Japanese carriers are in a downgrading frenzy

Mitsui OSK (MOL), Nippon Yusen (NYK), and Kawasaki Kisen (K-Line) are all downgrading their forecasts for 2016/2017, according to interim reports released Friday.

Photo: MOL Mitsui OSK Lines PR

The second quarter of 2016 has been tough on the three major carriers in Japan; Mitsui OSK, Nippon Yusen, and Kawasaki Kisen, also known as MOL, NYK, and K-Line.

The three carriers are active in several shipping segments and compete with players such as Maersk Line, MSC and CMA CGM in container shipping.

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