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.
BY KATRINE GRØNVALD RAUN
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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