NYK’s full year result represented a substantial turnaround from the previous year ended 31 March 2012 when it racked up losses of JPY78bn. Revenues increased slightly by 4.9% last year to JPY1.89trn up from JPY1.81rtn in the previous financial year.
NYK’s results were helped by a company wide implementation of slow steaming, other bunker saving measures and a project to reduce operating costs and increase competitiveness.
Looking ahead the company said: “The container vessel, dry bulk carrier, and VLCC performance are all expected to be impacted by the ongoing slump in shipping market. NYK Line plans to respond with significant cost reductions, including company-wide bunker-saving campaign, reduced fixed costs through rationalisation of services in the liner trade, and the expansion of optimal economical ship operations.” However, there was a more positive outlook for its car carrier and LNG segments.
NYK is forecasting a higher net profit of JPY27bn for financial year ended 31 March 2014, with revenues of JPY2.09trn.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
