日本海事新聞ニュース Japan Maritime Daily Jun 12, 2026 (Fri)

NS United Kaiun Kaisha will meet replacement demand for aging vessels with environmentally friendly ships

Kazuma Yamanaka, president of NS United Kaiun Kaisha

　-- In fiscal year 2025, consolidated ordinary profit rose 11% from the previous period to 21 billio ・・・ 続きはログインして下さいnext %E3%80%80--+In+fiscal+year+2025%2C+consolidated+ordinary+profit+rose+11%25+from+the+previous+period+to+21+billion+yen.+%3Cbr%3E%E3%80%80%E2%80%9CAt+the+start+of+the+previous+period%2C+there+were+concerns+that+U.S.+tariff+policy+and+U.S.-China+tensions+would+reduce+transport+demand%2C+but+the+impact+on+the+dry+bulk+market+was+limited%2C+and+market+conditions+turned+upward+from+June.+Although+there+was+a+temporary+correction+phase%2C+the+market+remained+above+the+previous+fiscal+year%E2%80%99s+level+throughout+the+year.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CAgainst+this+backdrop%2C+our+oceangoing+shipping+division+posted+a+slight+decline+in+operating+profit+due+to+the+stronger+yen+and+a+decrease+in+operating+days.+Meanwhile%2C+the+coastal+shipping+division+posted+an+increase+in+operating+profit%3A+although+steel+raw+materials+and+cement-related+cargo+were+sluggish%2C+cargo+related+to+thermal+power+generation%2C+including+biomass%2C+exceeded+the+initial+plan%2C+and+efficient+operations+also+helped.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+group%E2%80%99s+net+profit+increased+thanks+to+foreign+exchange+valuation+gains+on+foreign-currency-denominated+assets+and+gains+on+the+sale+of+aging+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80--+For+the+current+period%2C+you+forecast+a+4%25+increase+in+pretax+profit+for+the+group+as+a+whole.+%3Cbr%3E%E3%80%80%E2%80%9CThe+dry+bulk+market+is+expected+to+remain+strong%2C+supported+by+increased+long-haul+trade+in+Brazilian+iron+ore%2C+West+African+bauxite%2C+and+iron+ore+from+Simandou+in+Guinea%2C+with+the+assumption+of+a+slightly+weaker+yen.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CAs+for+soaring+fuel+prices+stemming+from+concerns+over+instability+in+the+Middle+East%2C+we+believe+the+impact+on+medium-+to+long-term+earnings+will+be+limited%2C+because+freight+rates+for+dedicated+vessels+in+the+ocean-going+segment+are+largely+linked+to+fuel+prices%2C+and+open+vessels+also+benefit+from+bunker+hedging+through+the+use+of+futures+contracts.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CMeanwhile%2C+we+expect+the+coastal+shipping+segment+to+post+a+decline+in+operating+profit+this+fiscal+year+because%2C+under+a+market+structure+in+which+increases+in+fuel+prices+are+reflected+in+freight+rates+only+with+a+lag%2C+a+timing+mismatch+occurs.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CFor+the+group+as+a+whole%2C+we+have+a+bullish+outlook%2C+projecting+higher+revenue+and+higher+ordinary+profit+by+promoting+efficient+vessel+allocation+on+the+assumption+of+a+firm+market.+The+company+expects+net+profit+to+decline+because+it+does+not+expect+gains+on+vessel+sales+to+be+as+large+as+in+the+previous+period.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+current+market+environment+is+providing+a+tailwind%2C+but+we+will+emphasize+the+balance+of+vessel+deployment+contracts+and+will+not+recklessly+increase+the+number+of+open+vessels%2C+while+steadily+benefiting+from+strong+market+conditions+by+ensuring+medium-+to+long-term+stability+with+dedicated+vessels.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Ore+carrier+fleet+steadily+maintained+%3Cbr%3E%E3%80%80--+One+key+factor+in+the+medium-+to+long-term+dry+bulk+market+is+the+global+aging+of+Capesize+vessels.+%3Cbr%3E%E3%80%80%E2%80%9CThe+average+age+of+Capesize+vessels+worldwide+has+reached+nearly+15+years+as+vessels+delivered+in+large+numbers+during+the+previous+China+boom+have+been+aging.+Many+vessels+are+approaching+replacement+age%2C+but+shipowners+are+hesitating+to+place+newbuilding+orders+because+ship+prices+remain+high+and+it+is+difficult+to+determine+which+new+fuels+to+adopt%2C+so+fleet+supply+is+expected+to+remain+at+a+low+level+for+the+time+being.+As+a+result%2C+resource+companies+and+other+charterers+are+showing+a+tendency+to+keep+using+ships+for+longer+periods.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+steadily+invested+in+our+fleet+of+steel+raw+material+carriers+since+before+ship+prices+began+to+rise.+We+will+continue+to+maintain+a+stable+fleet+size+without+rapidly+increasing+or+decreasing+it%2C+and+will+continue+to+develop+the+fleet+while+maintaining+strong+relationships+with+partner+shipowners+within+our+portfolio+of+owned+and+chartered+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CTo+address+replacement+demand+that+is+likely+to+grow+among+Japanese+steelmakers+and+resource+companies%2C+we+will+propose+vessels+with+high+environmental+performance+and+aim+to+win+orders.