Kawasaki Kisen Kaisha (K Line) reported a $457m loss for the financial year ended 31 March 2016, and expects the coming year to be unprofitable as well. The JPY51.5bn ($457m) loss for FY2015 compared to a profit of JPY26.8bn profit in FY2014. Revenues in FY2015 also fell to JPY1.24trn against JPY1.35trn in the previous year. The loss resulted from the restructuring of K Line’s dry bulk business with the company accelerating the rationalisation of its dry bulk fleet focusing on the smaller-to-medium sizes.
