Japanese Shipping Majors Face Difficulty in Forecasting Earnings　海運大手３社、今期の業績予想が難航

Dry Bulk and Energy Remain Firm, Middle East Car Carrier Trades Uncertain, Rising Bunker Costs a Negative Factor

ドライ・エネルギーは堅調、中東向け完成車輸送は不透明、バンカー高騰はマイナス要因

The consolidated financial results for the fiscal year ending March 2026 of Japan’s three major shipping companies will be released sequentially, beginning with Mitsui O.S.K. Lines (MOL) on April 30, followed by Kawasaki Kisen Kaisha (K Line) on May 8, and Nippon Yusen Kabushiki Kaisha (NYK) on May 11. The issue at hand is the difficulty in formulating earnings forecasts for the current fiscal year.

■The full article covers the following points (approx. 5,000 words in total)

→The extent to which the disruption in the Strait of Hormuz is rendering earnings forecasts of major shipping companies uncertain, and the underlying reality

→Structural reasons why strong-performing segments such as dry bulk, tankers, and LNG do not necessarily translate directly into earnings

→The widening impact of the sharp decline in finished vehicle shipments to the Middle East on the car carrier business

→How vessel supply-demand dynamics are shifting due to Red Sea avoidance and the US Gulf shift, and the implications for container and energy transportation

→To what degree rising bunker prices and war risk insurance premiums are exerting pressure on the profitability of major shipping companies

(The remainder of the article can be read in both English and Japanese. The Japanese version follows the English article.)

海運大手３社、今期の業績予想が難航

ドライ・エネルギーは堅調、中東向け完成車輸送は不透明、バンカー高騰はマイナス要因

　海運大手3社の2026年3月期連結決算が商船三井の4月30日発表を皮切りに、川崎汽船（同5月8日）、日本郵船（同5月11日）と順次発表される。課題となっているのは今期の業績予想だ。

■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5,000文字）

→ホルムズ海峡の混乱が海運大手の業績予想をどこまで不透明にしているのか、その実態

→ドライ・タンカー・LNGなど好調分野が収益に直結しにくい構造的な理由

→中東向け完成車輸送の急減が自動車船事業に与える影響の広がり

→紅海回避や米ガルフシフトで変わる船腹需給とコンテナ・エネルギー輸送の行方

→バンカー価格と戦争保険の上昇が海運大手の収益をどこまで圧迫するのか

（続きは英語と日本語で書かれた本文でお読みください。日本語の記事は英文記事に続いて掲載されています）