual expenditure
(trillion $2010 PPP)
Source: ADB / LR
285 people
joining the middle class
every minute
8 times the
purchasing power in
developing Asia will rise
between 2010 and 2030
39
④　Automobile Market
14000
13000
Automobile Market will　⑤　Results and Proepect of Marine Transportation Cargo Volume
（unit ：mil ton）
expand further mainly
Iron Ore (Increased by 100% from 2012 to 2029)
in Emerging Country
Crude oil (Increase by 40% from 2012 to 2029)
as China and India
Unit:10,000 cars
Actual Sales Results
12000
Prospect
Coal (Increase by 50% from 2012 to 2029)
Natural Gas (Increase by 50% from 2012 to 2029)
11000
10000
China
9000
8000
6000
Grain (Increase by 40% from 2012 to 2029)
There's one car for every 17
people in China and one car
for every 69 people in India as
of 2010 (Source : FOURIN
2012)
India
Asia
7000
Oil Product (Increase by 40% from 2012 to 2029)
Emerging Country ：
Others incl Containers (Increase by 100% from 2012 to 2029)
5000
4000
3000
1000
0
1992
1995
2000
出典: FOURIN 2012
2005
2010
2015
mb/d
⑥　Production of Deepwater Crude Oil
9.0
DOUBLE
8.0
7.0
2020
8.5
8.2
20%
7.4
8%
9%
7%
6%
8%
4%
2%
0.0
0%
2005
2011
270
Total platforms
in 2010
618
2010
Total platforms
in 2030
2030
10%
6%
3%
1.0
Prospect
12%
8%
5%
Floating oil and gas platforms
16%
14%
4.0
2.0
Global Insight
18%
4.4
2.4
2023
（Mil bbl/day）
5.6
5.0
Possibility of market shrinking
in countries with aging and
depopulation society (Source:
FOURIN2012）
Source:Japan MLIT Website Seminer material as of 6th/March 2013"FTA's impact on Marine Transportation"
6.5
6.0
3.0
Developed Country ：
Europe
Northern
America
2000
2015
2020
Production
2025
2030
2035
Product share in global crude
production
Status Quo
Competing Nations
Global Commons
40
11. "K"Line Overview　<11-1. Corporate Governance System>
///Promotion of Compliance///
Chart: "K"Line Corporate Governance System
◎Group-wide efforts for developing a compliance system
・We have installed a Compliance Committee chaired by the president that discusses strategies and
countermeasures to ensure compliance is maintained throughout the entire Group.
・We have also installed a dedicated division (CSR & Compliance Division) to enhance awareness on
compliance to executives and regular employees through training courses and other activities.
未update
◎Compliance Month
・To increase the thoroughness of our Group’s compliance even further, we began designating a Compliance
Month, starting in FY2011. During this month, we carry out various awareness-raising activities such as holding
seminars for the management of our company and Group companies and sending notices out to Group
companies.
・Spreading awareness about the UK Bribery Act throughout
the Group in Japan and overseas.We also provided training courses on competition laws, including the
Antimonopoly Act of Japan and the European Union Competition Law.
◎Response by the Compliance Committee
・If an alleged compliance violation has occurred, the issue is referred to the company’s Compliance Committee
which sets out the procedures to be followed, the Compliance Committee conducts an investigation and then
issues instructions to correct or cease the violation. If the issue concerns “K” Line, the Executive Officer in
charge of personnel affairs will propose any disciplinary action to be taken under the working regulations.Under
the “Rules on Operation of Compliance Committee,” the Compliance Committee is obliged to keep strictly
confidential the names of whistle-blowers and the details of deliberations including the name, departments, or
any other information that would permit identification of the persons involved in the matter, and permits them to
consult with attorneys.
◎Investigating awareness of the Hot Line System
・We have introduced a whistle-blowing system called the “Hot Line System.” In addition to an internal contact,
we have also appointed lawyers as external contacts.
◎Initiatives for protecting personal information
・We have developed a set of privacy policies and a personal information management code. We also
undertake related training and education to further refine our system for protecting personal information.
<Structure of Business Operation> Striving to improve corporate value under a governance structure
We apply the Executive Officer System, under which we streamline our management through the transfer of authority and prompt decision-making.
Board of Directors
The Board of Directors meets at least once every month. At the Board, our Directors make decisions on basic management policies, matters stipulated by laws and regulations, and other
significant management issues. They also supervise the performance of duties by Executive Officers and our staff members. Of the 13 Directors, two are Outside Directors stipulated by the
Companies Act of Japan.
Executive Officers' Meeting
This Meeting is held twice a month, in principle, and is attended by Executive Officers and Auditors. Participants help the President to make decisions through frank discussions, in addition to
sharing information and ensuring compliance.
Auditors / Board of Auditors
Three of the five Auditors are Outside Auditors specified in the Companies Act of Japan. The audit policy, audit plans, and other related matters are determined by the Board of Auditors,
aiming for a fast, functional auditing process. Among other activities, auditors attend meetings of the Board of Directors and other important meetings and inspect documents showing final
decisions, auditing the work of Directors as an independent organization. We also appoint dedicated staff to assist auditors.
