2015 1q supplementary report · load factor(k ) 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q ... top 30...

Supplementary Report

- FY2015 -

July 2015

Kawasaki Kisen Kaisha, Ltd.

1. Shipping Markets

2. Financial Data

3. Historical Data - For 6 Years -

Supplementary Information -1

- Shipping Markets-

3

1-1. “K” Line Container Loading Volume

2H

Loading Volume

（Unit 1,000TEU）1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Asia/America E/Bound 184 212 395 199 171 370 766 194 210 405 198 174 372 777 213 230 443 219 196 414 858

W/Bound 106 118 224 114 110 224 449 108 107 215 123 112 235 450 119 107 226 117 104 221 447

290 330 620 313 281 594 1,214 302 318 620 321 286 607 1,227 332 338 669 336 300 636 1,305

Asia/Europe E/Bound 136 130 266 110 104 214 480 121 122 243 111 104 215 458 127 129 256 120 110 230 486

W/Bound 87 90 178 85 74 158 336 81 80 160 80 80 160 320 87 93 180 91 83 174 354

223 221 444 195 178 373 817 201 202 403 190 185 375 778 213 222 435 211 193 404 839

Load Factor(％) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Asia/America E/Bound 96.0% 96.6% 96.3% 96.4% 87.5% 92.1% 94.2% 90.9% 91.3% 91.1% 95.9% 90.7% 93.4% 92.2% 98.3% 99.7% 99.1% 97.9% 92.7% 95.4% 97.3%

W/Bound 55.6% 53.9% 54.7% 55.4% 56.2% 55.8% 55.2% 50.5% 46.5% 48.4% 59.7% 58.3% 59.0% 53.4% 54.7% 46.4% 50.5% 52.6% 49.3% 51.0% 50.7%

75.8% 75.2% 75.5% 75.9% 71.8% 73.9% 74.7% 70.7% 68.9% 69.7% 77.8% 74.5% 76.2% 72.8% 76.5% 73.1% 74.8% 75.2% 71.0% 73.2% 74.0%

Asia/Europe E/Bound 95.1% 88.0% 91.5% 90.2% 86.4% 88.3% 90.1% 93.7% 91.4% 92.5% 95.8% 91.4% 93.6% 93.0% 94.6% 92.5% 93.5% 89.1% 84.8% 87.0% 90.3%

W/Bound 61.3% 61.0% 61.1% 69.5% 61.0% 65.3% 63.0% 62.5% 59.6% 61.0% 69.1% 70.3% 69.7% 65.1% 64.7% 66.7% 65.7% 67.2% 64.4% 65.8% 65.8%

78.7% 75.1% 76.9% 80.3% 74.5% 77.4% 77.1% 78.6% 76.1% 77.3% 82.9% 81.4% 82.2% 79.6% 80.1% 80.0% 80.0% 78.7% 75.2% 77.0% 78.5%

１HFY

2H

FY

2012FY 2013FY 2014FY

1H 2HFY

１H 2HFY

2012FY 2013FY 2014FY

1H 2H

FY

1H 2H

FY

1H

Loading Volume

(Unit 1,000TEU)1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

Asia/America E/Bound 184 212 395 199 171 370 766 194 210 405 198 174 372 777 213 230 443 219 196 414 858 243

W/Bound 106 118 224 114 110 224 449 108 107 215 123 112 235 450 119 107 226 117 104 221 447 119

290 330 620 313 281 594 1,214 302 318 620 321 286 607 1,227 332 338 669 336 300 636 1,305 362

Asia/Europe E/Bound 136 130 266 110 104 214 480 121 122 243 111 104 215 458 127 129 256 120 110 230 486 103

W/Bound 87 90 178 85 74 158 336 81 80 160 80 80 160 320 87 93 180 91 83 174 354 85

223 221 444 195 178 373 817 201 202 403 190 185 375 778 213 222 435 211 193 404 839 188

