NYK, Japan's No 2 carrier, posted an April-to-September net profit of JPY20.5 billion (US$200 million) drawn on 15 per cent more revenue to JPY606.5 billion, thus reversing the company from last year's net loss of JPY4.1 billion,
The world's 12th largest carrier said its increase in both operating and recurring profits was due to "yen depreciation and lower bunker price", adding that "improved valuation and gain from sale of investment securities led to net profit."
Looking ahead, NYK said it expected an increase in cargo volume on both transpacific and Asia-Europe trades.
For the transpacific trade, the full-year forecast ending March 31 will be increased to 662,000 TEU for lifting volume, up six per cent year on year. For Asia-Europe route, the volume is expected to remain almost the same at 509,000 TEU by the end of March from 508,000 TEU a year ago.
Also, it projected freight rates for both transpacific and Asia-Europe routes will remain soft in the upcoming six months ending March 31.
WORLD SHIPPING
31 October 2013 - 21:19
NYK reverses loss into US$200 million profit, revenues increase 15pc
NYK, Japan's No 2 carrier, posted an April-to-September net profit of JPY20.5 billion (US$200 million) drawn on 15 per cent more revenue to JPY606.5 billion, thus reversing the company from last year's net loss of JPY4.1 billion.
WORLD SHIPPING
31 October 2013 - 21:19
NYK reverses loss into US$200 million profit, revenues increase 15pc
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