{"id":1833,"date":"2017-04-28T23:52:58","date_gmt":"2017-04-28T16:52:58","guid":{"rendered":"http:\/\/www.vtrlogistics.com.vn\/?p=1833"},"modified":"2017-04-28T23:52:58","modified_gmt":"2017-04-28T16:52:58","slug":"nyk-k-line-end-year-in-losses-mol-delivers-profit","status":"publish","type":"post","link":"https:\/\/www.vtrlogistics.com.vn\/?p=1833&lang=en","title":{"rendered":"NYK, K LINE END YEAR IN LOSSES, MOL DELIVERS PROFIT"},"content":{"rendered":"

Japanese Big Three shipping companies have posted mixed financial results for the fiscal year ended March 31, 2017, as only\u00a0Mitsui O.S.K. Lines (MOL)\u00a0wrapped up the year with profits.<\/strong><\/span><\/p>\n

The worst hit was the Nippon Yusen Kabushiki Kaisha (NYK Line) which saw\u00a0a net loss of JPY 265.7 billion at the end of the year, compared to a net income of JPY 18.2 billion reported in the previous fiscal year.<\/span><\/p>\n

The company\u2019s revenues for the period were down to JPY 1.92 trillion from JPY 2.27 trillion reported a year earlier, while its operating\u00a0loss stood at JPY 18 billion, compared to an operating income of JPY 48.9 billion seen in the fiscal year 2016.<\/span><\/p>\n

Although the overall freight rate market showed a gentle recovery from the historically low levels at the beginning of the year 2016,\u00a0business performance<\/span>
\ndeclined year on year, NYK Line\u2019s compatriot Kawasaki Kisen Kaisha (K Line) said.<\/span><\/p>\n

On the back of such business environment seen in the shipping industry, K Line informed that its loss widened during the year, reaching JPY 139.4 billion, compared to a loss of JPY 51.4 billion seen in the period ended March 31, 2017.<\/span><\/p>\n

Additionally, K Line said that its revenues for the year dropped to JPY 1.03 trillion from JPY 1.24 trillion, while it reported an operating loss of JPY 46 billion, compared to an operating income of JPY 9.4 billion in fiscal year 2016.<\/span><\/p>\n

\u201cIn the containership business, cargo movements shifted to an upward trend in the second-half of the fiscal year, mainly in the East-West services; however not sufficient to recover the slump in the freight market at the beginning of the fiscal year and loss increased year-on-year,\u201d<\/em> K Line said.<\/span><\/p>\n

The dry bulk market has also lifted out of the historically low levels at the start of the year and \u201cis on a course for recovery.\u201d<\/em> While the vessel supply-demand gap is on the way to improve, \u201cthe market conditions were weighed down.\u201d<\/em><\/span><\/p>\n

K Line informed that it worked on measures to improve profitability, however, \u201cbusiness performance\u00a0<\/em>declined year-on-year.\u201d<\/em><\/span><\/p>\n

\"\"<\/span>
Image Courtesy: Hamburg Hafen<\/span><\/figcaption><\/figure>\n

Out of Japan\u2019s Big Three shipping firms, MOL was the only to end the fiscal year\u00a0with a net\u00a0income, despite a decrease in its revenues.<\/span><\/p>\n

Namely, the shipping firm\u2019s net income stood at JPY 5.2 billion, bouncing back from a net loss of JPY 170.4 billion seen in the previous year.<\/span><\/p>\n

While the company\u2019s operating profit reached JPY 2.5 billion, remaining almost the same as a year earlier,\u00a0MOL\u2019s revenues dropped to JPY 1.5 trillion from JPY 1.71 trillion\u00a0in the respective periods.<\/span><\/p>\n

\u201cLooking at the maritime shipping market conditions, the dry bulkers experienced intensive chartering activities by major shippers in western Australia and an increase in the volume of coal imports in China, allowing to avoid a record low hit in the fourth quarter of the previous fiscal year,\u201d<\/em> MOL said.<\/span><\/p>\n

The company added that, although the dry bulker market continued to experience suppression of market rises, in late 2016, firm iron ore shipments from major ports in Brazil and increased North American grain shipments pushed the market to once again rise and exhibit an overall trend of recovery.<\/span><\/p>\n

Looking at the current fiscal year ending March 31, 2018, MOL\u00a0said that its expects its profit to reach JPY 10 billion. Similarly, the company\u00a0forecast a rise in its operating profit which could reach JPY 9 billion, while its revenue is now expected to increase to JPY 1.61 trillion for the fiscal year from April 1, 2017 to March 31, 2018.<\/span><\/p>\n

World Maritime News Staff<\/span><\/p>\n

Source:\u00a0http:\/\/worldmaritimenews.com\/<\/em><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Japanese Big Three shipping companies have posted mixed financial results for the fiscal year ended March 31, 2017, as only\u00a0Mitsui O.S.K. Lines (MOL)\u00a0wrapped up the year with profits. The worst hit was the Nippon Yusen Kabushiki Kaisha (NYK Line) which saw\u00a0a net loss of JPY 265.7 billion at the end of the year, compared to …<\/p>\n","protected":false},"author":2,"featured_media":1811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95,75],"tags":[864,348,866,862,868],"acf":[],"_links":{"self":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/1833"}],"collection":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1833"}],"version-history":[{"count":2,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/1833\/revisions"}],"predecessor-version":[{"id":1835,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/1833\/revisions\/1835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/media\/1811"}],"wp:attachment":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}