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NYK Lines has reported a shipping revenue fall of 36.5% in 2009 due to a fall in global cargo shipments. The company said its container businesses also reported a loss of JPY55bn ($588m) during the year, double that of 2008. NYK posted a net loss of JPY17.7bn ($187.5m) for its fis
NYK Lines has reported a shipping revenue fall of 36.5% in 2009 due to a fall in global cargo shipments.
The company said its container businesses also reported a loss of JPY55bn ($588m) during the year, double that of 2008.
NYK posted a net loss of JPY17.7bn ($187.5m) for its fiscal year ended 31 March compared to a loss of JPY52.5bn ($556m) a year earlier.
NYK said its car carrier business recovered to 70% of its pre-crash level while its revenues fell by 32.5% and recurring profits fell by more than two-thirds to JPY36.6bn ($391m).
NYK’s contract logistics and forwarding business was also hit with revenues down 23.7%.
Corrosion-Free Piping Systems for Ships
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