Management Conference
The Management Conference holds discussions and exchanges opinions every week, in principle, and is attended mainly by Senior Managing Executive Officers and higher-level Executive
Officers. Depending on the agendum, others may be invited to the Conference.
41
11-2. Safety in Navigation and Cargo Operations
Safety Operation - The Key Element of a Shipping Business.
Establishing and maintaining safety in navigation and cargo operations, environmental preservation, and economically efficient operations are the permanent missions of the "K" Line Group in its shipping business. Above all, safe
navigation and cargo operations are the foundation of our business. For this reason, we are committed to building a secure system for establishing and maintaining this foundation.
In "K" LINE Vision 100, the medium-term management plan we developed in April 2008, we once again defined that a secure system for managing safety in navigation and cargo operations is at the core of all of our business activities.
We subsequently reviewed the medium-term management plan and adopted "K" LINE Vision 100 Bridge to the Future in April 2012 , in reviewing the Plan, we reconfirmed that establishing a system for safe navigation and cargo
operations, with the continuous effort to environment preservation, was an absolutely critical and inalterable requirement.
Ship Safety as the Pillar of Management
The Ship Safety Promotion Committee embodies the comprehensive and systematic measures we take to ensure safety in navigation and cargo operations. It
was established in 1983 as an internal committee, and its activities later encompassed Group companies responsible for ship management. The main tasks of this
Committee, which meets every quarter, include aggregating defect reports during the period under review, analyzing their causes, and developing necessary
responses. In addition, the Committee acts on all safety-related matters from every possible viewpoint, such as responding to international treaties, sharing new
technical information, and recently considering measures against piracy in the Gulf of Aden, etc.
Supporting People's Lives and Industrial Activities
Among the many modes of transport, ocean transport plays an important role in international trade, as it ensures the economical transportation of large volumes of
freight for long distances. In Japan's foreign trades, for example, ocean transport is used for as much as 99.7% of all cargo in weight basis., which include sources of
energy such as crude oil, LPG, LNG, and coal, raw materials including iron ore, gypsum, feed, and grain, and consumables such as automobiles and home electric
appliances. Ocean transport is an extremely important part of the logistics infrastructure to carry these essential goods for people's lives and industrial activities. .
Activities for maintaining safe navigation and cargo operations are designed to deliver cargo that we are entrusted safely and reliably to customers as well as to
ensure the safety of crew members and ships. These activities are also essential for maintaining the international logistics infrastructure, and so constitute part of
our social responsibility. We never forget this fact in our daily work.
Safety Management System （SMS）
SMS is a system required by law. It is aimed at securing safe systems and environments for work during ship operations, establishing preventive measures for all
predictable dangers, and continuously improving the safety management skills of both shore staff and crew members, including skills in preparing for emergencies
related to safety and environmental preservation. At the "K" Line Group, we not only comply with the provisions of SMS, but also make additional efforts based on
our own standard to establish a system for managing safety in navigation and cargo operations.
Emergency Response Drills: Always Ready for Emergencies
What should our Company or employees do if a ship has been involved in a collision and fuel oil is spilling, for example? We have set out the actions we need to take in such
an emergency in our Emergency Response Manual. Based on this manual, we regularly conduct emergency response drills to maintain and improve the response capabilities of
staff members and departments. We conducted our latest drill in February 2013 by assuming a large-scale oil spill and confirmed the functions of the manual. We also
discussed issues on the application of the manual at a meeting after the drill so that we could refine it. The Emergency Response Manual contains the know-how we have
accumulated through drills, and we are tackling further safe operation of ships each day to ensure that we never have to actually use the manual.
Efforts for Eradicating Piracy: Resolutions and Measures Taken by the Global Community
Education and Training Programs: "K" Line Maritime Academy (KLMA)
The KLMA is the aggregate of training facilities in Japan and overseas, providing educational,
training, and development programs including crew training programs and career path programs.
We train crew members to operate ships managed by the "K" Line Group based on the "KLMA
Master Plan," a plan designed to pass on to the next generation the "K" Line Group's maritime
technologies accumulated over many years since our establishment. In this way, we strive to
build an awareness of our safety standards, safety in navigation and cargo operations, and
environmental preservation, improve our maritime technologies, and pass them on to future
generations.
In recent years, heavily armed pirates have appeared off the coast of Somalia and in the Gulf of Aden, vital link between Europe and Asia,
and further in the Arabian Sea, the waters which link the Persian Gulf and Asia. In response, the United Nations Security Council passed
a resolution that called for uncompromising action against this turpitude, and the International Maritime Organization has also passed a
resolution requesting for nations to take necessary measures to eliminate piracy. Based on these resolutions, international naval forces,
including Allied Powers in Europe, navies of other nations, and the Japan Maritime Self-Defense Force (MSDF), have begun to provide
escort for ships passing through the area. Marine Safety Officers of Japan Coast Guard with police authority are onboard the MSDF
escort ship to enforce laws against illegal action by the pirates. In principle, we operate under the security provided by these forces. We
have also developed guidelines for sailing near Somalia and in the Arabian Sea to ensure the safety of our ships. If we should encounter
pirates, we take evasive actions following Best Management Practice in anti-piracy measures.
