NYK president sees rising demand in shipping market

NYK president sees rising demand in shipping market    Koji Miyahara, president of the NYK group, said the increasing number of consumers around the world will generate a steady demand for the transportation of goods by sea.
   The expansion of the “intermediate strata of consumers” over the past several years has been “particularly conspicuous in China,” Miyahara said in a letter to NYK staff. “In other areas as well, such as other parts of Asia, Middle and Eastern Europe, and Latin America, the strata of intermediate consumers are expanding steadily.”
   As a consequence of this trend, cargo movements, including large quantities of consumer goods, resources, raw materials and food, are expanding on a global scale, according to the Japanese executive. He expects this trend to continue.
   “It appears unlikely that the booming shipping market as we see it today will collapse drastically in the immediate future,” Miyahara predicted. NYK is involved in the liner, car-carrier and bulk sectors of shipping, as well as in logistics.
   NYK expects to report record profits for its financial year ending March 31.