Latest news with #NipponYusen
Japan Times
30-05-2025
- Business
- Japan Times
Top Japan shipper sees orders recovering as trade tensions ease
Japanese shipping giant Nippon Yusen is confident U.S. tariffs won't hurt its business as much as initially expected, with bookings already recovering and set to stay strong over the next three months. The biggest shipper by market capitalization — which operates container and cruise lines, specialized carriers, and air freight — saw a robust recovery in container shipping orders following an easing in tensions between the United States and some of its trading partners this month, said Chief Executive Officer Takaya Soga. That's after booking volumes had slumped by a third as U.S. President Donald Trump announced sweeping tariffs in April. "Even if things continue as they are now, there will probably not be another decline in bookings from tariffs this year,' he said on Wednesday. Specifically with regard to shipping autos, which have faced a 25% U.S. tariff since April 3, Soga said bookings "have not dropped at all.' Separately, rival Mitsui OSK Lines also said an expected decline in shipping volume had not materialized as of April and May. "In a sense, it is a happy miscalculation,' Chief Executive Officer Takeshi Hashimoto said earlier this week. A good order book would help Nippon Yusen focus on quickly expanding its shipping business through mergers and acquisitions, Soga said. Nippon Yusen became the world's largest operator of liquefied petroleum gas (LPG) carriers last month after it acquired the non-crude oil tanker shipping business from Eneos Ocean, a subsidiary of Eneos Holdings, for ¥76 billion ($526 million). The company took over over 47 vessels, including LPG carriers and chemical tankers. Soga said acquiring part of Eneos Ocean "was a very good deal, and I'm currently looking into other similar opportunities.' He declined to name any potential targets. When asked about the U.S.' planned port-entry fee targeting Chinese vessels, Soga said he sees the policy having limited impact on Nippon Yusen as only 8% of its fleet is China-built. He added his company has no plans to exclude Chinese shipyards from future shipbuilding orders. Earlier this week, Mitsui OSK said it is hard to buy Chinese vessels for the time being as the U.S. ramps up scrutiny.
Mint
29-05-2025
- Business
- Mint
Top Japan Shipper Sees Orders Recovering as Trade Tensions Ease
Japanese shipping giant, Nippon Yusen KK, is confident US tariffs won't hurt its business as much as initially expected, with bookings already recovering and set to stay strong over the next three months. The biggest shipper by market capitalization — which operates container and cruise lines, specialized carriers, and air freight — saw a robust recovery in container shipping orders following an easing in tensions between the US and some of its trading partners this month, said Chief Executive Officer Takaya Soga. That's after booking volumes had slumped by a third as US President Donald Trump announced sweeping tariffs in April. 'Even if things continue as they are now, there will probably not be another decline in bookings from tariffs this year,' he told Bloomberg News on Wednesday. Specifically with regard to shipping autos, which have faced a 25% US tariff since April 3, Soga said bookings 'have not dropped at all'. Separately, rival Mitsui OSK Lines Ltd. also said an expected decline in shipping volume had not materialized as of April and May. 'In a sense, it is a happy miscalculation,' Chief Executive Officer Takeshi Hashimoto told Bloomberg News earlier this week. A good order book would help Nippon Yusen focus on quickly expanding its shipping business through mergers and acquisitions, Soga said. Nippon Yusen became the world's largest operator of liquefied petroleum gas carriers last month after it acquired the non-crude oil tanker shipping business from ENEOS Ocean, a subsidiary of ENEOS Holdings Inc., for 76 billion yen . The company took over over 47 vessels, including LPG carriers and chemical tankers. Soga said acquiring part of ENEOS Ocean 'was a very good deal, and I'm currently looking into other similar opportunities.' He declined to name any potential targets. When asked about the US' planned port-entry fee targeting Chinese vessels, Soga said he sees the policy having limited impact on Nippon Yusen as only 8% of its fleet is China-built. He added his company has no plans to exclude Chinese shipyards from future shipbuilding orders. Earlier this week, Mitsui OSK said it is hard to buy Chinese vessels for the time being as the US ramps up scrutiny. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
29-05-2025
- Business
- Bloomberg
Top Japan Shipper Sees Orders Recovering as Trade Tensions Ease
By and Tsuyoshi Inajima Save Japanese shipping giant, Nippon Yusen KK, is confident US tariffs won't hurt its business as much as initially expected, with bookings already recovering and set to stay strong over the next three months. The biggest shipper by market capitalization — which operates container and cruise lines, specialized carriers, and air freight — saw a robust recovery in container shipping orders following an easing in tensions between the US and some of its trading partners this month, said Chief Executive Officer Takaya Soga. That's after booking volumes had slumped by a third as US President Donald Trump announced sweeping tariffs in April.
