JAPAN's No 3 container carrier Kawasai Kisen Kaisha ("K" Line), posted a 61.1 per cent year-on-year increase in net profit in fiscal year 2014 to JPY26.8 billion (US$223.1 million) drawn on revenues of JPY1.3 trillion, an increase of 10 per cent.
The global economy continued a along a gradual recovery trend with a continued economic recovery in the US. The Japanese economy is on a recovery trends although there were some temporary falls in public expenditure," said the "K" statement accompanying the results.
In the container segment, "K" Line's cargo increased four per cent in the course of a year.
"Cargo volumes were up six per cent year on year on the Asia-North America service, eight per cent on the Asia-Europe service and three per cent intra-Asia, but declined six per cent north-south.
"Freight rates remained stable mainly on the Asia-North America service and with the effect of falling oil prices, the group recorded a year-on-year increase in revenues and went into the black," the company statement said.
WORLD SHIPPING
04 May 2015 - 17:50
'K' Line annual profit up 61pc to US$223.1 million as revenue rises 10pc
JAPAN's No 3 container carrier Kawasai Kisen Kaisha ("K" Line), posted a 61.1 per cent year-on-year increase in net profit in fiscal year 2014 to JPY26.8 billion (US$223.1 million) drawn on revenues of JPY1.3 trillion, an increase of 10 per cent.
WORLD SHIPPING
04 May 2015 - 17:50
'K' Line annual profit up 61pc to US$223.1 million as revenue rises 10pc
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