Japan's MOL heralds huge loss on bulk and container

One of the world's largest carriers, Japanese Mitsui, plans to reform its dry bulk and container business in a move that will trigger a deficit of close to USD 1.5 billion, informs the carrier.

BY OLE ANDERSEN

Published: 29.01.16 at 09:33

Japan's Mitsui O.S.K. Lines will book an extraordinary loss of close to USD 1.5 billion in the current fiscal year, which ends in March 2016, as part of a planned restructuring of the group's dry bulk and container business, informs the carrier in a statement.

In dry bulk, the group plans to reduce its number of major Capesize vessels, the worst-hit segment in the industry, along with other excess tonnage. And MOL will also overhaul and rationalize its container route network as well as reduce its fleet of smaller vessels.

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