Subscribe to RSS feedMOL forecasts box unit losses
JAPANESE shipping line Mitsui OSK Lines expects its container unit will remain unprofitable over the next two years on signs of rising global capacity and slowing world trade, which is dampening rates. MOL executive vice-president Masakazu Yakushiji said that the container unit would make a loss in the year to March 31, 2011, but he said it might be able to return to profit in the following year should rates rise. The container unit, which contributed 34% to MOL’s revenue, has planned to cut costs by 30% next fiscal year and delay new vessels.
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