View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
November 5, 2009

Nippon Yusen Could Halve Fleet Expansion

Japan's Nippon Yusen Kabushiki Kaisha (NYK) could halve its fleet expansion programme following losses forecast for the 2009 fiscal year. The company recently predicted its loss forecast for 2009 from $55m to $297m. The company has reduced its vessel acquisition budget to $9b

By cms admin

Japan’s Nippon Yusen Kabushiki Kaisha (NYK) could halve its fleet expansion programme following losses forecast for the 2009 fiscal year.

The company recently predicted its loss forecast for 2009 from $55m to $297m.

The company has reduced its vessel acquisition budget to $9bn which will be spent in three years, ending March 2014.

According to NYK, demand in marine services from European and US markets has declined following the global economic slowdown.

Kawasaki Kisen Kaisha shipping firm in Japan has also increased its loss forecast from $340m to $870m for the year ending March 2010.

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