OOCL gains market share in Q1, with 'very strong' financials unveiled by Cosco
Volumes carried by Cosco-owned container line OOCL in the first quarter soared, compared with the ...
By Mike Wackett
Cancelling the charter parties of containerships and bulkers will cost Japan’s K Line ¥560bn ($5bn).
The line has announced it will list the charge in its accounts for the year ending 31 March.
K Line said it was also a reflection of “weakening market conditions” in the dry bulk sector.
The extraordinary losses were a consequence of returning 25 ships to owners earlier than the agreed expiry period of the charter.
Moreover, K Line said it would make a further provision of ¥15bn for costs ...
Comment on this article
Robert Jervis
March 08, 2019 at 2:58 pmisn’t 560 billion yen about 4 billion sterling?
Alex Lennane
March 08, 2019 at 3:05 pmIndeed it is. Thanks for being eagle-eyed – we have now corrected it.