Marine Log - November 2008 - (Page 42)

CEOFORUM Considering these prospects, we project ¥2,050 billion in consolidated revenue for FY2008, ending March 2009, ¥300 billion in ordinary income, and ¥195 billion in net income. On the assumption that we can achieve the above profit targets, we plan to pay an annual dividend of ¥31 per share, including an interim dividend to promptly return profits to our sharehold- ICE CLASS TANKERS ers. We set ¥15.5 per share for the interim dividend for FY2008 at the Board of Directors meeting held on October 27, 2008. As for dividend payouts, we will maintain a dividend payout ratio of 20% in the foreseeable future, and pay dividends in line with our performance. But we will keep on working to increase the payout ratio as a mid- and long-term management task. Mitsui O.S.K. Lines Ltd. is forecasting that its Fiscal Year 2008 revenue will be 2,050 billion yen as compared with 2,150 billion yen in Fiscal Year 2007, a drop of 4.7%. It expects ordinary income to decline by 6.3% to 300 billion yen as compared with 320 billion in FY 2007. The bulk ship sector is forecasted to generate 270 billion yen in revenue, down from 292 billion yen in 2007. Net income will fall from 210 billion yen in FY 2007 to 195 billion yen in 2008, a decline of 7.1%. ML CHUCK RAYMOND CHAIRMAN, PRESIDENT & CEO HORIZON LINES INC. Operator of U.S.-flag containerships expects weaker economies in Puerto Rico, Hawaii to hurt earnings ur company performed well in the face of increased challenges during the third-quarter (which ended September 21, 2008). Volumes were negatively impacted by continued weakness in our Puerto Rico market, which was exacerbated by five tropical storms including three hurricanes, and by a sharper-than-anticipated slowdown in Hawaii, where a steep drop in tourism pressured the economy. Although fuel prices moderated somewhat during the period, they remained high; on average, 82% above their levels of a year ago. Despite these challenges, we grew revenue 3.1% during the quarter, excluding the impact of fuel recovery, through a combination of rate and mix. We contained costs through measures including strict fuel conservation while preserving our high standards of vessel on-time performance, and we continued to position our logistics business for long-term organic growth opportunities. Just as importantly, we repaid $12.5 42 MARINE LOG NOVEMBER 2008 www.marinelog.com O http://www.thordonbearings.com http://www.thordonbearings.com http://www.marinelog.com

Table of Contents Feed for the Digital Edition of Marine Log - November 2008

Marine Log - November 2008 Contents Editorial Second Thoughts Update Inside Washington Looking Back at 130 Years Generation NeXt What's Ahead? Media Kit 2009 Defying the Naysayers Rampant Piracy Takes Shipping Hostage The Last Chapter of the New Carissa International Workboat Show Preview Newsmakers Tech News Contracts Events Website Directory ML Buyer's Guide ML Marketplace Marine Salvage

Marine Log - November 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.