Kawasaki Kisen Kaisha, Ltd.
9107・Prime Market・Marine Transportation
Dry Bulk
Kawasaki Kisen's core owned-vessel segment handling tramper transport of steel raw materials, grain, etc.
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales to external customers | ¥292,783 million | ¥322,357 million | ↓ |
| Segment profit/loss (ordinary income basis) | ¥10,906 million | ¥13,286 million | ↓ |
| Segment assets | ¥268,546 million | ¥246,239 million | ↑ |
| Depreciation and amortization | ¥14,362 million | ¥16,344 million | ↓ |
| Increase in tangible and intangible fixed assets | ¥17,335 million | ¥35,425 million | ↓ |
| Number of vessels in operation at fiscal year-end (total) | 163 vessels | 178 vessels | ↓ |
Business Details
This segment is centered on the tramper shipping business transporting bulk cargoes such as iron ore, coal, grain, and bauxite. The company owns and operates a wide range of vessel types, from large vessels (Capesize, etc.) to medium and small vessels (Panamax, Handysize, etc.), and aims to maximize profitability through market exposure management and improvements in operating cost reduction and vessel allocation efficiency. As of the end of FY2026 (ending March 2026), the fleet consisted of 47 owned vessels and 116 chartered vessels, totaling 163 vessels (20,051,466 DWT) in operation.
Recent Overview
Decrease in both revenue and profit year on year. Large vessels remained firm, but medium and small vessels softened in H1, resulting in a full-year revenue decline.
In the Dry Bulk segment for FY2026 (ending March 2026), sales to external customers were ¥292,783 million (down 9.2% year on year) and segment profit/loss was ¥10,906 million (down 17.9% year on year), representing a decline in both revenue and profit. The large vessel market remained generally firm, supported by solid cargo movement in iron ore and bauxite, while medium and small vessels softened in the first half due to sluggish coal transport demand. The number of vessels in operation at fiscal year-end decreased by 15 vessels year on year to 163 (47 owned vessels and 116 chartered vessels), and the fleet size also contracted.
Key Products
Growth Drivers
- Continued firm cargo movement for large vessels transporting iron ore, bauxite, and other cargoes
- Expansion of a stable earnings base through the accumulation of medium- to long-term charter contracts
- Improved profitability through operating cost reductions and enhanced vessel allocation efficiency
- Demand for high-quality transport services amid growing needs for environmental response
- Expectations of tighter supply-demand balance due to limited newbuilding deliveries of large vessels
Risks
- Risk of softening in the medium and small vessel market (increased supply from newbuilding deliveries, sluggish coal transport demand, etc.)
- Uncertainty in transport demand due to China's economic slowdown and deterioration in the Middle East situation
- Impact on earnings from foreign exchange fluctuations (yen appreciation)
- Risk of rising operating costs due to fluctuations in fuel oil prices
- Changes in the earnings base accompanying the reduction of charter contracts and fleet downsizing
Last updated: June 18, 2026