42
11-3. Environment Preservation
The seas are the stage where our industry comes into play. It brings various benefits to humanity with ships that are an energy-efficient and eco-friendly mode of transportation. We are required to
defend the earth, to make best use of its limited resources and to promote recycling.
Respecting and defending humanity´s beautiful and rich homeland is a social responsibility businesses must fulfill and also is an important homework assigned to us who are living in the 21st century.
"K" LINE and its entire Group have long been tackling environmental preservation/protection issues simultaneously with our pursuit of perfection in safe navigation and cargo operations.
We established "K" LINE Group´s Environmental Policy in order to further assure that all people within and outside the Group are well aware of how we are poised to effectively focus on
environmental matters.
"K"LINE Group's Environmental Policy
Core Concept
The “K” LINE Group is aware and recognizes that addressing environmental concerns is an issue shared by
all mankind. Therefore, the “K” LINE Group is taking proactive measures as an essential condition for its
existence and conducting a business enterprise, striving to reduce the environmental impact of its business
activities, and seeking to contribute to the development of a sustainable society.
In October 2001, we structured and commenced operation of "K" LINE’s own
Environmental Management System (EMS), and were awarded ISO14001
Certification for our EMS by Nippon Kaiji Kyokai (ClassNK) on February 26,
2002. Our EMS embraces the entire scope of marine transportation services in
all "K" LINE sectors and branches in Japan as well as three ship management
companies ("K" Line Ship Management Co., Ltd., Taiyo Nippon Kisen Co., Ltd.
and Escobal Japan Ltd.) KLine (Japan) Ltd., Kawasaki Kinkai Kisen Kaisha, Ltd.,
Nitto Total Logistics Ltd. (Terminal Dept.) are involved in the program. (Present
certification is valid until Feb.25, 2014).
Conduct Guidelines
As EMS encompasses all marine
1. We are setting objectives and targets for environmental preservation and making improvements on an
transportation services, its importance is
directed to not only ship management itself
ongoing basis to reduce the impact on the environment from our business activities. Furthermore, we are
but also ship operations and deployment
complying with all environmental treaties, laws and regulations as well as policies and voluntary standards
planning. In cooperation with each group
to which the “K” LINE Group has consented.
company concerned, "K" LINE is tackling all
environmental issues covering marine
2. We are striving to protect the global and marine environment through fleet-wide implementation of
transportation business from the widest
safe operation practices and are establishing the organizations and structures necessary for such
possible perspective.
implementation.
From 2004, we started publishing our own
"Social & Environmental Report" that
3. We are promoting research, development and introduction of ship facilities and equipment to improve
information about Corporate Social
ship energy efficiency and operating efficiency, which results in reduction of greenhouse gas emissions and contains
Responsibility. (till 2003 "Environmental
the prevention of atmospheric pollution.
Report"only.) If you are further interested in
how we are tackling environmental
4. In consideration
of
biodiversity,
we
are
maintaining
an
awareness
of
the
impact
that
the
transport
of
preservation, we invite you to look through
ballast water and living organisms that attach to ship hulls have on ecosystems and working to protect
it. "Social & Environmental Report" may
those ecosystems.
also be accessed on our website.
5. We are contributing to establish a recycle-based society by promoting the 3Rs (reduce, reuse and
LNG-Powered Vessel Development Project
recycle) and promoting the effective re-use of resources, including ship recycling.
6. The entire “K” LINE Group is and will continue to support and participate in social contribution activities We are now attempting conversion to a ship propulsion method that will
enable substantial reductions in greenhouse gases in exhaust and
intended to protect the environment.
environmentally destructive substances.
7. We are conducting education and training to elevate awareness and understanding of environmental
This involves the development of ships
that use as fuel liquefied natural gas (LNG),
preservation issues among each member of the entire “K” LINE Group.
considered a clean energy source.
Revised in August 2012
43
11-4. Approach to Ballast Water Management
Ｃｏｎｔａｉｎｅｒｓｈｉｐ
Dry Bulker
☆ Ballast Water
Sea water used as weight to sink hull into the sea for necessary draft to stabilize it
mainly during navigation without cargo.
【Traditional Way】
Ballast TankBulker
Source : The Japanese Shipowners'
Association
During discharging cargo at ports, pump in ballast water, and out the water during loading cargo at ports
「Shipping Now 2012-13]
Risk that aquatic organisms in ballast water profoundly affect ecological system around loading ports as alien species
（ex.: Japanese seaweed bred in coastal area of Australia, etc.）
【Ballast
【Current Way】
During navigation on the open sea, replace ballast water
(For some types of vessels, ballast-free-design hull form was developed)
Water Management System Approved by IMO】
Process
Flow of Processing
・loading ballast water
Loading ballast water into ballast tank after
sterilization by Filteration and UV Reactor.
Feature
・No need for Chemical and self-inclusive
method on board.
・Using a lot of electricity.
Filteration +
UV Irradiation
Ballast Water Management Convention
2004
The IMO developed and adopted “The International Convention for The Control and Management
of Ships Ballast Water and Sediments, 2004” (Ballast Water Management Convention)
The convension requires that equipped the ballast water management system in vessels' hull to
reduce aquatic organisms in ballast water before discharging the ballast.
