Greetings

　Just 1 year ago, in issue 25 of this magazine, the rapid recovery of the new shipbuilding market and the expansion of its construction capacity, especially in China, was mentioned. In 2024, China's share of the world's new shipbuilding volume exceeded 50%, and some predict that it may exceed 60% soon.
  On the other hand, shipyards in South Korea and Japan, are unable or not to increase their construction volume due to labor shortages, work style reforms, and the prolonged construction period of new fuel ships. Consequently, order intake seems to have reached 4 (four) years.
Geopolitical risks, such as in Ukraine and the Red Sea, remain a cause for concern, and while continuing to pay close attention to the impact on the market, I recognize that the shipbuilding industry‘s urgent issue is how to manage construction of the accumulated orders.
  Our responsibility is to secure supply capabilities, including partners and sub suppliers, and meet delivery schedules.
To this end, we will work to strengthen the supply chain and improve quality across our company brand, including our licensees.
  Since becoming president in April last year, I have visited many shipowners, shipyards, and engine. Although each company is considering future fuel alterations, many of them said that LNG would be the mainstream fuel for the time being due to the availability and cost of alternative fuels. 
   In addition, the Trump administration, which was inaugurated this year in the United States, has emphasized energy self-sufficiency and announced policies to promote the use of fossil fuels that run counter to decarbonization, leading some to believe that the momentum of fuel conversion will slow down.
  In light of this “uncertain” situation, our company will continue to develop technologies to cope with new fuels such as ammonia, while developing technologies to resolve methane slips, which is an issue when using LNG as fuel.
  In addition to the development of new technologies, MHI will proactively develop proposals for energy-saving solutions utilizing MHI Group technologies and products, such as propeller retrofitting, for which we have received many orders in recent years, energy-saving devices on hull, and modification of main engines & turbochargers for performance optimization.
  We will continue to be a company that customers need and trust, through the provision of high-quality products and services. We appreciate your continued patronage for MHI Marine Machinery products.