News / 'Sluggish' container trades drag Japanese shipping lines into the red

First-quarter results from Japanese carriers K Line, MOL and NYK were dragged down by a weak container market, their box businesses dragging down more profitable operations.

K Line lost ¥26.8bn ($260m) in the three months to June 30, compared with an ¥10.2bn profit in the same period of 2015.

But while its bulk division performed badly, losing ¥7.3bn, the biggest loss came from container business – ¥12.3bn – a 16.5% reversal on the previous year.

“The average freight rate of the group fell below previous year levels across ...