Load Factor(％) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

Asia/America E/Bound 96.0% 96.6% 96.3% 96.4% 87.5% 92.1% 94.2% 90.9% 91.3% 91.1% 95.9% 90.7% 93.4% 92.2% 98.3% 99.7% 99.1% 97.9% 92.7% 95.4% 97.3% 99.7%

W/Bound 55.6% 53.9% 54.7% 55.4% 56.2% 55.8% 55.2% 50.5% 46.5% 48.4% 59.7% 58.3% 59.0% 53.4% 54.7% 46.4% 50.5% 52.6% 49.3% 51.0% 50.7% 49.1%

75.8% 75.2% 75.5% 75.9% 71.8% 73.9% 74.7% 70.7% 68.9% 69.7% 77.8% 74.5% 76.2% 72.8% 76.5% 73.1% 74.8% 75.2% 71.0% 73.2% 74.0% 74.4%

Asia/Europe E/Bound 95.1% 88.0% 91.5% 90.2% 86.4% 88.3% 90.1% 93.7% 91.4% 92.5% 95.8% 91.4% 93.6% 93.0% 94.6% 92.5% 93.5% 89.1% 84.8% 87.0% 90.3% 85.3%

W/Bound 61.3% 61.0% 61.1% 69.5% 61.0% 65.3% 63.0% 62.5% 59.6% 61.0% 69.1% 70.3% 69.7% 65.1% 64.7% 66.7% 65.7% 67.2% 64.4% 65.8% 65.8% 70.1%

78.7% 75.1% 76.9% 80.3% 74.5% 77.4% 77.1% 78.6% 76.1% 77.3% 82.9% 81.4% 82.2% 79.6% 80.1% 80.0% 80.0% 78.7% 75.2% 77.0% 78.5% 71.1%

1HFY

1H2H

2H

1H 2HFY

1H 2HFY

1H

FY

1H

2012FY 2013FY 2014FY 2015FY

2012FY 2013FY 2014FY 2015FY

1H 2H

FY

1H 2H

FY

Top 30 Container Carriers ranked by operating capacity as of July 2015

TOTAL

TEU

1 APM-Maersk 3,092,8752 Mediterranean Shg Co 2,634,0953 CMA CGM Group 1,757,7704 Hapag-Lloyd 972,8705 Evergreen Line 949,0196 COSCO Container L. 862,7857 CSCL 700,8588 Hanjin Shipping 622,4409 Hamburg Süd Group 608,99110 MOL 607,11311 OOCL 587,61512 APL 555,86013 Yang Ming Marine Transport Corp. 536,22814 NYK Line 497,90715 UASC 441,96516 K Line 408,60617 PIL (Pacific Int. Line) 389,10118 Hyundai M.M. 377,47119 Zim 353,59820 Wan Hai Lines 228,88821 X-Press Feeders Group 121,75322 KMTC 103,46323 SITC 90,26724 HDS Lines 88,60825 TS Lines 81,89826 Arkas Line / EMES 57,93727 Simatech 52,58128 Quanzhou An Sheng Shg Co 52,51829 UniFeeder 44,62730 RCL (Regional Container L.) 44,431

Rank Alliance TEU

1 APM-Maersk 3,092,875

2 Mediterranean Shg Co 2,634,095

3 CKYH 2,430,059

4 GA 2,058,392

5 CMA CGM Group 1,757,770

6 TNWA 1,540,444

7 Evergreen Line 949,019

8 CSCL 700,858

9 Hamburg Süd Group 608,991

10 UASC 441,965

Source : Alphaliner (http://www.alphaliner.com/)

Rank Operator

300 600 900 1,200 1,500 1,800 2,100 2,400 2,700 3,000 3,300

APM-MaerskMediterranean Shg Co

CMA CGM GroupHapag-Lloyd

Evergreen LineCOSCO Container L.

CSCLHanjin Shipping

Hamburg Süd GroupMOL

OOCLAPL

Yang Ming Marine Transport Corp.NYK Line

UASCK Line

PIL (Pacific Int. Line)Hyundai M.M.