Article 18 : The convention will come into effect 12 months after 30 countries representing a combined total gross tonnage of more than 35% of the world’s merchangt fleet have ratified it.　(as of July 2013, not effective yet because combined tonnage has not reached 35%)
＜Beginning Time of Application＞
Current ＩＭＯ principle：For newbuildings, basically ships laid down* after 2012 （some ship types excepted）
All commercial ships including existing ships must be euipped by 2020 as a general rule.
↓
ＩＭＯ revised plan（to be deliberated in IMO Assemply in November 2013）
⇒ Application schedule varys according to period when the Convention becomes effective
For newbuildings, basically ships laid down* after the convention being effective (some ship types excepted）
Existing ships must be equipped by 2022 when the Convention comes into effect by 2016 as a general rule.
U.S. Alternative Management System
by USCG (U.S. Coast Guard)
Filteration +
Electrolysis
Started concrete feasibility study of U.S.rule for vessels calling and potential calling at U.S.
despite effective date of Ballast Water Management Convention by IMO
* "Ships laid down" includes ‘Ship construction’ which refers to a stage of construction where:
• the keel is laid or construction identifiable with the specific ship begins; and
• assembly of the ship has commenced comprising at least 50 tonnes or 1% of the estimated mass of
all structural material, whichever is less.
sterilization by Filteration and Electrolysis.
・Need for care separately because
electrolysis is impossible in fresh and
brackish water area.
・discharging ballast water
Discharging ballast water after putting
neutralizer if needed.
・Require careful handling of hydrogen gas
released by electrolysis.
・Using middle electricity.
sterilization by Electrolysis.
Electrolysis
sterilization by Filteration and Chemical
Injection.
※　To be applied to ships calling at U.S.
Apart from ＩＭＯ, USCG established similar homogeneours rules:
⇒Effective in June 2012; For newbuildings, ships laid down* after December 2013*.
Existing commercial ships must be euipped by 2021 as a general rule.
Discharging ballast water after sterilization by
UV Reactor again.
Filteration +
Chemical Injection ・discharging ballast water
・Need for care separately because
electrolysis is impossible in fresh and
brackish water area.
・Require careful handling of hydrogen gas
released by electrolysis.
Alfa Laval
Optimarine
Panasia
Hyundai Heavy Industry
MAHLE Industrial Filtration
Hyde Marine
Wuxi Brightsky Electronic
Aura Marine
Wartsila Water System
Ocean Saver
RWO
SunRui Marine Enviroment
Enginering Company
Hyundai Heavy Industry
Seven Trent DeNora
Samsung Heavy Industry
Erma First
Sweden
Norway
Korea
Korea
Germany
ＵＳＡ
Korea
Finland
Netherlands
Norway
Germany
Techcross
Korea
JFE Engineering
Japan
Ecochlor
ＵＳＡ
Kuraray
Japan
Korea
China
Korea
ＵＳＡ
Korea
Greece
・Using middle electricity.
・Continuous arrangement of chemicals is
needed.
・Require careful handling of chemicals.
・Using low electricity.
Ozonation
sterilization by Ozonation.
・Require careful handling of Ozone.
・Using rather a lot of electricity.
NK
-
-
Others (Omission) -
・A lot of equipment configuration.
Source : Compiled by "K" Line based on Class NK website,etc.
Manufacture
44
45
11-5. Brief History
Line of Presidents in "K"Line and Brief History
Company
Name
President
AD
Japanese
Calender History
（Kawasaki
1837 Tenpo 8 Born in Kagoshima
1853 Kaei 6 Started trading business in Nagasaki
Heavy
1878 Meiji 11 Established Kawasaki Tsukiji Shipyard in Tsukiji, Tokyo
Industries)
1881
14 Established Kawasaki Hyogo Shipyard in Hyogo
29 Incorporated Kawasaki Dockyard Co., Ltd.
1896
37 Started marine trasportation business, under name of KAWASAKI Marine
1904
Freight Department.
Kawasaki Kisen Kaisha Ltd.
1 Yoshitaro Kawasaki 1919 Taisho 8 Official registration of 'Kawasaki Kisen Kaisha, Ltd.', started business with the name
2 Kojiro Matsukata 1920
9
〔1〕
10 'Kawasaki Kisen', tying up 'Kawasaki Marine Freight Department', and
1921
（"K"Line）
'Kokusai Kisen' formed "K"LINE.〔2〕
1927 Showa 2 'Kokusai Kisen' disengaged from "K"LINE
3
3 Fusajiro Kashima 1928
4 Hachisaburo Hirao 1933
8
9 'Kawasaki Marine Freight Department' liquidated.
'Kawasaki Kisen' became the only operator for "K"LINE.
