Feature : Tokyo Century’s Discerning Eye

Moving Beyond Finance into Vessel Ownership—How the First Newbuild in a Decade Illustrates Our Shipping Business’s Discerning Eye as the Anchor for Sustainable Global Logistics

Jul 15, 2026

At the very core of Tokyo Century’s business lies our ability to discern the true value of assets and market potential—a capability we call our discerning eye. In this ongoing feature, we explore how this specialized insight is applied across the various products offered by Tokyo Century and how it contributes to society.

For our eighth installment, we spotlight our shipping business, which supports the essential ocean transport for our daily lives. Moving beyond the traditional role of a leasing company, Tokyo Century offers a diverse range of shipping solutions, including providing finance as well as owning and chartering vessels. We sat down with Takehisa Egawa and Goshi Tashiro from the Ship Business Division to discuss the business, the behind-the-scenes story of our long-awaited newbuild vessel HERMES CENTURY (delivered in April 2026), and the discerning eye cultivated uniquely through vessel ownership.

From left: Goshi Tashiro and Takehisa Egawa from the Ship Business Division

Hybrid Strength of Finance and Vessel Ownership

—To start, could you give us an overview of Tokyo Century’s shipping business and what sets it apart from competitors?

Egawa: Tokyo Century’s shipping business is built on two primary pillars. The first is the finance business, which provides financial support to shipowners and shipping companies both in Japan and overseas. The second is the vessel ownership business, where we operate as a shipowner, acquiring vessels ourselves and chartering them to shipping companies. Our defining characteristic is that, despite being a leasing company, we do more than just provide financial backing—we actively own and manage the physical assets. Currently, the Ship Business Division alone owns and manages six vessels, and when including joint ownerships, we deploy a global fleet of nearly 30 vessels.

Tashiro: Furthermore, in March 2026, we expanded our reach by investing in the CTM Group, a world-leading, Monaco-based shipping group specializing in vessel ownership and operation. We are not mere financiers who simply provide capital. We proactively take on asset and operational risks, aiming for a deeply committed shipping business that directly and indirectly anchors the entire shipping infrastructure.　

—Why do you take on the risks associated with owning vessels?

Egawa: Because that risk is the very source of our discerning eye. By immersing ourselves directly in the shipping industry as an actual shipowner, we develop a genuine firsthand perspective. We learn how the condition of a vessel changes after ten years of service, as well as the daily risks and needs of shipowners and operators on the ground. These are insights you can never grasp solely through paperwork or financial figures. The real-world data on wear and tear and the operational expertise accumulated through our vessel ownership business allow us to execute precise and sophisticated risk management.

"True discerning eye is forged when you move away from finance driven purely by numbers and choose to share the risks alongside your partners," says Egawa.

The HERMES CENTURY, Our First Newbuild in a Decade, Sets Sail

—In April 2026, Tokyo Century celebrated the delivery of its first owned newbuild in a decade.

Tashiro: Yes. The new vessel, delivered in April 2026, is named the HERMES CENTURY. Hermes is the god of travel and navigation in Greek mythology, and we paired it with our company name, Century.

The vessel is a dry bulk carrier with a deadweight capacity in the 80,000-ton class. It features seven massive cargo holds, each roughly the size and depth of an elementary school gymnasium. It is designed to transport large quantities of unpackaged primary commodities essential to our daily lives, such as coal, grain, and iron ore.

Exterior of the HERMES CENTURY

—How do you feel Tokyo Century’s shipping business contributes to society?

Egawa: For Japan, an island nation surrounded entirely by the sea, ocean transport is an absolute lifeline that handles the vast majority of imports and exports. The coal carried by the vessels we manage is converted into electricity, directly powering people's lives. Being involved in the very foundation of daily life gives us a profound sense of social contribution and responsibility every single day.

As part of that responsibility, we place a heavy emphasis on mitigating environmental impact. The HERMES CENTURY is a cutting-edge eco-ship, incorporating advanced shipyard design tech that minimizes water resistance through an optimized hull shape, paired with a highly efficient engine. It achieves exceptional fuel efficiency, significantly reducing CO2 and exhaust emissions. While keeping our sights set on the future shift toward next-generation fuels, we are fully dedicated to maximizing the environmental performance possible today.

Upgrading the Fleet Through Retrofitting and Remote Operational Monitoring

—How does our shipping business leverage its signature discerning eye to reduce environmental impact?

Tashiro: While introducing newbuild eco-ships is critical, we place equal emphasis on eco-friendly updates for our existing fleet already in operation.

