'K' Line back in black with US$71.5 million profit as sales decline 13.6pc
JAPAN's Kawasaki Kisen Kaisha Line 'K' Line reversed itself from last year's first quarter US$248
JAPAN's Kawasaki Kisen Kaisha Line 'K' Line reversed itself from last year's first quarter US$248.87 million loss to achieve net profit this year of JPY7.78 billion yen (US$71.5 million), drawn on revenues of JPY 183.31 billion, down 13.6 per cent year on year.
'K' Line together with fellow Japanese shipping giants, NYK and MOL, have long since consigned their container business to the jointly owned Ocean Network Express (ONE).
Quarterly dry bulk revenues declined 14 per cent to JPY9.1 billion. LNG carrier, oil tanker and thermal coal bulker revenues were flat at JPY 20.2 billion. Product logistics sales also returned to quarterly profit at JPY98.7 billion.
The company operates 489 vessels of 40,942,690 deadweight tonnes. The company operates 199 dry bulk carriers, 27 thermal coal carriers, 48 liquefied natural gas carriers, 20 oil tankers, 85 car carriers, 47 containerships and numerous other vessels such as offshore support craft, short sea and coastal ships.