Major Japanese container shipping lines in freefall

Japan’s big-three shipping lines recorded dire performances for the nine months to January, with Nippon Yusen Kaisha (NYK) grabbing the headlines with a $1.99bn loss. Over at K-Line, things fared little better, with Splash 24/7 reporting a year-on-year loss of $468m for the carrier. Mitsui OSK Lines (MOL) had a little less to feel glum about, as it saw profits increase $163m compared with last year, but yet again this year it has revised downwards its full-year forecast, from $61m to zero.