Tashiro: Unlike cars or airplanes, a vessel's main engine runs continuously, 24/7, throughout its voyage. Furthermore, because vessels are exposed to harsh saltwater, marine growth easily attaches to the hull, gradually degrading fuel efficiency over time. This makes tight communication with our third-party vessel management companies and crews essential to eliminate the causes of wear through proper daily maintenance.

Tashiro: In addition, we actively pursue retrofitting—a method of improving performance by adding the latest equipment to existing vessels. By investing appropriately in operating vessels to boost engine performance and save energy, we enhance the overall fuel efficiency of the entire hull. The ability to directly tackle global environmental challenges, such as emissions reduction and decarbonization, is a major strength gained by managing our own assets.

"Through proactive retrofitting, we can make a direct contribution to global decarbonization efforts," says Tashiro.

An Only-One Team of Shipping Professionals Powered by Diverse Backgrounds

—What are the most rewarding aspects or memorable moments of working in this business?

Witnessing the delivery of the HERMES CENTURY was truly deeply moving. Having been deeply involved from the initial order phase when the ship was nothing but a concept, seeing that colossal vessel finally completed and powerfully setting sail into the open ocean for the first time gave me a sense of pride that is impossible to put into words.

Egawa

Tashiro

When I am in the office, I always keep the Automatic Identification System (AIS) monitor open to track the real-time position and operational status of our fleet. To maintain a clear chain of command for safe navigation, basic operations are outsourced to specialized vessel management firms. However, as the shipowner, we serve as the control tower that makes the ultimate judgments. Coordinating with numerous stakeholders to make final decisions on weather routing and navigation can be highly challenging. Yet, even while sitting in a Tokyo office, seeing my decisions translate in real time into the course of a massive vessel on the other side of the planet is a dynamic and unparalleled reward unique to this job.

—We understand that both of you come from completely different professional backgrounds. What is the team culture like?

Tashiro

I previously worked as a deck officer at a shipping company, serving aboard LNG and LPG carriers. I transitioned to Tokyo Century because I wanted to build a hybrid set of expertise in maritime finance, which had always interested me, by leveraging my operational experience. The maritime industry is comprised of various players, including financial institutions, shipyards, and shipping operators, but the ultimate goal always converges on one thing: operating ships safely and efficiently. Approaching that shared goal from a different angle is incredibly fascinating.

I spent my first ten years in my career focusing entirely on domestic lease sales at the company. When I was transferred to this division, my knowledge of ships was absolute zero. (Laughs) I started from scratch, learning how these giant vessels connect to our daily lives. As I visited shipyards and experienced the operations firsthand, I became completely captivated by the overwhelming scale of it all.

Our current owned vessel team is built from a highly diverse pool of professionals. We have leasing and finance experts working at Tokyo Century throughout their career like myself, former deck officers like Mr. Tashiro, and mid-career hires from vessel management firms and specialized vessel owning companies, alongside our fresh graduates. It is a highly collaborative and warm team where everyone deeply respects each other's specialized strengths.

Egawa

Bridging Finance and Shipping to Become a One-of-a-Kind Global Partner

—Lastly, what are your goals for the future?

While dry bulk carriers have been our primary focus, we plan to expand our asset portfolio by investing in other vessel types to capture evolving market needs, including environmental demands. Leveraging our ability to provide end-to-end solutions—from finance to vessel ownership—we aim to serve as a comprehensive solution provider anchored in expertise and diversity, becoming an irreplaceable partner that resolves challenges for clients worldwide.

Egawa

Tashiro

There is no other leasing company executing such a full-scale, global vessel ownership business. I want to further enrich our vessel lineup and establish an overwhelming recognition of Tokyo Century as a premier shipowner within the maritime industry. I look forward to further developing this one-of-a-kind, innovative, hybrid framework with many colleagues.

Takehisa Egawa

Takehisa Egawa
Deputy General Manager, Ship Business Division

Egawa joined Tokyo Century as a new graduate in 2001. After spending approximately ten years in domestic lease sales, he transferred to the Ship Business Division in 2010. He has extensive experience in vessel finance, launching the owned vessel business, and managing fleet assets. He has held his current position since 2022.

Goshi Tashiro

Ship Business Division

Tashiro joined Tokyo Century as a mid-career hire in 2023. He began his career at a shipping company, serving as a deck officer on LNG and LPG carriers, before transitioning to onshore roles focused on maritime technological development. At Tokyo Century, he leverages his extensive hands-on operational background to drive the ship business forward.

*The contents of the article and the position titles are as of the date posted.