MOL ship profits
Nov 24 (LNGJ) - Japanese shipping company Mitsui OSK Lines, whose “energy business fleet” includes over 150 tankers for oil and other products and about 90 LNG carriers, reported higher profits and revenues for the first six months of the year. Revenues in the energy shipping division, one of five in the MOL Group, amounted to 214.9 billion yen ($1.43Bln), up from 189.1Bln yen in the same six months last year. Net profits increased to 37.6Bln yen ($252M) from 22.1Bln yen in the prior-year period.
Takeshi Hashimoto, President and Chief Executive of MOL, said he was very pleased with the results for the first six months to the end of September. “We accumulated profits in the energy business and car-carrier business, both of which are the strengths of the MOL Group,” Hashimoto explained. “Performance in the first half exceeded forecasts as a result, and with the weaker yen also expected to have an impact on profits in the second half, we have raised the forecast for second-half profits to 220Bln yen ($1.47Bln),” Hashimoto added.
