NYK back in the black with quarterly profit rising to US$84.10 million

JAPANESE shipping giant Nippon Yusen Kabushiki Kaisha (NYK) second quarter net profit JPY9.14 billion (US$84.10 million) up from a year-on-year loss JPY4.59 billion. Operating profit swung from a JPY8.12 billion loss to a JPY5.47 billion gain, a 67.4 per cent increase to JPY13.6 billion.

Container shipping fell 35.2 per cent to JPY51.9 billion in the first quarter of the 2019 financial year.

Air cargo revenue was down by 18.3 per cent to JPY17.7 billion. Logistics revenues fell 9.7 per cent to JPY117.7 billion.

NYK's bulk shipping revenues were down 5.5 per cent to JPY195.1 billion. Recurring profits were down by JPY1.2 billion to stand at JPY9.2 billion.

WORLD SHIPPING