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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.

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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