MOL projects deficit with pressure on container and dry bulk

Japan's Mitsui OSK Lines expects a bigger deficit this year due to effects from the coronavirus pandemic. The shipping company is working with two scenarios.

Photo: MOL Mitsui OSK Lines PR

Japanese shipping group Mitsui OSK Lines, which has activities in container, dry bulk and tanker, projects a bigger deficit this displaced financial year due to the impact of the coronavirus pandemic, writes the company in its annual report for 2019, which ran till the end of March.

The shipping company in 2019 recorded a 6-percent drop in revenue to JPY 1155.4 billion (USD 10.8 billion), while the ordinary income grew 43 percent to JPY 55 billion.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs