A K Line vessel serving its long term contract with Emirates Global Aluminium (EGA) recently became the first fully laden capesize bulker to call a GCC port.
U-Ming, Taipower, K Line and Kuang Ming are to form a joint venture to ship coal and LNG.
Proxy-advisor firm Institutional Shareholder Services (ISS) has called on shareholders of Japanese shipowner K Line to vote against the re-election of its chairman and president at its upcoming annual general meeting.
Hit by losses from cancelled containership and bulk carrier charter contracts K Line reported a massive JPY111.1bn ($1bn) loss for FY18, end 31 March 2019.
New management will take the helm at Japanese shipowner K Line at the start of April next year as the company celebrates its 100th anniversary.
Container line joint venture Ocean Network Express (ONE) dragged down all of Japan’s big three shipowners in the first half of FY2018 with both NYK and K Line in the red.
New Japanese container line joint Ocean Network Express (ONE) is forecast to lose $600m in its first year of operation with lower than expected volumes caused by issues with its IT systems and higher than expected fuel costs.