ZimWan Hai Lines

X-Press Feeders GroupKMTC

SITCHDS Lines

TS LinesArkas Line / EMES

SimatechQuanzhou An Sheng Shg Co

UniFeederRCL (Regional Container L.)

千(TEU)

4

1-2. Line/Alliance wise Vessel/Capacity Comparison

1,000 TEU

5

1-3. “K” Line Container Volume & Share

(Asia to North America ’01-’15)

2001

1H

2001

2H

2002

1H

2002

2H

2003

1H

2003

2H

2004

1H

2004

2H

2005

1H

2005

2H

2006

1H

2006

2H

2007

1H

2007

2H

2008

1H

2008

2H

2009

1H

2009

2H

2010

1H

2010

2H

2011

1H

2011

2H

2012

1H

2012

2H

2013

1H

2013

2H

2014

1H

2014

2H

KL Volume 172 195 208 235 244 251 248 280 291 334 325 374 382 439 361 384 300 352 332 343 314 329 330 413 369 411 388 449

Share 4.8% 4.8% 4.9% 4.7% 5.1% 4.8% 4.6% 4.6% 4.8% 4.7% 4.8% 4.9% 5.5% 5.9% 5.5% 5.7% 5.6% 5.5% 5.2% 4.7% 4.7% 4.6% 4.7% 5.6% 5.1% 5.1% 5.0% 5.3%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Shar

e

TE

U

TPS EB KL Results

KL Volume Share

6


(North America to Asia ’01-’15 )

TPS WB KL Results050,000100,000150,000200,000250,000TEU 0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0% ShareKL Volume ShareKL Volume 108 111 103 108 113 111 108 109 116 120 134 126 128 146 192 166 168 214 195 Share 6.0% 6.3% 5.5% 6.0% 5.6% 5.3% 4.5% 5.1% 4.8% 4.9% 5.1% 4.8% 4.2% 4.5% 5.3% 5.4% 5.4% 6.2% 5.4%2001 1H 2001 2H 2002 1H 2002 2H 2003 1H 2003 2H 2004 1H 2004 2H 2005 1H 2005 2H 2006 1H 2006 2H 2007 1H 2007 2H 2008 1H 2008 2H 2009 1H 2009 2H 2010 1H

7


(Asia (ex.India) to Europe ’01-’15, )

8


(Europe to Asia (ex.India) ’01-’15 )

2001

1H

2001

2H

2002

1H

2002

2H

2003

1H

2003

2H

2004

1H

2004

2H

2005

1H

2005

2H

2006

1H

2006

2H

2007

1H

2007

2H

2008

1H

2008

1H

2009

1H

2009

2H

2010

1H

2010

2H

2011

1H

2011

2H

2012

1H

2012

2H

2013

1H

2013

2H

2014

1H

2014

2H

KL Volume 81 93 83 102 102 115 110 117 112 120 130 119 121 108 106 120 131 152 146 146 151 156 161 175 154 159 167 184

Share 4.7% 5.3% 4.6% 5.4% 5.1% 5.6% 4.8% 5.2% 4.6% 4.8% 5.0% 4.6% 4.6% 4.2% 4.1% 5.0% 5.1% 5.2% 5.2% 5.2% 5.1% 5.1% 5.0% 5.7% 4.6% 4.9% 4.9% 5.6%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