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Rio+Tinto+and+methanol+%3Cbr%3E%E3%80%80--+How+are+you+approaching+the+shift+to+next-generation+fuels+for+ships%3F+%3Cbr%3E%E3%80%80%E2%80%9CIn+April%2C+we+concluded+a+transportation+contract+with+Rio+Tinto%2C+the+major+Anglo-Australian+resource+company%2C+for+two+methanol+dual-fuel+Capesize+vessels.+Rio+Tinto+is+highly+environmentally+conscious+and+has+indicated+a+policy+of+pursuing+decarbonization+by+introducing+various+environmental+technologies+in+addition+to+methanol+fuel.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIn+addition+to+Singapore%2C+major+discharge+ports+in+China+and+elsewhere+could+be+strong+candidates+for+methanol+bunkering+hubs.+We+will+further+step+up+our+sales+activities+so+that+we+can+gain+understanding+from+other+customers+as+well.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+development+of+the+global+supply+chain+for+ammonia+fuel+has+been+delayed+beyond+initial+expectations%2C+but+its+importance+as+a+net-zero+fuel+remains+unchanged.+We+are+continuing+to+study+ammonia+dual-fuel+vessels+jointly+with+ITOCHU+Corporation%2C+%E2%80%9CK%E2%80%9DLine%2C+Nihon+Shipyard%2C+and+MITSUI+E%26S.%E2%80%9C+%3Cbr%3E%E3%80%80+%E2%80%9CFor+LNG+%28liquefied+natural+gas%29+fuel%2C+NS+United+Coastal+Tanker+Kaisha+has+been+providing+an+LNG+bunkering+service+by+the+ship-to-ship+method+in+the+Osaka+Bay+and+Seto+Inland+Sea+area+with+the+Osaka+Gas+Group+since+April+this+year.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIn+the+field+of+new-energy+transportation+as+well%2C+an+LPG+%28liquefied+petroleum+gas%29+dual-fuel+VLGC+%28Very+Large+LPG+Carrier%29+capable+of+transporting+ammonia+is+scheduled+for+completion+in+fiscal+year+2027.+We+will+also+steadily+meet+demand+for+the+transportation+of+direct+reduced+iron+and+scrap+arising+from+the+decarbonization+of+steelmaking+processes+in+the+steel+industry.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CAlthough+it+is+difficult+to+determine+the+cost-effectiveness+of+environmental+technologies%2C+we+will+leverage+the+power+of+DX+%28digital+transformation%29+to+measure+performance+and+concentrate+investment+on+highly+effective+measures%2C+including+biofuels%2C+rotor+sails%2C+and+various+fuel-saving+devices.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Awareness+of+capital+costs+%3Cbr%3E%E3%80%80--+How+are+you+approaching+your+capital+policy%3F+%3Cbr%3E%E3%80%80%E2%80%9CWe+place+emphasis+on+management+with+a+strong+awareness+of+the+cost+of+capital.+To+consistently+generate+returns+exceeding+the+cost+of+equity+over+the+medium+to+long+term%2C+we+will+focus+on+three+priorities.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+first+point+is+the+thorough+enforcement+of+financial+discipline.+We+plan+to+invest+300+billion+yen+by+fiscal+year+2030+while+keeping+the+net+DER+%28Debt+Equity+Ratio%29+below+a+certain+level.+We+will+maintain+a+sound+financial+position+without+relying+on+excessive+leverage+%28the+use+of+borrowings%29.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+second+point+is+to+verify+the+capital+efficiency+of+each+investment+project.+We+have+secured+sufficient+funds+on+hand%2C+but+we+will+carefully+assess+their+contribution+to+future+profitability+and+competitiveness.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThe+third+point+is+to+strengthen+dialogue+with+the+market%2C+and+the+number+of+IR+%28investor+relations%29+meetings+has+also+nearly+doubled+compared+to+the+previous+year.+We+will+continue+to+communicate+transparently+about+our+business+model+and+strategy+underlying+indicators+such+as+PBR+%28price-to-book+ratio%29+and+ROE+%28return+on+equity%29%2C+and+seek+to+gain+understanding.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+believe+our+strength+lies+in+efficient+operations%2C+and+we+recognize+that+our+Selling%2C+General%2C+and+Administrative+%28SG%26A%29+expenses+as+a+percentage+of+net+sales+are+lower+than+those+of+other+Japanese+carriers.+We+will+remain+committed+to+increasing+productivity+and+generating+profits.%E2%80%9C+%3Cbr%3E%28Published+as+needed%29+%3Cbr%3E+%3Cbr%3E%E3%80%80Kazuma+Yamanaka+graduated+from+Hitotsubashi+University%E2%80%99s+Faculty+of+Law+in+1986+and+joined+Nippon+Steel+Corporation+%28now+Nippon+Steel+Corporation%29.+In+2012%2C+he+became+general+manager+of+the+Human+Resources+and+Labor+Relations+Department%3B+in+2018%2C+executive+officer+and+general+manager+of+the+Equipment+Procurement+Department%3B+in+2021%2C+managing+executive+officer%3B+and+since+June+2023%2C+he+has+held+his+current+position.+Born+in+Chiba+Prefecture.+Born+in+August+1963%2C+age+62.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E

【海運トップに聞く　26年度の舵取り】(4)NSユナイテッド海運社長・山中一馬氏、代替需要 環境船で応える

2026/06/12(金)

日本海事新聞 JMD

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