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'K' Line enjoys US$116.8 million profit as revenue rises 17.9pc
来源：shippingazette.com 编辑：编辑部 发布：2017/11/01 09:07:45
JAPAN's "K" Line was back in the black mid-way through its financial year with a profit of JPY13.17 billion (US$116.8 million) after last year's first half net loss of JPY50.4 billion. This year's result was drawn on revenues of JPY578.9 billion, which increased 17.9 per cent year on year.
The containership segment revenues increased 23.3 per cent in the first half year on year to JPY304.4 billion, producing a profit JPY9 billion.
This was followed by bulk shipping which posted a 15 per cent revenue increase to JPY250.9 billion and a profit of JPY2.7 billion.
"K" Line said that US consumption declined temporarily because of the impact of hurricanes, but the economy continued to grow.
"In Europe, where concerns over political risk eased somewhat, private consumption stayed firm and exports increased.
"Among emerging countries, some economies, including India, staged a recovery due mainly to export growth, propped up by economic recovery in developed countries," said the "K" Line statement.
"As for the business environment for the shipping industry freight rates bottomed out in the containership business as cargo movements in east-west services remained firm," it said.
"Container handling volume grew about two per cent year on year in Asia-North America services. In north-south services volume declined two per cent due to the termination of South America-east coast services.
"Consequently, the group's overall handling volume increased six per cent year on year. As freight rates bottomed out due to a moderate recovery in the supply-demand balance, recorded year-on-year growth in revenue and returned to profitability from a loss in the same period last year," said the company statement.
The containership segment revenues increased 23.3 per cent in the first half year on year to JPY304.4 billion, producing a profit JPY9 billion.
This was followed by bulk shipping which posted a 15 per cent revenue increase to JPY250.9 billion and a profit of JPY2.7 billion.
"K" Line said that US consumption declined temporarily because of the impact of hurricanes, but the economy continued to grow.
"In Europe, where concerns over political risk eased somewhat, private consumption stayed firm and exports increased.
"Among emerging countries, some economies, including India, staged a recovery due mainly to export growth, propped up by economic recovery in developed countries," said the "K" Line statement.
"As for the business environment for the shipping industry freight rates bottomed out in the containership business as cargo movements in east-west services remained firm," it said.
"Container handling volume grew about two per cent year on year in Asia-North America services. In north-south services volume declined two per cent due to the termination of South America-east coast services.
"Consequently, the group's overall handling volume increased six per cent year on year. As freight rates bottomed out due to a moderate recovery in the supply-demand balance, recorded year-on-year growth in revenue and returned to profitability from a loss in the same period last year," said the company statement.