MES President Addresses Company Developments

By Eric Haun
Monday, January 06, 2014
Takao Tanaka

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) president Takao Tanaka delivered a New Year message in which he comments on future market directions and developments as related to MES as well as the industry as a whole. Tanaka outlined his company’s approach to stabilizing profits across each market segment in which it is present, highlighting a company-wide focus on expansion and balanced growth.

Tanaka said the present business environment sees global increases in energy demand and the progression of structural changes in the industry resulting from the shale gas revolution, creating a positive business environment for certain business segments within MES. “Our chemical plant business, environment and energy business, and container crane business are all benefiting from the current environment,” Tanaka said, adding that the company’s subsidiaries Mitsui Ocean Development & Engineering Co., Ltd. is also performing well in its ocean resources development business.

While other segments experience growth, MES’ new shipbuilding and marine engine businesses, however, are facing a decline in the ocean transport market that has led to a decrease in profits, placing a group-wide focus on achieving recovery in these markets.

“To adapt to such significant change in the market and overcome severe condition, it is vital that we address issues facing management with sense of urgency,” Tanaka said. “The direction in which our company will head is one that enables us to realize a balanced business portfolio that combines continuous growth with stable earnings by the final year of the plan in FY2016.”

MES’ answer to industry hardships materialized in June of last year with the launch of a new operating structure and the draft of its “Midterm Business Plan 2014” (MBP14). Tanaka said MES will work specifically toward two types of reform.

“Our first goal is to innovate the business areas. With our current core businesses of shipbuilding and marine engines, we are facing intensifying product competition. We will strive to make a qualitative shift in our product lineup so that we can achieve a competitive advantage when the shipbuilding market does recover.”

“Our second goal is to innovate the business models,” Tanaka said. “In the past, our business model was a build and sell model through which we sold either finished products or plants such as EPC (engineering, procurement, and construction) projects. Moving forward, we will expand this model to include follow-up services, operational maintenance, and business management to create a comprehensive business model that covers the entire life cycle of our core business products. This business model will help us achieve profit stability.”

“There is no future in simply continuing conventional methods. These two reforms are vital to our becoming a company with future dreams and a company that has meaning in society,” Tanaka concluded.
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Shipbuilding

FMT Options for another Towboat from Eastern

Eastern Shipbuilding Group, Inc. announce that Florida Marine Transporters, Inc. of Mandeville, La. exercised another additional 90’x32’x10’ “Canal Class” Inland

Tuco Debuts New Wind Farm Service Boat

Less than a week before the Offshore Energy 2014 Exhibition and Conference in Amsterdam the coming week, Tuco Marine disclosed the newest vessel in the ProZero series of Fast Rescue Boats,

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

Ship Repair & Conversion

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Mitsubishi Super Skiving System

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Mitsubishi Super Skiving System" for machining internal gears with high speed and outstanding precision.

Messer to Debut MetalMaster Xcel

Messer Cutting Systems said it has answered the call from manufacturers that have been demanding a faster, more accurate way of producing cut parts. Messer’s

Energy

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Technip & Fluor Bag RAPID UIO Project

Technip, in a joint venture with Fluor, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd.

News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1772 sec (6 req/sec)