Dry bulk operators begin slow steaming　ドライバルクオペレーター、減速航海を開始

Bunker prices exceed $1,000 per tonne, tightening vessel supply may lend support to the market

バンカー価格1,000ドル超、船腹需給引き締めで市況下支えも

According to Japanese and overseas dry bulk operators interviewed by Maritime Bridge Japan as of March 20, 2026, multiple shipping companies have begun slow steaming. As of the second quarter of 2025, looking at the operating scale of Japan’s three major shipping companies, NYK operates 934 vessels (489 owned vessels and 445 chartered vessels), MOL operates 935 vessels (459 owned vessels, 468 chartered vessels, and 8 managed vessels), and K Line operates 448 vessels (209 owned vessels and 239 chartered vessels). The combined total of the three companies reaches approximately 2,300 vessels, the majority of which are structured on an “operated basis” including chartered tonnage.

■The full article covers the following points (approximately 3,000 words in total)

→ Bunker prices have surged beyond $1,000 per tonne — what is happening to the cost structure of shipping

→ The impact of the expansion of slow steaming on vessel supply-demand balance and its concrete implications for the market

→ Whether costs can truly be passed on through BAF, and the practical constraints and time lag involved

→ The impact on Japan’s three major shipping companies and the severity of the deviation from assumed conditions

→ The “supply-demand adjustment mechanism” triggered by rising fuel costs and the outlook for future market scenarios

(The full text is available in both English and Japanese. The Japanese article follows the English version.)

ドライバルクオペレーター、減速航海を開始

バンカー価格1,000ドル超、船腹需給引き締めで市況下支えも

　Maritime Bridge Japanが2026年3月20日までに取材した日本・海外のドライバルクオペレーターによると、複数の海運会社が減速航海を開始した。2025年第2四半期時点における日本の海運大手3社の運航規模を見ると、日本郵船は934隻（自社船489隻、用船445隻）、商船三井は935隻（自社船459隻、用船468隻、運航受託船8隻）、川崎汽船は448隻（自社船209隻、用船239隻）となっている。3社合計では約2,300隻規模に達し、その大半が用船を含む「運航ベース」で構成されている。

■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3000文字）

→ バンカー価格が1トン1,000ドル超に急騰、海運コスト構造に何が起きているのか

→ 減速航海の拡大が船腹需給に与える影響と、市況への具体的な波及

→ BAFで本当にコスト転嫁できているのか、実務上の制約と時間差の実態

→ 日本の海運大手3社に及ぶ影響と、想定前提との乖離の深刻度

→ 燃料高騰が引き起こす「需給調整メカニズム」と今後の市況シナリオ

（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）