K Line has been able to exceed its interim profit forecasts from the summer and last year’s results by a substantial manner. Figures released Friday by the smallest of Japan’s big three shipowners showed K Line achieved net income of JPY 21.2bn ($193.5m). K Line container shipping saw revenues increase by 12% to JPY 329.5bn, while net income for the division increased six-fold to JPY 9.5bn.
K Line Bulk shipping, which includes tankers and bulkers, increased by only 5.4% to JPY 292.5. Net income declined 20% to JPY 17.5bn. “We successfully increased income by working for cost cutting and improvement of vessel navigation efficiency,” K Line said.
Dry Bulk Shipping News - Shipbroker Notes