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New MOL president says cheap oil is a two-edge sword for shipping company
WHILE the drop in crude oil prices provides a "tailwind", it also raises concerns of a slowdown in resource in his first presidential annual state of the company address.
"This could negatively impact our new LNG carrier and offshore business projects. In addition, we cannot expect favourable conditions will go on forever in the tanker market," said the head of the Japanese shipping giant.
"We must not be content to rely on methods that worked in the past. I said this upon becoming CEO last June because past experience does not guarantee our future success," he said.
"I want 2016 to mark a turning point. We must recommit ourselves to safe operation. It has now been a decade since four serious marine incidents took place," said Mr Ikeda.
"Our business climate remains severe. Fleet oversupply is still an issue, and we see few prospects for recovery with the Chinese economy slowing down and markets stuck at historically low levels for both containerships and dry bulkers," he said.
"This could negatively impact our new LNG carrier and offshore business projects. In addition, we cannot expect favourable conditions will go on forever in the tanker market," said the head of the Japanese shipping giant.
"We must not be content to rely on methods that worked in the past. I said this upon becoming CEO last June because past experience does not guarantee our future success," he said.
"I want 2016 to mark a turning point. We must recommit ourselves to safe operation. It has now been a decade since four serious marine incidents took place," said Mr Ikeda.
"Our business climate remains severe. Fleet oversupply is still an issue, and we see few prospects for recovery with the Chinese economy slowing down and markets stuck at historically low levels for both containerships and dry bulkers," he said.
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