Annual Report 2012


>> P.24

INITIATIVESINTHENEWMEDIUM-TERMMANAGEMENTPLANASWORLDWIDEDEMANDFORENERGYCONTINUESTOEXPAND,ITISINCREASINGLYIMPORTANTTODEVELOPOFFSHOREENERGYRESOURCESINDISTANTANDULTRA-DEEPWATERSASEXISTINGPRODUCTIONTENDSTODECREASEFROMOILANDGASFIELDSONLANDANDINOTHERSHALLOWWATERAREASINCLUDINGTHECONTINENTALSHELVES.INADDITIONTOEXISTINGENERGYTRANSPORTATIONBUSINESS,“K”LINEISALSOINVOLVEDINTHISGROWINGSECTOR.WEHAVEENTEREDTHEBUSINESSFORDRILLSHIPS,OFFSHORESUPPORTVESSELSANDFLOATINGLNGPRODUCERS.INAPRILTHISYEAR,OURDRILLSHIPPROJECTCOMMENCEDITSOPERATIONUNDERACHARTERCONTRACTWITHPETROBRASOFBRAZILWITHAMAXIMUMTERMOFTWENTYYEARS,ANDWEEXPECTSTABLE,LONG-TERMPROfiTSFROMTHISBUSINESS.“K”LINEWILLPROVIDEANINTEGRATEDTRANSPORTATIONSOLUTIONATEVERYSTAGETHROUGHENERGYRESOURCEDEVELOPMENTANDPRODUCTIONTOCONVENTIONALENERGYRESOURCETRANSPORTATION.WORLDWIDEDEMANDFORPRIMARYENERGY(MILLIONTONOILEQUIVALENT)INDEXOFVLCC*FREIGHTRATES(VLCCS,ARABIANGULF/JAPANINWORLDSCALE)SOURCE:PREPAREDBASEDONIEAWORLDENERGYOUTLOOK2011SOURCE:CLARKSON*VLCC:VERYLARGECRUDEOILCARRIER;200,000~300,000DWTTANKERSMANAGINGEXECUTIVEOFfiCERHIROMICHIAOKIENERGYTRANSPORTATIONANDTANKERBUSINESS24ANNUALREPORT2012BUSINESSREVIEWANDOUTLOOK


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