Top three Japanese ocean carriers suffer big losses

JAPAN`s major carriers NYK, MOL and "K" Line have all announced major losses for the first half of their fiscal years ending September 30.
"K" Line announced a loss of US$469.6 million in the first half from a first half revenue of $4.4 billion, down 46 per cent year on year. This result stood against last year`s first half profit of $555 million.
MOL announced a loss $108 million in the first half year from $6.9 billion in revenue, down 43 per cent - against a $1.4 billion first half profit last year.
NYK announced a loss of US$318.7 million for the first half, compared to a profit of $991 million in last year`s corresponding period.
While MOL continues to predict full-year profit, NYK and "K" Line expect more losses ahead this fiscal year.