10
5 Masasuke Itani 1935
6 Koichi Kimishima 1946
21
1948
23 Succeeded refloatation of KIYOKAWA MARU, sunk during the war.〔3〕
25
7 Motozo Hattori 1950
1951
26 Japan/Bangkok liner service inauguated.
1953
28 Started independent oil transport service (with vessel 'Andrew Dillon'）
1960
35 Iron ore carrier "FUKUKAWA MARU" is completed.
1964
39 Japanese shipping industry consolidated into six groups. "K"Line merged with Iino Kisen〔4〕
1968
43 "K"Line's 1st full-container ship "GOLDEN GATE BRIDGE"delivered.　"TOYOTA MARU NO.1"（'Car Bulker'）delivered
8 Mamoru Adachi 1970
45 "TOYOTA MARU NO.10", the first Pure Car Carrier in Japan delivered
51
9 Kosuke Okada 1976
10 Kiyoshi Kumagai 1980
55
1983
58 "BISHU MARU", the first LNG carrier in Japan completed
60
11 Kiyoshi Ito
1985
12 Hiroshige Matsunari 1988
63 "Manhattan Bridge"started service with 11crew as the first Japanese 'pioneership'.
13 Shiro Nagumo 1992 Heisei 4
1993
5 "K"Line Reengineering Program (K.R. Program) launched.
6
14 Isao Shintani 1994
1996
8 "K" Line Re-engineering Phase II (K.R. PHASEⅡ) started
10 A 5-year management plan, New"K"Line Spirit for 21 (New K-21) established
1998
Resumption of dividend for the first time in 15 years
12
15 Yasuhide Sakinaga 2000
2002
14 A 3-year management plan "KV-Plan" formulated.
16 New management plan "K"LINE Vision 2008 adopted
2004
17
16 Hiroyuki Maekawa 2005
+
2006
18 Newｌｙ developed management plan "K"LINE Vision 2008 started
2008
20 Newｌｙ developed management plan "K"LINE Vision 100 started
22 Newly refomed management plan "K"LINE Vision 100 KV2010 started
2010
22
17 Kenichi Kuroya 2010
2011
23 Newly refomed management plan "K"LINE Vision 100 "New Challenges" started
18 Jiro Asakura 2011
23
2012
24 Newly refomed management plan "K"LINE Vision 100 "Bridge to the Future"
Dockyard)
Shozo Kawsaki
(ex. Kawasaki
〔1〕Kawasaki Kisen inauguration Aim to one of the major international shipping companies along with NYK and MOL using stock boats prepared
originally for extra demand by World War I.
〔2〕“K” LINE formed
Operation in the same flag, funnel mark, and trade name
〔3〕KIYOKAWA MARU
Our symbol of recovery from World War Ⅱ; reflotation of KIYOKAWA MARU
〔4〕Shipping industry consolidation Depression after boom in shipping by Korean War and closure of the Suez Canal - measures to strengthen
shipping industry by the Japanese government
45
46
11-6. Press Releases for FY2012 （Apr.2012～Mar.2013）
For details, please visit the following website: （http://www.kline.co.jp/en/news/index.html）
2-Apr-12
“K” Line Reverses Loss from Revaluation of Investment Securities in the Fourth Quarter of Consolidated Year Ending March 31, 2012
6-Apr-12 "K" LINE Continues to be Included in FTSE4Good Global Index
11-Apr-12 “K” Line Upgrades Asia – Mexico/West Coast South America Service
17-Apr-12 “K” Line Sets New Target to Reduce CO2 Emissions
20-Apr-12 “K” Line Service Ranked 1st Place in 6 out of 11 Categories in Shipper Sentiment Survey
27-Apr-12 Change of Directors
27-Apr-12 Review of Medium-Term Management Plan
8-May-12 First Class of “K” Line Students Graduate from Crystal e-College
9-May-12 CKYH Alliance to Restructure Asia – U.S. East Coast Services
16-May-12 Ultra-Deepwater Drillship Now in Operation in Petrobras Pre-Salt Oil Field off Brazil
22-May-12 Renewal of Plan on Countermeasures to Large-Scale Acquisitions of Company Shares (Takeover Defense Measures)
7-Jun-12 ”K” Line Receives Port of Long Beach Green Flag Award for 7 Consecutive Years
13-Jun-12 “K” Line and Noble form Joint Venture
13-Jun-12 Cooperation with Rescue of Small Boat in Distress
20-Jun-12 Cristal e-College Receives Approval from Ministry of Land, Infrastructure, Transport and Tourism Japan under new Certification Program
2-Jul-12 Notice Concerning Issuance of New Shares, Secondary Offering of Shares and Subordinated Loan Financing
2-Jul-12 "K” Line Posts Loss from Revaluation of Investment Securities in First Quarter FY2012
18-Jul-12 Notice of Adjustment of Conversion Price for ¥30,000,000,000 Zero Coupon Convertible Bonds due 2013
1-Aug-12 “K” Line - Containerships Services On-Time Arrival Performance Report
27-Aug-12 CKYH-the Green Alliance Winter Service Adjustment on Asia-North Europe service
18-Sep-12 “K” Line Maritime Academy (Philippines) Ship Simulator and Bridge Teamwork Training Course Certified by Class NK
28-Sep-12 "K" LINE Continues to be Included in FTSE4Good Global Index and Dow Jones Sustainability Index
31-Oct-12 Difference in Financial Results from Projections, Revised Forecast of Financial Results and Resolution to Pay No Interim Dividend
6-Nov-12 Voyage Cancellation Plan for Asia-Mediterranean Loops in Winter Season
12-Dec-12 Additional Voyage Cancellation Plan for Asia-North Europe and Mediterranean Loops in Winter Season
27-Dec-12 “K” Line Supports Typhoon Victims in The Philippines
