MOL Earnings Briefing: Q&A in Detail　商船三井決算会見・質疑応答（詳報）

2026年8月7日

Dry bulk benefits from stronger market; China export growth pushes up car-carrier chartering costs

ドライバルク、市況上昇を享受　自動車船は中国輸出増で船腹調達コスト上昇

　MOL outlined the latest conditions in its key businesses, including dry bulk, car carriers and chemical logistics, at an online briefing on its first-quarter results for the financial year ending March 2027.

　Alternative sourcing and increased tonne-mile demand resulting from restrictions on navigation through the Strait of Hormuz have tightened vessel supply and demand. In car carriers, meanwhile, higher vessel procurement costs are weighing on earnings.

　The briefing was attended by Kazuya Hamazaki, Representative Director, Executive Vice President and Chief Financial Officer, and Sanae Sonoda, Director, Senior Managing Executive Officer and Chief Communication Officer (CCO).

■The full article covers the following topics (approximately 4,000 Japanese characters)

→Dry bulk benefited from higher freight markets that more than offset increased fuel costs. MOL is gradually increasing its market exposure in the Capesize segment.

→Car-carrier volumes remained broadly unchanged from the previous year, while expanding Chinese vehicle exports tightened vessel supply and demand and pushed up vessel procurement costs.

→Chemical logistics combines transportation, tank terminals and tank containers, with long-term contracts providing a stable earnings base.

→Restrictions on navigation through the Strait of Hormuz tightened vessel supply and demand through alternative sourcing and slower steaming, providing support to shipping markets.

→A detailed account of the Q&A from MOL’s online earnings briefing. Maritime Bridge Japan provides an in-depth report on developments across the key businesses and comments from management.

(Please continue reading the full paid version, available in both English and Japanese. The Japanese article follows the English version.)

商船三井決算会見・質疑応答（詳報）

ドライバルク、市況上昇を享受　自動車船は中国輸出増で船腹調達コスト上昇

　商船三井は2027年3月期第1四半期決算のオンライン会見で、ドライバルク、自動車船、ケミカルロジスティクスなど主要事業の足元の状況を説明した。

ホルムズ海峡の航行制約に伴う代替輸送やトンマイル増加が船腹需給を引き締める一方、自動車船では船腹調達コストの上昇が収益を圧迫している。

　出席者は濱崎和也（Kazuya Hamazaki

）代表取締役副社長執行役員CFO、園田早苗（Sanae Sonoda）取締役常務執行役員チーフ・コミュニケーション・オフィサー（CCO）。

■記事本文では以下の内容を読むことができます（記事全文約4,000文字）

→ドライバルクは、燃料高以上に運賃市況の上昇が寄与。ケープサイズでは市況エクスポージャーを段階的に拡大。

→自動車船は輸送台数が前年並みの一方、中国車輸出の拡大で船腹需給が引き締まり、調達コストが上昇。

→ケミカルロジスティクスは、輸送・タンクターミナル・タンクコンテナを組み合わせ、長期契約を基盤に安定収益を確保。

→ホルムズ海峡の航行制約は、代替調達や減速運航を通じて船腹需給を引き締め、市況面ではプラスに作用。