Fuel costs hit ôKö LINE results
The 'K' LINE Group said this week that steep rises in fuel prices have hit the company's operating income in the first three months of its fiscal year, which ended Dec. 31.
The ocean carrier said its operating income dropped 16.6 billion yen ($140.8 million) to 69.2 billion yen ($587 million) from the same period a year ago. However, operating income increased 68 billion yen ($577 million) over the third quarter performance in the last fiscal year, to 689 billion yen ($5.8 billion).
'K' LINE also said that despite sluggish growth in housing demand related goods, cargo movement to North America grew 16 percent through the first three quarters of the ye