4-Jan-13 “K” Line Reverses Loss from Revaluation of Investment Securities in Third Quarter of Consolidated Year Ending March 31, 2013
4-Jan-13 2013 New Year Message from President Asakura
28-Jan-13 "K" Line Enhances JABCO Services
7-Feb-13 Triple Decker Motorcycle Carrier has Landed in India
8-Feb-13 Shipping Industry Provides Funding to UNDP Job Creation Initiative in Somalia
15-Feb-13 Conduct Emergency Response Drill
15-Feb-13 “Satoyama” Project with academic-industry partnership
22-Feb-13 "K" Line Enhances JASECO Services
1-Mar-13 NEW Mobile and PC Global Container Tracking Service
11-Mar-13 CKYH – the Green Alliance to reorganize service network for Asia-North Europe and Asia-Mediterranean trades in 2013
18-Mar-13 “K” Line Decides to Deploy New Generation Eco-Friendly ULCVs　(Ultra Large Container Vessels)
19-Mar-13 “CKYH” to restructure Asia-U.S. East Coast services
21-Mar-13 Actual Ship Onboard Test of SCR System for Diesel Generator Started on 8,600TEU New Container Ship “HANOI BRIDGE”
29-Mar-13 “K” Line to enter Long-Term Time Charter and Construction of LNG Carrier to serve Chubu Electric
46
47
11-7. Certification by Third-party Organization and Information on Convertible Bonds/Ratings
Certification by Third-party Organization on CSR /Environment
Environmental Management System ISO14001
Scope of Application : Marine Transportation Services
Quality Management System ISO9001 (Ship Planning Group,
"K" Line Ship Management Co.Ltd. New Building Group)
Scope of Application : Planning, Development and Determination Business of
Specification for New Shipbuilding, Approval Business of Plan and Drawings,
Supervision Business in Shipyard
FTSE４ Good Index Series
ＦＴＳＥ（joint venture between The Financial Times and London Stock
Exchange), a UK based famous global index company, has included our company
for their SRI (Socially Responsible Investment) index FTSE4 Good Index series
since Mar 2003.
Rating Information (for Long-term Bonds)
R&I
JCR
S&P
1996
BBB-
1997
BBB
BB
1998
BBB
BBB+
BB
1999
BBB
BBB+
BB
2000
BBB+
BBB+
BB+
2001
BBB+
BBB+
BB+
2002
BBB+
BBB+
BB+
2003
BBB+
ABB+
2004
AA
BB+
2005
AA
BBB-
2006
AA
BBB-
2007
AA
BBB
2008
A
A
BBB
2009
AABBB-
2010
AABBB-
2011
BBBBBB+
BB
2012
BBBBBB+
BB-
Issued Convertible Bond Information
Date of Issue Issued Amount
Coupon
4 April 2005 30 bil. Yen zero-coupon
Conversion Price
851yen/share
Maturity Date
4 April 2013
Capital Increase through a Public Stock Offering
Date of Offering Total Amount Issue Price
Number of Shares
12 Feb 2010 38 bil. Yen \316 per share 126.5 mn shares
2 Jul 2012 20.8 bil. Yen \125 per share 174.0 mn shares
Result in Dilution
19.80%
22.73%
*Conversion price after adjustment
as of 19th/July 2012 is 832.4
yen/share.
47
４8
11-8. Corporate Principles, Charter of Conduct, etc.
"K" LINE established its Corporate Principles and Vision, which promises the formation of a stable business
base for the "K"LINE Group, in the management plan that was initiated from April 2004.
The basic principles of the "K" LINE Group as a shipping business organization centering on shipping lie in:
a.) Diligent efforts for safety in navigation and cargo operations as well as for environmental preservation:
b.) Sincere response to customer needs by making every possible effort; and
c.) Contributing to the world’s economic growth and stability through continual upgrading of service quality.
1 To be trusted and supported by customers in all corners of the world while being able to continue to
grow globally with sustainability,
2 To build a business base that will be capable of responding to any and all changes in business
circumstances, and to continually pursue and practice innovation for survival in the global market,
3 To create and provide a workplace where each and every employee can have hopes and aspirations for
the future, and can express creativity and display a challenging spirit.
Charter of Conduct : "K" Line Group Companies
Kawasaki Kisen Kaisha, Ltd. and its group companies (hereinafter “K” Line Group) reemphasize that due respect for human rights and
compliance with applicable laws, ordinances, rules are the fundamental foundations for corporate activities and that group companies’
growth must be in harmony with society and therefore, in order to contribute toward sustainable development of society, we herein
declare to abide by “Charter of Conduct” spelled out below:
1. Human rights
The “K” Line Group will consistently respect human rights and well consider personality, individuality and diversity of its corporate
members and improve work safety and conditions to offer them comfort and affluence.
2. Compliance
The “K” Line Group promises to comply with applicable laws, ordinances, rules and other norms of behavior both in the domestic and
international community and conduct its corporate activities through fair, transparent and free competition.
