Oct 31 (LNGJ) - Mitsui OSK Lines, the Japanese shipping company with an operating fleet of around 100 liquefied natural gas carriers, reported a more than doubling of fiscal first-half net profits to 603.64 billion yen ($4.10Bln) compared with 278.07Bln yen ($1.88Bln) for its overall business including oil tankers, car carriers, containerships and dry-bulk vessels. MOL manages its LNG carriers and other fleets through six firms based in Tokyo, London, Hong Kong, Jakarta, Oman and Algeria and also has extensive fleets in the other sectors.
MOL said first-half shipping revenues from April to the end of September came to 821.33Bln yen ($5.56Bln). “While continuing to generate stable profit through existing long-term charter contracts, the LNG carrier business posted a year-on-year decline in profit partially due to the expiration of some long-term contracts,” said the company. “The floating storage and regasification unit (FSRU) business posted a year-on-year increase in profit,” it added.
