Latest news with #MOL
Kyodo News
3 days ago
- Business
- Kyodo News
FEATURE: Cruise boom buoys Japan's post-pandemic tourism
By Keiichiro Otsuka, KYODO NEWS - 19 hours ago - 10:42 | Feature, All, Japan, Travel/Tourism When the Diamond Princess was quarantined off Yokohama in the early stages of the COVID-19 pandemic in 2020, Japan's cruise industry ground to a halt, its future clouded by fear and uncertainty. Today, that industry is roaring back. Demand for maritime journeys with swimming pools among a host of luxury amenities and entertainment has surged due to pent-up wanderlust and a wave of new investments. Japanese ports are seeing record domestic passenger numbers, signaling not just a revival in leisure travel, but a broader boost to local economies that rely on tourism. Japan, an archipelago of over 14,000 islands and one of the largest economies in the world, has a relatively small cruise industry and modest vessels compared to the U.S., home of giants like Carnival Cruise Line. According to the Ministry of Land, Infrastructure, Transport and Tourism, however, the Japanese cruise market grew significantly in 2024, increasing by 14.2 percent year-on-year to 224,100 passengers. The number of international visitors entering Japan by cruise ship quadrupled to 1.4 million, nearly 60 percent of the record set in 2017. Kentaro Matsuura, president of cruise travel agency Yutaka Club (Tokyo), estimates domestic passengers will exceed 250,000 in 2025 and may approach the 2019 record high of 356,600 next year. With their core cargo business hit hard by U.S. President Donald Trump's import tariffs, Japanese shipping giants are developing cruise ships into thriving businesses that can produce stable income streams. Due to tariffs, shipping companies NYK Line and Mitsui O.S.K Lines Ltd. (MOL) forecast 47.7 percent and 60.0 percent year-on-year declines in net profits, respectively, in their consolidated financial accounts for fiscal 2025. NYK Cruises will launch the Asuka III on July 20, expanding its fleet to two ships, while Mitsui Ocean Cruises will add a third ship in the latter half of next year. On the evening of May 5, the Mitsui Ocean Fuji, which MOL began operating in December 2024, passed under Yokohama Bay Bridge. Nearby, in the Port of Yokohama, Mitsui's Nippon Maru was awaiting departure. Also docked was the Cunard luxury liner Queen Elizabeth. "I look forward to seeing the Asuka III," said a man viewing the ships. At 52,265 gross tons and 230 meters long, the Yokohama-based Asuka III will be the largest passenger ship in the Japanese fleet. It will be decorated with frescoes by Japanese painter Hiroshi Senju, giving it the feel of a floating art gallery, and all 381 cabins will have private seaside balconies. Her maiden voyage from July 20 to 26 will be from Yokohama to Hakodate and Otaru in Hokkaido. The costs per passenger will be between 984,000 yen ($6,800) and around 4.80 million yen. In February, NYK Line and its subsidiary Yusen Cruises reached a basic agreement on a business alliance in which Oriental Land, which operates Tokyo Disney Resort, will take over the operation and management of cruise ships scheduled to enter service in fiscal 2028. The main departure and arrival port will be Tokyo Bay, and shows featuring Mickey Mouse and other Disney characters will be held on board. A second vessel is also being considered for service. To keep up with its rival, Mitsui O.S.K. Lines in March announced that it had also bought an additional sister ship (32,477 gross tons) from the U.S.-based Seabourn Cruise Line, the seller of the Mitsui Ocean Fuji hull, to begin operations in the latter half of next year. "Mitsui Ocean Fuji has received a very positive response from customers due to the fact that they can enjoy the expansive ocean views from their cabin verandas," said MOL President Tsunemichi Mukai, adding that the addition of a sister ship will only strengthen the company's ability to attract customers. The company plans to build two passenger ships at a European shipyard and launch them in the near future. Related coverage: Former Diamond Princess passengers mark 5 yrs since COVID outbreak Disney Cruise Line makes Singapore its 1st home port in Asia
Kyodo News
3 days ago
- Business
- Kyodo News
FEATURE: Cruise boom buoys Japan's post-pandemic tourism
