Reklam
Reklam
Reklam
Reklam
Reklam

NYK back in black, suffers slow US recovery, EU slump darkens prospects

JAPAN's third largest ocean carrier NYK has posted a first quarter JNY8.5 billion (US$86.6 million) net profit year on year, drawn on revenues of JNY528.4 billion, up 10 per cent, after the company reversed from a JNY1.3 billion loss in 2012.

NYK back in black, suffers slow US recovery, EU slump darkens prospects
31 July 2013 - 21:23

NYK back in black, suffers slow US recovery, EU slump darkens prospects

JAPAN's third largest ocean carrier NYK has posted a first quarter JNY8.5 billion (US$86.6 million) net profit year on year, drawn on revenues of JNY528.4 billion, up 10 per cent, after the company reversed from a JNY1.3 billion loss in 2012.

"In the first quarter of the fiscal year ending March 31, the global economic situation remained clouded in uncertainty," said a statement accompanying the results.

"Although there were signs of moderate economic recovery in the United States, the European economy continued to be sluggish and growth in China, India and other economies slowed," the statement said.

The shipping industry remained in a slump during the period due continued supply-demand imbalance caused by excess supply, said the statement.

In the liner shipping division, cargo volume slumped on transpacific and Asia-Europe routes and freight rates decline on all routes as supply side pressure increased amid the continued delivery of large container vessels, which causes an increase of larger size vessels on other routes.

"Domestic and overseas container terminals total handling volume increased compared with the same period of the previous fiscal year. As a result the segment's revenue increased slightly year on year with a recurring loss relatively unchanged over the same period in the previous fiscal year," NYK said.

This news 6672 hits received.

COMMENTS

  • 0 Comment