Mitsui O.S.K. Lines, Ltd. hereby announces the revision of its consolidated business outlook for the fiscal year 2022, which was previously announced on April 28th, 2022. Details of the announcement are as follows.

At OCEAN NETWORK EXPRESS PTE. LTD., the Company’s equity-method affiliate that operates containership business, cargo movements and spot freight rates are both exceeding the Company’s expectation at the time of the previous announcement on April 28th, 2022. By also taking into account the solid dry bulker market and car carrier market, as well as the impact of the exchange rate assumption review (from ¥120/$ to ¥125/$) in light of the recent yen depreciation trend, the Company has revised upward its business outlook on the first half of the fiscal year 2022 and full fiscal year 2022 after its careful examination.

2. Dividend forecast
The decision to revise the dividend forecast will be disclosed at the time of the announcement of the first quarter financial results reporting scheduled on July 29th, 2022, based on the first quarter’s business results.
Note: The above forecasts have been prepared based on information available as of the date of announcement of this material, and actual results may differ from the forecasts due to various factors in the future.

Source: Hellenic Shipping News