By Keiichiro Otsuka, KYODO NEWS - 2 minutes ago - 10:42 | Feature, All, Japan, Travel/Tourism When the Diamond Princess was quarantined off Yokohama in the early stages of the COVID-19 pandemic in 2020, Japan's cruise industry ground to a halt, its future clouded by fear and uncertainty. Today, that industry is roaring back. Demand for maritime journeys with swimming pools among a host of luxury amenities and entertainment has surged due to pent-up wanderlust and a wave of new investments. Japanese ports are seeing record domestic passenger numbers, signaling not just a revival in leisure travel, but a broader boost to local economies that rely on tourism. Japan, an archipelago of over 14,000 islands and one of the largest economies in the world, has a relatively small cruise industry and modest vessels compared to the U.S., home of giants like Carnival Cruise Line. According to the Ministry of Land, Infrastructure, Transport and Tourism, however, the Japanese cruise market grew significantly in 2024, increasing by 14.2 percent year-on-year to 224,100 passengers. The number of international visitors entering Japan by cruise ship quadrupled to 1.4 million, nearly 60 percent of the record set in 2017. Kentaro Matsuura, president of cruise travel agency Yutaka Club (Tokyo), estimates domestic passengers will exceed 250,000 in 2025 and may approach the 2019 record high of 356,600 next year. With their core cargo business hit hard by U.S. President Donald Trump's import tariffs, Japanese shipping giants are developing cruise ships into thriving businesses that can produce stable income streams. Due to tariffs, shipping companies NYK Line and Mitsui O.S.K Lines Ltd. (MOL) forecast 47.7 percent and 60.0 percent year-on-year declines in net profits, respectively, in their consolidated financial accounts for fiscal 2025. NYK Cruises will launch the Asuka III on July 20, expanding its fleet to two ships, while Mitsui Ocean Cruises will add a third ship in the latter half of next year. On the evening of May 5, the Mitsui Ocean Fuji, which MOL began operating in December 2024, passed under Yokohama Bay Bridge. Nearby, in the Port of Yokohama, Mitsui's Nippon Maru was awaiting departure. Also docked was the Cunard luxury liner Queen Elizabeth. "I look forward to seeing the Asuka III," said a man viewing the ships. At 52,265 gross tons and 230 meters long, the Yokohama-based Asuka III will be the largest passenger ship in the Japanese fleet. It will be decorated with frescoes by Japanese painter Hiroshi Senju, giving it the feel of a floating art gallery, and all 381 cabins will have private seaside balconies. Her maiden voyage from July 20 to 26 will be from Yokohama to Hakodate and Otaru in Hokkaido. The costs per passenger will be between 984,000 yen ($6,800) and around 4.80 million yen. In February, NYK Line and its subsidiary Yusen Cruises reached a basic agreement on a business alliance in which Oriental Land, which operates Tokyo Disney Resort, will take over the operation and management of cruise ships scheduled to enter service in fiscal 2028. The main departure and arrival port will be Tokyo Bay, and shows featuring Mickey Mouse and other Disney characters will be held on board. A second vessel is also being considered for service. To keep up with its rival, Mitsui O.S.K. Lines in March announced that it had also bought an additional sister ship (32,477 gross tons) from the U.S.-based Seabourn Cruise Line, the seller of the Mitsui Ocean Fuji hull, to begin operations in the latter half of next year. "Mitsui Ocean Fuji has received a very positive response from customers due to the fact that they can enjoy the expansive ocean views from their cabin verandas," said MOL President Tsunemichi Mukai, adding that the addition of a sister ship will only strengthen the company's ability to attract customers. The company plans to build two passenger ships at a European shipyard and launch them in the near future. Related coverage: Former Diamond Princess passengers mark 5 yrs since COVID outbreak Disney Cruise Line makes Singapore its 1st home port in Asia
Japan Today
4 days ago
- Business
- Japan Today
Cruise boom buoys Japan's post-pandemic tourism
By Keiichiro Otsuka When the Diamond Princess was quarantined off Yokohama in the early stages of the COVID-19 pandemic in 2020, Japan's cruise industry ground to a halt, its future clouded by fear and uncertainty. Today, that industry is roaring back. Demand for maritime journeys with swimming pools among a host of luxury amenities and entertainment has surged due to pent-up wanderlust and a wave of new investments. Japanese ports are seeing record domestic passenger numbers, signaling not just a revival in leisure travel, but a broader boost to local economies that rely on tourism. Japan, an archipelago of over 14,000 islands and one of the largest economies in the world, has a relatively small cruise industry and modest vessels compared to the U.S., home of giants like Carnival Cruise Line. According to the Ministry of Land, Infrastructure, Transport and Tourism, however, the Japanese cruise market grew significantly in 2024, increasing by 14.2 percent year-on-year to 224,100 passengers. The number of international visitors entering Japan by cruise ship quadrupled to 1.4 million, nearly 60 percent of the record set in 2017. Kentaro Matsuura, president of cruise travel agency Yutaka Club (Tokyo), estimates domestic passengers will exceed 250,000 in 2025 and may approach the 2019 record high of 356,600 next year. With their core cargo business hit hard by U.S. President Donald Trump's import