Japan’s Big 3 lose $1.9 billion

Japan’s Big 3 lose $1.9 billion    Japan’s big three container lines collectively lost $1.9 billion in 2009, the carriers said in financial statements Tuesday.
   NYK Line’s liner shipping business lost $553 million in fiscal year 2009 (which for the Japanese lines runs from April 1 through March 31). That’s compared to a $260 million operating loss in 2008. Revenue for NYK shrank 36.5 percent to $4 billion.
   “K” Line’s liner division lost $717 million, an increase of 79.6 percent on its loss in 2008. Revenue fell 31.3 percent to $3.9 billion. “K” Line is forecasting a profit for its container business of $53 million in 2010 on $4.5 billion in revenue.
   MOL said Tuesday it incurred an operating loss of $628 million in its fiscal year 2009, a 148 percent increase in loss from the previous fiscal year. Revenue for the container line fell 31.9 percent to $5 billion.
   MOL said it is expecting its container business to turn a profit in the current fiscal year, with projections of $74.9 million in operating profits on $5.9 billion in revenue.
   None of the carrier released details about container volume in the last fiscal year.