Sh

are

TE

U

AES EB KL Results

KL Volume Share

9

1-7. Trend of Average Container Freight/Volume

（2004F-2015F）

615 630

617 595

661

667 666

657

711 754

742 732

808

825 804

763

859 865

751

628

729

810 789

753

789

790

777

738 771 833

793 768

846

871

811

716

760 787

767

702

801

829

795

717

779

1,108

1,178

1,175 1,173 1,207

1,250 1,243

1,144

1,158 1,196

1,170

1,170

1,243

1,372 1,326

1,330

1,366 1,433

1,319

1,026 883

932 1,038 1,179

1,345

1,473

1,321 1,273

1,281 1,210 1,144 1,159

1,348

1,351

1,274

1,297 1,221

1,274

1,186 1,341

1,292 1,346

1,305 1,311 1,223

0

200

400

600

800

1,000

1,200

1,400

1,600

0

100

200

300

400

500

600

700

800

900

1000

04F

1Q

04F

2Q

04F

3Q

04F

4Q

05F

1Q

05F

2Q

05F

3Q

05F

4Q

06F

1Q

06F

2Q

06F

3Q

06F

4Q

07F

1Q

07F

2Q

07F

3Q

07F

4Q

08F

1Q

08F

2Q

08F

3Q

08F

4Q

09F

1Q

09F

2Q

09F

3Q

09F

4Q

10F

1Q

10F

2Q

10F

3Q

10F

4Q

11F

1Q

11F

2Q

11F

3Q

11F

4Q

12F

1Q

12F

2Q

12F

3Q

12F

4Q

13F

1Q

13F

2Q

13F

3Q

13F

4Q

14F

1Q

14F

2Q

14F

3Q

14F

4Q

15F

1Q

Average Freight（$） Volume（1,000TEU）

Volume Freight

10

1-8. Dry Bulk Market

Dry Bulk Market (BDI)

11

1-9. Tanker Market

Tanker Market (VLCC AG/JPN)

12

1-10. Transition of Cars / Trucks Transported by “K” Line PCTC Fleet

13

1-11. “K” Line Vessel Fleet Composition

Heavy Lifters

2014 March 16 ships

2015 March 17 ships

Offshore Energy E&P Support

Ships

2014 March 8 ships

2015 March 8 ships

Note: The number of Energy Resource Transportation includes 23 vessels owned by SPC of the projects ( 23 LNG Carriers).

: The number of Offshore Energy E&P Support vessel includes 1 vessel owned by SPC of the project ( 1 Drillship).

Container, 80 Container, 75

Bulk Carrier, 261 Bulk Carrier, 276

PCTC, 102 PCTC, 98

Energy Resource, 67 Energy Resource, 66

Coastal/Ferry, 49 Coastal/Ferry, 49

0

100

200

300

400

500

600

2015 Mar 2015 June

Total 584 Total 588

Heavy Lifter

2015 March 17ships

2015June 16ships

Offshore Energy E&P Support Ships

2015March 8ships

2015Jume 8ships

14

1-12. “K” Line Container Vessel Fleet Composition

2014 Mar 2015 Mar

300m 200m 100m 0m

Total 74 80

1,700TEU型（2,500~1,700） 16 15

1,200TEU (1,200~680) 3 3

5,500TEU (6,300~5,500) 18 20

4,200TEU（4,800~4,200） 24 28

14,000TEU 0 1

8,000TEU(8,600~8,200) 13 13

K

K

K

K

K

K2015 Mar 2015 June

300m 200m 100m 0m

Total 80 75

1,700TEU（2,500~1,700） 15 15

1,200TEU (1,200~680) 3 3

5,500TEU (6,300~5,500) 20 17

4,200TEU（4,800~4,200） 28 23

14,000TEU 1 2

8,000TEU (8,600~8,200) 13 15

K

K

K

K

K

K

15

1-13. “K” Line Bulk Carrier Fleet Composition

16

1-14. “K” Line PCTC Vessel Fleet Composition

41 46

21 21

19 18

3 4

8 7

6 6

0m

98 102

2,000units（1,600~2,500）

800units（800~850）

200m 100m

合計

2014 Mar 2015 Mar

6,000units

5,000units（4,750~5,650)

4,000units（3,800~4,600）

3,000units（2,800~3,500）

1

46 46

15 14

18 17

8 6

6 6

9 8

0m

102 98

3,000~3,999units

2,000~2,999units

2,000units under

200m 100m

Total

2015 Mar 2015 June

7,000units over

6,000~6,999units

5,000~5,999units

4,000~4,999units

17

1-15. “K” Line Energy Resource Transportation,

Offshore Energy E&P Support & Heavy Lifter Fleet Composition

Drillship

2015 Mar 1

2015 June 1

CHEMICAL Tanker

2015 Mar 3

2015 June 3

Note: The number of Energy Resource Transportation includes 23 vessels owned by SPC of the projects ( 23 LNG Carriers).

