Mitsui OSK Lines (MOL) has upped its full year profit forecast for the year ended 31 March 2018 by 20% to JPY12bn ($108.5m) as it forecasts a gradual improvement in most major shipping sectors.

In more signs of a turnaround in the container shipping industry, Cosco Shipping Holdings has given positive profit alert ahead of its first half results, forecasting a net profit of about RMB1.85bn ($271.9m) compared to a net loss of about RMB7.21bn in the previous corresponding period.

Kawasaki Kisen Kaisha (K Line) reported a fall in profit for the first nine months of the year and has revised down its full year profit forecast.

Maersk Group has cut its profit forecast for the year by $600m due to the difficult rate conditions in the container shipping sector.

Rolls-Royce has cut the full year profit forecast for its marine division as it feels the impact of the offshore downturn.