JAPAN's Kawasaki Kisen Kaisha, or "K" Line,
posted a year-on-year net loss of JPY331.88 million (US$3.01 million)
for the first nine months of 2019, drawn on revenues of JPY567.1
million, down 11.1 per cent.
Of it's containership business, taken
over by Singapore-based Ocean Network Express (ONE), "the company's
recovery of the liftings and the space utilisation, improvement of the
freight rate of long-term contracts in North America dominated services.
ONE overall recorded a year-on-year increase and turned a profit," said
the "K" Line statement accompanying the results.
"Regarding the containership business remaining in the company, a
year-on-year decrease in revenue was recorded, but a loss was narrowed
due to a decrease of the temporary losses occurred by the business
transfer. As a result, the overall product logistics segment recorded a
year-on-year decrease, but profit increased," it said.
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