: The number of Offshore Energy E&P Support vessel includes 1 vessel owned by SPC of the project ( 1 Drillship).

2014F 2015F 2016F 2017F

Already

delivered

To be

delivered

To be

delivered

To be

delivered

Containership 1 4 0 0

14000TEU 1 4

Dry Bulkers 10 11 2 14

Capesize 3 1 8

Panamax 4 5 1

Handymax 1 3 2

Smallhandy 1 1 1

Chip/Pulp

Corona 1 2 1 1

PCTC 1 5 4 2

6000units 1

7500units 4 4 2

LNG 0 1 4 0

Tanker 1 0 0 1

LPG 1 1

CHEMICAL

Energy New Biz 0 0 0 0

Offshore

Drillship

Heavy Lifter 0 0 0 0

Coastal 4 1 1 0

Total 17 22 11 17

18

1-16. Fleet Upgrading Plan

<Fleet Upgrading Plan>

No. of Newbuildings during FY2015-2018

*Including vessels to be chartered from ship

owners upon delively.

FY2015 : 24 newbuildings were delivered

FY2016 : 11 newbuildings to be delivered

*Domestic Offshore Ship

*

2015F 2016F 2017F 2018F

To be

delivered

Already

delivered

by 1Q

To be

delivered

To be

delivered

To be

delivered

Containership 4 (1) 0 0 5

14000TEU 4 1 5

Dry Bulkers 11 (3) 2 14 5

Capesize 1 8 2

Panamax 5 1 1

Handymax 3 1 2

Smallhandy 1 1

Chip/Pulp 1

Corona 2 1 1 1 3

PCTC 7 (1) 3 2 0

7500units 7 1 3 2 0

LNG 1 4 1 1

Tanker 0 0 1 0

VLCC 1

ＬＰＧ

Energy New Biz 0 0 0 0

Offshore

Drillship

Heavy Lifter 0 0 0 0

Coastal 1 2 0 1

＊

Total 24 (5) 11 18 12

19

1-17. “K” Line Group Composition of Fleet

Note: The number of owned vessels includes co-owned vessels,

and deadweight tonnage includes share of other companies’ ownership in co-owned vessels.

Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT)Container ships 9 603,246 71 4,239,400 80 4,842,646 74 4,382,638Dry Bulk Carriers 70 7,878,109 191 21,669,926 261 29,548,035 271 29,741,257Car Carriers 35 521,979 67 1,024,818 102 1,546,797 98 1,466,049LNG Carriers 42 3,476,851 1 77,163 43 3,554,014 43 3,554,014Oil Tankers 11 1,643,407 13 1,720,368 24 3,363,775 23 3,313,946Offshore Support Vessels 7 32,481 0 0 7 32,481 7 32,481Drillships 1 - 0 - 1 - 1 -Heavy Lifters 14 147,736 3 39,226 17 186,962 16 166,824Short Sea and Coastalships 21 233,690 28 363,724 49 597,414 50 587,816

Total 210 14,537,499 374 29,134,625 584 43,672,124 583 43,245,025

2015 Mar 2014 MarOwned Chartered Total Total

Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT)Contianerships 9 603,179 66 4,074,216 75 4,677,395 80 4,842,646Dry Bulk Carriers 69 7,849,662 207 23,294,513 276 31,144,175 261 29,548,035Car Carriers 35 521,979 63 993,939 98 1,515,918 102 1,546,797LNG Carriers 41 3,409,827 1 77,163 42 3,486,990 43 3,554,014Oil Tankers 11 1,643,407 13 1,720,850 24 3,364,257 24 3,363,775Offshore Support Vessels 7 32,481 0 0 7 32,481 7 32,481Drillships 1 - 0 - 1 - 1 -Heavy Lifters 14 147,736 2 19,926 16 167,662 17 186,962Short Sea and Coastalships 21 233,690 28 363,724 49 597,414 49 597,414

