ShippingWatch

Japanese carrier boosted by tank and Capesize

Japanese Mitsui OSK Lines (MOL), benefiting from the strong developments in VLCC and good rates in Capesize, achieved a solid bottom line in the result for the first nine months of the year. 

In spite of overall challenges in dry bulk, Japanese MOL in its latest interim report, which ended on December 31st 2013, noted a 14 percent growth in revenue, compared to the same period 2012.

Revenue increased to USD 280 million, from last year's deficit of USD 572 million, and according to Koichi Muto, President of Mitsui OSK Lines, the carrier's future is secured in light of the fact that Capesize rates, for the first time in two years, returned to USD 40,000 per day in 2013. And in his statement in the report he points to the strength of the VLCC market: 

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Several factors explain the plummeting dry bulk rates

Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.

Further reading

Related articles

Latest news

See all jobs