The Japanese ocean carriers MOL and NYK line suffered more than $300 million in collective losses from October through December, while “K” Line’s third-quarter loss passed $400 million, according to financial statements released Tuesday.
MOL’s liner division incurred $155 in losses in its financial year third quarter (October through December).
That was a huge change from the $98.4 million in profits the line made in the same period in 2010. Fiscal year third-quarter liner revenue fell 9.7 percent year-on-year to $1.7 billion.
For the first three quarters of the financial year (April through December), liner losses were $297 million. Revenue fell 9.1 percent to $5.3 billion.
NYK Line, meanwhile, had liner operating losses of $173 million in the October-December period. That was compared to a $91 million profit in the same quarter in 2010. Liner revenue in the third quarter fell 9.6 percent year-on-year to $1.3 billion.
NYK didn’t release year-to-date figures for liner revenue or profits/losses.
“K” Line said it fiscal year-to-date (April through December) liner operating losses were $409.3 million, compared to a $384.9 million profit in the second period in 2010. Liner revenue in its first three quarters was $3.9 billion, down 12.3 percent from the corresponding period in 2010. “K” Line didn’t release third-quarter revenue or profit/loss information.
None of the lines released container volume information. — Eric Johnson
Japanese lines suffer in last quarter of 2011