tariffs, Japanese shipping giants are developing cruise ships into thriving businesses that can produce stable income streams. Due to tariffs, shipping companies NYK Line and Mitsui O.S.K Lines Ltd (MOL) forecast 47.7 percent and 60.0 percent year-on-year declines in net profits, respectively, in their consolidated financial accounts for fiscal 2025. NYK Cruises will launch the Asuka III on July 20, expanding its fleet to two ships, while Mitsui Ocean Cruises will add a third ship in the latter half of next year. On the evening of May 5, the Mitsui Ocean Fuji, which MOL began operating in December 2024, passed under Yokohama Bay Bridge. Nearby, in the Port of Yokohama, Mitsui's Nippon Maru was awaiting departure. Also docked was the Cunard luxury liner Queen Elizabeth. "I look forward to seeing the Asuka III," said a man viewing the ships. At 52,265 gross tons and 230 meters long, the Yokohama-based Asuka III will be the largest passenger ship in the Japanese fleet. It will be decorated with frescoes by Japanese painter Hiroshi Senju, giving it the feel of a floating art gallery, and all 381 cabins will have private seaside balconies. Her maiden voyage from July 20 to 26 will be from Yokohama to Hakodate and Otaru in Hokkaido. The costs per passenger will be between 984,000 yen and around 4.80 million yen. In February, NYK Line and its subsidiary Yusen Cruises reached a basic agreement on a business alliance in which Oriental Land, which operates Tokyo Disney Resort, will take over the operation and management of cruise ships scheduled to enter service in fiscal 2028. The main departure and arrival port will be Tokyo Bay, and shows featuring Mickey Mouse and other Disney characters will be held on board. A second vessel is also being considered for service. To keep up with its rival, Mitsui O.S.K. Lines in March announced that it had also bought an additional sister ship (32,477 gross tons) from the U.S.-based Seabourn Cruise Line, the seller of the Mitsui Ocean Fuji hull, to begin operations in the latter half of next year. "Mitsui Ocean Fuji has received a very positive response from customers due to the fact that they can enjoy the expansive ocean views from their cabin verandas," said MOL President Tsunemichi Mukai, adding that the addition of a sister ship will only strengthen the company's ability to attract customers. The company plans to build two passenger ships at a European shipyard and launch them in the near future. © KYODO
Yahoo
23-05-2025
- Business
- Yahoo
MOL chooses Inmarsat NexusWave to support digital transformation
Inmarsat Maritime has entered an agreement with Mitsui OSK Lines (MOL) to facilitate the transition of MOL's fleet from the Fleet Xpress (FX) service to Inmarsat's NexusWave. This upgrade aims to enhance the digitalisation efforts of the Japanese shipping company by providing a fully managed bonded connectivity service across its vessels. The implementation and support for this transition will be managed by local Inmarsat partner JSAT MOBILE Communications, which will oversee a diverse fleet that includes liquefied natural gas (LNG) carriers, oil tankers, and car carriers. MOL is adapting to changing operational requirements and crew connectivity demands by seeking comprehensive satellite communication solutions. The NexusWave service combines multiple network underlays into a single bonded connection, offering high speeds, reliability, unlimited data, and global coverage. It includes enterprise-grade cybersecurity, continuous technical support, and transparent pricing structures. MOL chief digital and information officer Junichi Yoshiyama said: 'Our digitalised and connected ships are becoming floating operations centres and homes for our crew, and Inmarsat's NexusWave will help keep them connected to high-speed internet and support our onboard digitalisation strategy.' Recent tests of the NexusWave service have demonstrated download speeds reaching 330-340Mbps and upload speeds between 70-80Mbps, with network availability reported at over 99.9%. Inmarsat is committed to enhancing its services, with plans to integrate the next-generation ultra-high capacity, high-speed ViaSat-3 Ka-band network, which is expected to further boost connectivity speeds for NexusWave. Inmarsat Maritime president Ben Palmer said: 'We are proud to continue our partnership with MOL and to deliver NexusWave as an accelerator of maritime digitalisation and, by extension, an enabler of the floating office and floating home. 'Forward-thinking operators like MOL are drawn to the solution for its performance, robust capabilities, and the confidence that comes from working with a reliable maritime connectivity partner.' In February this year, Maersk partnered with Inmarsat Maritime to improve satellite communications for its fleet, enhancing connectivity for around 340 container ships globally between 2025 and 2026. "MOL chooses Inmarsat NexusWave to support digital transformation" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
