© Khunaspix Dreamstime.

In the containership market there was freight rate improvement starting in March. The car carrier business showed improvement as completed car transport from Japan, homeward, and in offshore routes made a solid move. In the dry bulk market, iron ore imports by China were steady, but the market as a whole slumped as a result of massive supply of newbuildings. The environment of marine transportation business was unstable overall due to persistent high fuel oil prices and continued appreciation of the yen.