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You are here: Home → Archive → 2009 → July → Weekly Edition 30th of July 2009 → Further losses loom for Japanese trio

Further losses loom for Japanese trio

by Marcus Hand, Singapore — last modified Jul 30, 2009 06:16 PM

JAPAN’s big three shipping companies all sank into the red in the first quarter of the year, and NYK and K Line are now forecasting full-year losses.

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...

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