3. Trustworthy company group
The “K” Line Group continues to pay special attention to safety in navigation, achieving customer satisfaction and garnering trust from
the community by providing safe and beneficial services.
4. Proactive environmental efforts
The “K” Line Group recognizes that global environmental efforts are a key issue for all of humanity and that they are essential both in
business activities and existence of the company and therefore we are committed to a voluntary and proactive approach to such issues
to protect and preserve the environment.
5. Protection, proper management and disclosure of information and communication with society
The “K” Line Group will protect personal and customer data, properly manage corporate information through timely and appropriate
disclosure, widely promoting bi-directional communication with society including shareholders.
6. Contribution to society
The “K” Line Group as a Good Corporate Citizen will make ongoing efforts to contribute to social development and improvement and
support employees’ voluntary participation in such activities.
7. Harmony in the international society
The “K” Line Group will contribute to the development of international society in pursuance of its business pertaining to international
logistics and related businesses, respecting each country’s culture and customs.
8. No relations with anti-social forces
The “K” Line Group will resolutely confront any anti-social force or organization which may threaten social order and public safety and
never have any relationship with them.
The management of each “K” Line Group Company recognizes that it is its role to realize the spirit of the Charter and takes the lead in an
exemplary manner to implement the Charter while setting up effective mechanics throughout the company. The management also seeks
cooperation from its business counterparts. The management, from the viewpoint of riskmanagement, sets up an internal system to
prevent incidents in breach of this Charter and should such an event occur, the management of respective “K” Line Group member
companies will demonstrate decisiveness to resolve the problem, conduct a thorough investigation to determine the cause and take
preventative measures. Additionally, such management will expeditiously and accurately release information and fulfill its accountability
to society.
Adopted December, 2006
Revised August, 2012
This Charter of Conduct is accompanied by "Implementation Guidance for Charter of Conduct", which we have posted in our HP.
（⇒http://www.kline.co.jp/en/csr/group/charter.html）
４8
Tonnage Tax, Change in Circumstances for Japanese Vessels and Japanese Seafarers
49
12.　Tonnage Tax
１．Basic Act on Ocean Policy (Enacted April 20, 2007, Effective July 20, 2007）
This act includes 'Securing Maritime Transport', which is :
(Securing Maritime Transport)
Article 20: The Government shall take necessary measures to secure an efficient and stable maritme transport, including the
securing of Japanese registered vessels, fostering and securing seafarers, developing hub ports as base for international
maritime transport network and others.
２．Revised Marine Transportation Law for Tonnage Tax System
（Enacted May 30, 2008, Effective July 17, 2008)
-Japanese ocean-going shippping companies that are approved by the Ministry of Land, Infrastructure, Transport and
Tourism (MLIT) can select taxation on deemed profit instead of normal corporate tax for earnings connected to
Japanese-registered vessels.
○Pattern Diagrams for Calculation of Tax
Marine Transport
Business ex.
Japanese vessels,
Japanese
registered
vessels
<Quoted from MLIT Website>
Original
・課税の計算方法は、船舶の純ﾄﾝ数ｘみなし利益ｘ運航日数ｘ
法人税率＝法人税額、となり
profit
Tax loss
Original
業績にかかわらず税額は一定となる。
related to
Profit
deemed profit
Japanese
vessels
Taxable profit
Original profit
(Case1)
Deemed profit
(Case2)
(Case1) Original profit related to Japanese vessels > deemed profit
The amount over deemed profit is counted in tax loss.
(Case2) Original profit related to Japanese vessels < deemed profit
The balance between original and deemed profit is counted in taxable profit.
(i.e., deemed profit = taxable profit)
３．First Approval of Plans to Secure Japanese Registered Vessels and Japanese Seafarers
Concerning Tonnage Tax
-As for applications for approval of plans to secure Japanese registered vessels and Japanese seafarers required under the
tonnage tax system, after review by MLIT, all 11 business operators that applied, as listed below including ourselves, met the
criteria and were approved by MLIT.
・【Business Operators (Alphabetical Order）】 Asahi Shipping Co., Ltd., Asahi Tanker Co., Ltd., Daiichi Chuo Kisen Kaisha,
Iino Kaiun Kaisha, Ltd., Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., Nippon Steel Shipping Co.,Ltd.,
Nippon Yusen Kabushiki Kaisha, Nissho Shipping Co.,Ltd., The Sanko Steamship Co., Ltd., Shinwa Kaiun Kaisha, Ltd.
【Outline of the Plan by above 11 Operators】
○
○
○
○
Duration of the Plan : 5 years (April 1, 2009 - March 31, 2014)
Ocean-going Ships Planned to be Secured by all 11 Operators : 77.4 => 161.8 (approx. 2.1 times)
Japanese Ocean-going Seafarers Planned to be Trained by all 11 Operators : 698 for 5 years
Japanese Ocean-going Seafarers Planned to be Secured by all 11 Operators : 1,072 => 1,162 (+90, approx. 1.1 times)
4．Expansion of Tonnage Tax after 2013
Outline of Expansion of Tonnage Tax.
Against a background of increasing importance of safe transportation by Japanese shipping firms through the Great East Japan Earthquake and
nuclear accident in Fukushima, the Tonnage Tax will be expanded to cover foreign vessels which are owned by foreign subsidiaries of Japanese
shipping firms and meet the necessary requirements by the Japanese government in 2013 Tax Reform.