Total 208 14,441,961 380 30,544,331 588 44,986,292 584 43,672,124

2015 June 2015 MarOwned Chartered Total Total

Supplementary Information-2

- Financial Data -

21

2-1. Transition of Operating Revenues

22

2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2015FY )

Supplemental Information -3

Historical Data - For 6 Years -

24

3-1. Consolidated Revenues & Incomes

25

3-2. Consolidated Total Assets/Shareholders’ Equity

26

3-3. Consolidated ROE / ROA

27

3-4. Consolidated EV/EBITDA

28

3-5. Consolidated Assets Turnover

29

3-6. Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets

30

3-7. Consolidated Interest Coverage Ratio

31

3-8. Consolidated Net Income / Operating Cash Flow

32

3-9. Consolidated Segment Information

* From 2010FY, business segments have been revised.

* From 2012FY, business segments have been revised.

（Unit：million yen）

12F 13F 14F

Operating Revenues

Containership Bussiness 552,810 582,398 677,428

Bulk Shipping Bussiness 502,571 572,686 600,687

Other Energy E&P

Support &Heavy Lifter35,712 32,818 35,317

Other Bussiness 43,678 36,224 38,988

Total 1,134,771 1,224,126 1,352,421

Ordinary Income

Containership Bussiness 6,630 -142 20,623

Bulk Shipping Bussiness 24,064 41,261 36,501

Other Energy E&P

Support &Heavy Lifter-2,422 -4,503 -5,670

Other Bussiness 6,566 2,635 3,024

Total 34,839 39,252 54,477

Eliminations -6,250 -6,797 -5,497

Consolidated 28,589 32,455 48,981


10F 11F

Operating Revenues

Containership Bussiness 444,971 395,460

Bulk Shipping Bussiness 447,111 463,507

Other Bussiness 93,002 113,342

Total 985,084 972,310

Ordinary Income

Containership Bussiness 29,005 -41,772

Bulk Shipping Bussiness 16,991 -8,628

Other Bussiness 4,739 6,605

Total 50,735 -43,795

Eliminations -3,385 -5,160

Consolidated 47,350 -48,955


09F

Operationg Revenue

　Marine Transportation 729,683

　Freight Forwarting / Harbor Transportation

87,918

　Others 20,431

Total 838,033

Operationg Income

　Marine Transportation -59,060

　Freight Forwarting / Harbor Transportation

4,726

　Others 2,176

Total -52,158

Eliminations 83

Condolidated -52,075

33

3-10. Non-Consolidated Financial Data


09F 10F 11F 12F 13F 14F

Operationg Revenues 631,747 772,321 737,994 834,217 954,427 1,060,231

Container 332,649 419,248 373,938 434,172 478,657 558,325

Bulk Carrier & Car Carrier 254,442 305,522 323,664 364,860 438,720 462,329

Energy Transportaion 42,332 44,825 38,826 34,104 36,187 38,900

Other Shipping Bussiness 956 1,407 371 23 11 0

Othe Bussiness 1,368 1,319 1,195 1,059 850 677

Operating Income -59,462 41,656 -49,375 -7,017 7,413 17,015

Ordinary Income -53,731 41,162 -48,748 13,643 18,234 48,491

Net Income -56,949 24,620 -37,044 -4,168 11,353 39,029

　

Total Assets 569,028 580,087 557,862 575,488 663,658 656,312

Total Liabilities 363,076 376,444 396,753 363,341 426,745 378,269

Shareholder's Equity 205,952 203,642 161,109 207,778 213,778 246,020

2015 1q supplementary report · load factor(k ) 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q ... top 30...

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