ShippingWatch

NYK Line heralds billion dollar loss after impairments

The challenging market in several of NYK Line's segments now prompts the Japanese carrier to herald a deficit of USD 1.88 billion for the current quarter. This is primarily attributable to one-off impairments on the fleet value.

Photo: PR-foto: G. Assner

Japanese carrier NYK Line is facing a loss in the current quarter of 195 billion yen, or approximately USD 1.88 billion, informs the company in a statement.

The massive loss includes 160 billion yen of one-off impairments on the carrier's fleet, while the other 35 billion yen stem from loan loss provisions related to contracts. Of the total deficit, 160 billion yen concern the container business and 85 billion yen concern dry bulk, while the final 10 billion yen relate to the carrier's aviation division.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs