JAPANESE big three carriers, MOL, NYK and "K" Line suffered common losses of more than US$500 million from October to December or the third quarter of their fiscal year 2011 ending March 31, 2012 due to low demand, soft rates, appreciating yen, high oil prices and oversupply problems.
MOL, the world's 10th largest carrier, posted an operating loss of $155
million in its container shipping business between October and December
compared to a $98 million profit during the same period last year,
reported American Shipper, adding that the liner revenue declined 9.7
per cent year on year to $1.7 billion in the same period.
NYK, the world's 12th largest carrier, experienced a liner operating
loss of $173 million from October to December, reversing a $91 million
profit in the same period of 2010. Container revenue declined 9.6 per
cent to $1.3 billion.
"K" Line, the world's 15th largest carrier, suffered a $173 million
operating loss on container shipping in the last quarter compared to a
$69 million profit a year earlier, adding that its container shipping
revenue dropped 11 per cent to $1.2 billion.
None of the Japanese big three carriers released container volume figures.