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You are here: Home → Archive → 2009 → July → 28 → Grim outlook as Japanese lines forecast big losses

Grim outlook as Japanese lines forecast big losses

by Marcus Hand - Lloyd's List — last modified Jul 28, 2009 12:24 PM

Japan's big three shipping companies all sank into the red in the first quarter of the year with NYK and K Line now forecasting full-year losses.

  
Grim outlook as Japanese lines forecast big losses

K Line expects full year loss of ¥31bn

For the first quarter of the financial year (April 1 to June 30) Mitsui OSK Lines reported a loss of ¥13bn (US$136.4m) compared with a ¥55bn profit a year earlier, NYK posted a ¥18.9bn first-quarter loss against a ¥44.3bn profit...

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