View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
November 1, 2009

NYK Could Halve Box Fleet

A fall in market demand has forced Nippon Yusen Kaisha (NYK) shipping line to consider reducing its box ship fleet. The company's fleet of 120 vessels could be cut to nearly 60. The Japanese group is not expected to renew its chartered tonnage contracts and will scrap 21 shi

By cms admin

A fall in market demand has forced Nippon Yusen Kaisha (NYK) shipping line to consider reducing its box ship fleet.

The company’s fleet of 120 vessels could be cut to nearly 60.

The Japanese group is not expected to renew its chartered tonnage contracts and will scrap 21 ships.

NYK reported a $280m pretax loss, which was expected to rise to $370m for the full year.

NYK said it has implemented a number of cost saving mechanisms including vessel lay ups and rate increases on lucrative routes.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology