K-Line projects massive loss following dry bulk scaledown

Japan's K-Line expects additional losses for 2015. The Chinese slowdown has developed worse than projected, and the Japanese group is now trimming is fleet of small and medium-sized vessels.

Photo: K Line

The decline in Chinese imports and the general slowdown in the country has developed worse than initially expected, and this fact is now spurring Japanese carrier K-Line to once again downgrading its projected result for the fiscal year 2015, which ended on March 31st. This marks the second time in just a few months that the carrier, which operates in container as well as dry bulk, finds itself forced to downgrade its forecast. This time to a projected net deficit of 50 billion yen, corresponding to USD 445.5 million.

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