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Message of New President & CEO
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I have become President & CEO of Mitsubishi Heavy Industries Marine Machinery & Equipment, succeeding Mr. Hori. Our Company celebrated the 10th anniversary of its foundation in October 2023. This year marks its first step toward the next 10 years.
I am humbled to take on the heavy responsibility as President & CEO in the year when our Company embarks on a new stage in its history.
Looking at the maritime and shipbuilding markets, the new ship building market is rapidly recovering from the effect of the COVID-19 pandemic. Ship builders in Japan, China, and Korea have received orders that will fulfill their slots for several years. In China, supply capacity is being increased with idle shipyards and engine factory reopening.
Our Company and licensees have also received many orders. Meanwhile, we are faced with the effect of the prolonged Russian-Ukraine crisis, and a continued increase in raw material, energy, labor, and other costs, as well as new issues such as the attacks on merchant vessels in the Red Sea. Moreover, shipbuilders and engine manufactures, who are direct customers for marine machinery manufacturers like us, are implementing restructuring, and we are closely watching how it will affect the market and our business. Under these circumstances, the Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) came into effect in January 2023 to regulate GHG emissions from existing ships.
Furthermore, at the MEPC 80 in July 2023, it was decided to bring forward the target year for Net-zero GHG emissions by or around 2050.
It is imperative to implement energy-saving and environmental measures for ships.
As stated in our corporate vision, we aim to contribute as a maritime technology provider to the achievement of Net-zero GHG emissions in the maritime and shipbuilding areas by sharing and leveraging the Mitsubishi Heavy Industries Group’s expertise. We are participating with the Maersk Mc-Kinney Moller Center for Zero Carbon Shipping (MMMCZCS), an international research institution working to promote decarbonization of the maritime industry.
We are also implementing a joint project called “MaTIS” with another Mitsubishi Heavy Industries Group company.
Specially, such as propeller retrofitting and waste heat recovery systems, which have been adopted by many customers, we will continue enhancing the portfolio of our products and services by creating new energy-saving solutions making full use of the Mitsubishi Heavy Industries Group’s technologies.
We will further accelerate the exploration and development of new technologies and solutions aimed at achieving Net-zero GHG emissions in the future. We, Mitsubishi Heavy Industries Marine Machinery & Equipment will step up efforts to provide high quality products and services and thereby continue to be a company that customers need and trust. We would appreciate your patronage of our products.
Katsuhide Matsunaga,
President & CEO