Reviewing FY2026 Results at Japan’s Major Shipping Groups　海運大手の2026年3月期決算を振り返る

Rising Tensions Over Iran and the Outlook for the Current Year — What Shipping Executives Said

緊迫するイラン情勢、今期の見通し―海運首脳はどう語ったか

The FY2026 financial results of Japan’s three major shipping groups — Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL) and Kawasaki Kisen Kaisha, Ltd. (K Line) — had all been released by May 11.

What drew the attention of market participants this time was not merely the earnings figures themselves, but rather how senior management at each company addressed the “de facto closure” of the Strait of Hormuz during their online earnings briefings.

Against the backdrop of escalating tensions involving Iran, uncertainty surrounding the shipping industry is rapidly intensifying, including soaring bunker fuel prices, the prolonged rerouting of vessels around the Red Sea and Suez Canal, and disruptions to Middle East-bound automobile logistics.

■The full article covers the following topics (approximately 3,000 characters in total)

→How executives at Japan’s three major shipping groups incorporated the Strait of Hormuz situation into their earnings briefings

→“Fuel supply will determine competitiveness” — the sense of crisis reflected in comments by President Takaya Soga

→Car carrier operators examine alternative transport routes to maintain Middle East-bound logistics

→Surging fuel prices, slow steaming and BAF pass-throughs — how each company described operational responses on the ground

→The “normalisation scenarios” outlined by the three shipping executives and their cautious assessment of risks

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

海運大手の2026年3月期決算を振り返る

緊迫するイラン情勢、今期の見通し―海運首脳はどう語ったか

日本郵船、商船三井、川崎汽船の海運大手3社の2026年3月期決算が5月11日までに出そろった。

今回、市場関係者の注目を集めたのは、決算数値そのもの以上に、オンライン決算会見で各社首脳が示した「ホルムズ海峡の事実上の封鎖」への認識だった。イラン情勢緊迫化を背景に、燃料油価格の高騰、紅海・スエズ迂回の長期化、自動車船の中東向け物流停滞など、海運業界を取り巻く不確実性は急速に高まっている。

■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3,000文字）

→海運大手3社首脳は、ホルムズ海峡情勢を決算会見でどう織り込んだのか

→「燃料供給が競争力を左右する」――曽我社長発言が示した危機意識

→自動車船各社、中東向け物流維持へ代替輸送ルートを検討

→燃料高騰、減速運航、BAF転嫁…各社が語った現場対応を整理

→海運トップ3人が示した「正常化シナリオ」と慎重なリスク認識

（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）