Japan Times
09-05-2025
- Automotive
- Japan Times
Three major Japan shipping firms expect sharp falls in profit
Japan's three major shipping companies expect their consolidated net profits in fiscal 2025 to plunge by around 50% to 70% from the previous year, projecting a drop in transport of automobiles and other goods due to U.S. President Donald Trump's tariff measures. The firms also expect that freight rates in the container shipping division, which has driven their earnings, will go down in the fiscal year ending in March 2026, reflecting an increase in new shipbuilding worldwide. Net profit is forecast to fall 47.7% to ¥250 billion at Nippon Yusen, 60% to ¥170 billion at Mitsui O.S.K. Lines and 67.3% to ¥100 billion at Kawasaki Kisen Kaisha, according to their earnings reports released by Thursday. Mitsui OSK Lines expects the impact of the U.S. tariff policy to push down its ordinary profit by ¥40 billion. Stay updated on the trade wars. Quality journalism is more crucial than ever. Help us get the story right. For a limited time, we're offering a discounted subscription plan. Unlimited access US$30 US$18 /mo FOREVER subscribe NOW "The container division and the auto division will be hit considerably" by the tariff measures, Mitsui OSK Lines President Takeshi Hashimoto said in an online news conference on April 30, adding that cargo movements from China to North America will likely decrease and that auto-carrying freighters are expected to see a drop in the number of cars they ship to the United States. Kawasaki Kisen estimates the tariffs' impact on its ordinary profit at ¥30 billion. Nippon Yusen said the impact could be up to ¥100 billion on an ordinary profit basis. "There are so many variables that it is impossible to predict at this point the extent of the decline in cargo movements and the degree of economic stagnation in each country." Nippon Yusen President Takaya Soga said in an online news conference on Thursday. The Trump administration is believed to be planning to impose port entry fees on car carriers built outside the country. If such fees are actually introduced, Mitsui OSK Lines' Hashimoto said his company plans to seek the understanding of cargo owners about passing the charges on to freight rates. For fiscal 2024, which ended in March this year, the three companies reported increases in their sales and profits, as freight rates for container ships remained high and demand for car carriers was also solid.
Reuters
01-04-2025
- Business
- Reuters
Top Japanese shipping line fears US tariffs will slow cargo flows, president says
TOKYO, April 1 (Reuters) - Nippon Yusen (NYK) (9101.T), opens new tab, Japan's largest shipping line, is concerned that U.S. President Donald Trump's tariffs could push up the cost of automobiles and daily goods, denting consumer demand and slowing cargo flows, its president said. "The tariffs are not directly borne by consumers, but the burden ultimately falls on them, which in turn reduces the actual flow of goods. That's our biggest concern," President Takaya Soga told Reuters in an interview on Monday. Trump last week unveiled plans to impose a 25% tariff on automobile imports, a move expected to hit Japan's export-driven economy. He has also vowed to announce reciprocal tariffs targeting all trading partners on Wednesday. "Tariffs could have a considerable impact on the economy," Soga said, adding that the extent of the impact on shipping and logistics companies will depend on actual cargo movements. However, Soga sees potential benefits from the trade war. As seen during the COVID-19 pandemic, even if cargo volumes decline, tariff-related procedural delays could disrupt logistics, tighten ship demand and lift freight rates, he said. And if China shifts to sourcing raw materials from outside the U.S., NYK could find business opportunities. A rush for general consumer goods drove up cargo movement in December until just before the Chinese New Year in anticipation of U.S. tariffs, but there has been no major shift in material flows since they took effect, Soga said. The United States is also planning to charge fees for docking at U.S. ports on any ship that is part of a fleet that includes Chinese- built or Chinese-flagged vessels and will push allies to do similar or face retaliation. "The U.S. government will carefully examine the policy, including whether it will be implemented, so we cannot say now that we will stop ordering vessels from China," he said. With ongoing geopolitical risks in the Middle East, Soga expects Red Sea avoidance to continue for a while. Disruption in the Red Sea due to attacks by Yemen's Houthi militants absorbed extra capacity last year, as many ships took a longer route around Southern Africa. While container vessel congestion in the Panama Canal has largely been resolved, NYK is urging the Panama Canal Authority to reinstate Tier 1 priority for liquefied natural gas (LNG) tanker traffic, Soga said. Regarding the investment plans in vessels involved in offshore wind power projects, Soga said the company's plans in Japan may be delayed due to slower-than-expected market development, but overseas investments will proceed sooner.
