Japan's NYK cuts guidance for 2015

Japanese bulk carrier Nippon Yusen (NYK) has cut back on its outlook for 2015. Expectations for operating profit for the year are lowered by 11 percent, amounting to more than half a billion dollars, Bloomberg News reports.

Japan's Nippon Yusen (NYK) is cutting its full-year guidance. Expectations for operating profit for 2015 have been lowered by 11 percent to JPY 75 billion or more than USD 620 million, reports Bloomberg News.

The Japanese bulk giant has announced its report for the second quarter of fiscal year 2015/2016. The numbers reveal that NYK is feeling the same kind of heat as Denmark’s Maersk Line, with both the Chinese market and weak demand in Europe affecting operations.

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