MOL sets midterm fleet, profit targets
Japanese shipping group Mitsui O.S.K. Lines is planning to add some 400 vessels to its fleet by March 2013, as part of a new midterm management plan called MOL ADVANCE.
Under the plan, MOL has set a net income target of Yen 143 billion ($1.3 billion) for the end of its 2009 fiscal year, ending March 2010, and Yen 160 billion ($1.45 billion) for the end of the 2012 fiscal year. These figures compare to MOL’s estimate of Yen 118 billion ($1.07 billion) net income for the end of the current financial year.
The revenue target for 2009 has been put at Yen2.06 trillion ($18.7 billion), up from the 2006 estimate of Yen1.57 trillion ($14.3 billion). MOL hopes to achieve Yen2.5 trillion ($22.7 billion) revenue in the 2012 fiscal year.
These financial targets all assume an exchange rate of Yen110 to the U.S. dollar and a bunker price of $300 per ton.
By the end of the 2012 fiscal year, MOL said it aims to have a fleet of 1,200 ships, including short-term charters and joint-venture-owned vessels, up from the estimated 805 it will operate at the end of this month.
MOL sets midterm fleet, profit targets