Current System
New System
Period
2009-2013 (5 years)
2013-2017 (5 years)
Vessel
Japanese registered vessels
・Japanese registered vessels
･ Fore ign re giste re d ve sse ls th at are own e d by fore ign
su bsidiarie s of Japan e se sh ippin g firms (FOC)
Japanese Seafarer
4 Japanese Seafarer per 1
Japanese registered vessel
・4 Japanese Seafarer per 1 Japanese registered vessel
･2 Japan e se Se afare r pe r 1 Fore ign re giste re d ve sse l(FOC)
<MLIT Home Page, The Japanese Shipowners' Association Home Page, The Japan Maritime Daily>
・Those vessels are
what we call "Flag of
convenience"(FOC).
・3 foreign registered
vessels (FOC) can be
applied Tonnage Tax
against increase of 1
Japanese registered
vessel from 2013.
49
50
13. IR Policy
Kawasaki Kisen Kaisha, Ltd. ("K" Line) conducts its investor relations based on the fundamental
direction outlined below, in order that a clear understanding and fair evaluation of our company
can be made by all of our stakeholders, including shareholders and investors.
1. Fundamental Stance on IR Activities
"K" Line's fundamental approach to IR activities is the timely and appropriate disclosure of important
facts concerning the company to all existing and potential shareholders and investors, in an accurate and
clear, impartial and swift manner, with the aim of establishing a relationship of trust through accurate
information disclosure.
2. Information Disclosure Standards
"K" Line discloses information in accordance with applicable laws and regulations such as the Financial
Instruments and Exchange Act and the Timely Disclosure Rules set by the Tokyo Stock Exchange (TSE).
We proactively disclose information that is deemed to be beneficial for the investment decisions of
shareholders and investors, even where it does not fall under the Timely Disclosure Rules.
3. Information Disclosure Procedures
For information that falls under the Timely Disclosure Rules or which could have a material influence on
the
investment decisions of shareholders and investors, "K" Line
complies with Timely Disclosure Rules
・課税の計算方法は、船舶の純ﾄﾝ数ｘみなし利益ｘ運航日数ｘ
法人税率＝法人税額、となり
by
disclosing information through the TSE's Timely Disclosure Network (TDnet). The information
業績にかかわらず税額は一定となる。
disclosed at TDnet is also posted on our website as quickly as possible. We disclose all other information
as well by postings on our IR website, press releases, etc.
4. Enhancing Communication
"K" Line seeks to enhance interactive communication with our shareholders and investors through
briefing sessions and answering daily inquiries, etc. In order to gain further understanding of our
company, we also try to enhance availability of IR information through our website, etc.
5. Notes for Future Prospects
The information transmitted by us as IR news may include information about future forecasts, plans and
strategy, etc. That information is based on our future prospects and may include risk factors and
elements of uncertainty. For further information, please refer to Business Risks for details.
6. Quiet Period
To prevent the leakage of material information of the company and ensure fairness, "K" Line has
established the period about 2 weeks before the day of the announcement each quarter as a Quiet Period.
During this period, the company refrains from answering questions and will not respond to inquiries
concerning, or comment on, its earnings results, for which we sincerely request your understanding and
acceptance.
14. Shareholder Composition
Domestic Finance
Institutions
17.2%
(as of March 2013)
Overseas Investors
25.8%
Domestic Individuals
Other Domestic Corporations
Trust Accounts
24.3%
Other Domestic
Corporations
6.2%
Overseas Investors
Trust Accounts
Domestic Individuals
26.6%
Domestic Finance Institutions
50
【Contact Information】
KAWASAKI KISEN KAISHA, LTD.　IR&PR Group
IINO BUILDING, 1-1, Uchisaiwaicho 2-chome,
Chiyoda-ku, TOKYO 100-8540, JAPAN
E-Mail: kljtyoir@jp.kline.com
Tel.
(+81)-(0)3-3595-5063
Fax.
(+81)-(0)3-3595-5001
Home Page: http://www.kline.co.jp/en/
President Message
"K"Line & Group Companies
⇒ http://www.kline.co.jp/en/ir/policy/message.html
⇒ http://www.kline.co.jp/en/corporate/group/index.html
Financial Highlights
Annual Report
Social & Environmental Report
⇒ http://www.kline.co.jp/en/ir/library/bs/index.html
⇒ http://www.kline.co.jp/en/ir/library/annual/index.html
⇒ http://www.kline.co.jp/en/csr/report/index.html
Investor Meeting
（PPT, Streaming, etc.）
⇒ http://www.kline.co.jp/en/ir/library/pr/index.html
Management Plan
（PPT, Streaming, etc.）
⇒ http://www.kline.co.jp/en/corporate/vision100/
⇒ http://www.kline.co.jp/en/ir/library/plan/index.html
Business Introduction
（ inc. Fleet List)
⇒ http://www.kline.co.jp/en/service/index.html
Mailing List Registration
（Press Release etc.）
⇒ https://www.kline.co.jp/en/contact/other_e.php

factbook 2013

Transcription

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