Japanese shipping group K Line, commanding, among other things, a one-third stake in container carrier ONE, is facing the strongest financial year ever in 2023, K Line chief exec Yukikazu Myochin predicts in a New Year message to the group’s employees.

”Financial results for the current fiscal year are expected to be the best ever,” writes Yukikazu Myochin in the newsletter where he refers to promising outlooks as a partial result of last year’s effort to reduce costs.

”In the dry bulk segment, energy resource transportation segment, and product logistics segment, including car carrier business, the efforts made in the previous fiscal year to restore cost competitiveness through structural reforms are bearing fruit,” the CEO writes.

Bulk and car carrier businesses were highly lucrative in 2022. The same can be said for container segments facing, however, more uncertainties in the future. That also applies to dry bulk markets which may suffer from current coronavirus surges in China.

K Line runs a fleet of bulk and car carriers apart from its stake in container carrier ONE, owned by K Line together with Mitsui OSK Lines and NYK Line.

English edit: Simon Øst Vejbæk

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