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.

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