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MOL FY26 Outlook Rises on Dry Bulk, Energy, ONE

[ August 7, 2026   //   Gary Burrows ]

Mitsui O.S.K. Lines (MOL) has sharply raised its earnings outlook for fiscal 2026, citing stronger-than-expected market conditions in its dry bulk, energy and chemical logistics businesses, along with improved performance at Ocean Network Express (ONE).

For the fiscal year ending March 31, 2027, MOL now expects revenue of ¥2.23 trillion (about US$14.1 billion), up from its previous forecast of ¥2.04 trillion. The company increased its operating profit forecast by 28.6 percent to ¥135 billion (about US$852 million), while ordinary profit is now projected at ¥225 billion (about US$1.42 billion), a 55.2 percent increase from its earlier outlook. Profit attributable to shareholders was raised 41.2 percent to ¥240 billion (about US$1.51 billion).

MOL also significantly increased its first-half forecast. The company now expects first-half revenue of ¥1.235 trillion (about US$7.79 billion), compared with its previous estimate of ¥1.1 trillion. Ordinary profit was raised from ¥51 billion (about US$322 million) to ¥126 billion (about US$795 million), while profit attributable to shareholders increased from ¥77 billion (about US$486 million) to ¥137 billion (about US$865 million).

The company said market conditions in its dry bulk, energy and chemical logistics businesses have remained above the assumptions used when it issued guidance in April. MOL also expects stronger earnings from container carrier Ocean Network Express (ONE), its equity-method affiliate, as market conditions continue to improve.

The revised outlook follows MOL’s first-quarter earnings report, in which the company cited strong tanker markets, resilient dry bulk demand and higher container freight rates, while noting that geopolitical disruptions and longer voyage distances continue to support shipping markets.

Tags: Mitsui O.S.K. Lines