VSAT, MOL Ink Deal to Upgrade Fleet Connectivity With NexusWave
Inmarsat Maritime, a subsidiary of Viasat, Inc. VSAT, recently announced that it has inked an agreement with Mitsui O.S.K. Lines, Ltd. (MOL) to upgrade the Japanese shipping company's fleet from the current Fleet Xpress service to the next-generation NexusWave solution. This transition marks a strategic step in MOL's effort to build a more resilient and high-performance communication system, capable of enhancing operational efficiency and crew connectivity across its global upgrade to NexusWave brings a fully managed bonded connectivity service that integrates Inmarsat's Global Xpress Ka-band, low-Earth orbit satellite services, coastal Long-Term Evolution networks, and an L-band layer for added resilience. This unified architecture ensures seamless, high-speed, and highly reliable Internet access anywhere in the world, effectively removing the dependency on multiple, fragmented communication solutions traditionally used in complex maritime operations. As maritime workforces become increasingly digitally connected, the need for fast and stable Internet is critical not only for operations but also for crew welfare. With NexusWave, MOL is focusing on equipping its vessels to serve as both operational command centers and living spaces for crew members. The system's multi-layered approach supports this evolution by offering consistent speeds, unlimited data usage, and global coverage, all protected by enterprise-grade cybersecurity and backed by round-the-clock technical support. The integration of multiple network underlays into a single bonded service will not only simplify connectivity but also eliminate the inefficiencies of managing multiple disjointed systems. This aligns closely with MOL's vision of transforming its fleet into digitally connected, efficient, and crew-friendly floating workplaces and homes. Inmarsat is a global leader in delivering innovative and reliable mobile communication services worldwide. The buyout of the company in 2023 has immensely strengthened Viasat's portfolio, diversifying its service offerings and accelerating global expansion. One of the key features of NexusWave is its future-proof design. In recent real-world trials, it delivered download speeds of 330–340 Mbps and upload speeds of 70–80 Mbps, with average network availability exceeding 99.9%. NexusWave is also set to incorporate the next-generation ViaSat-3 Ka-band service, an ultra-high-capacity, high-speed network expected to launch in 2025. This integration will further enhance its capacity and speed, enabling it to keep pace with the evolving demands of maritime operators. This collaboration with MOL highlights the increasing demand for more advanced, bonded connectivity systems. The service will not only offer unmatched speed and reliability but also simplify fleet management by providing a single, trusted service tailored specifically for maritime environments. These advancements bode well for Viasat's long-term growth. Shares of Viasat have plunged 31.9% over the past year against the industry's growth of 41.1%. Image Source: Zacks Investment Research Viasat currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader industry have been discussed Networks, Inc. JNPR sports a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here. In the last reported quarter, it delivered an earnings surprise of 4.88%. Juniper is leveraging the 400-gig cycle to capture hyperscale switching opportunities within the data center. The company is set to capitalize on the increasing demand for data center virtualization, cloud computing and mobile traffic packet/optical convergence. Juniper also introduced new features within its AI-driven enterprise portfolio, enabling customers to simplify the rollout of their campus wired and wireless networks while providing greater insight to network IDCC carries a Zacks Rank #2 (Buy) at present. In the trailing four quarters, InterDigital delivered an earnings surprise of 160.15%. The company is a pioneer in advanced mobile technologies that enable wireless communications and designs and develops a wide range of advanced technology solutions used in digital cellular, wireless 3G, 4G and IEEE 802-related products and Networks, Inc. ANET, carrying a Zacks Rank of 2 at present, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service delivered a trailing four-quarter average earnings surprise of 11.82% and has a long-term growth expectation of 14.81%. Arista currently serves five verticals, namely cloud titans (customers that deploy more than one million servers), cloud specialty providers, service providers, financial services and the rest of the enterprise. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Juniper Networks, Inc. (JNPR) : Free Stock Analysis Report InterDigital, Inc. (IDCC) : Free Stock Analysis Report Viasat Inc. (VSAT) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
