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K Line accuses APL Logistics of spreading false bankruptcy rumours

Kawasaki Kisen Kaisha (K Line) has accused APL Logistics of starting malicious bankruptcy rumours. In a note sent to clients seen by Splash, K Line described the claims of its financial woes as “unfounded” and “false”.

K Line has met with the logistics firm and the latter has promised to send out a note to its clients correcting the false rumours.

K Line said it was also looking at legal options stemming from the damage done by the accusations.

“Our financial condition is sound,” K Line stressed in a statement (pictured below).

APL Logistics, formerly part of Neptune Orient Lines (NOL), was bought by Japan’s Kinetsu Express last year.

Earlier this week, a report carried by Shanghai Metals suggested K Line would file for bankruptcy protection within the next two weeks.

 

kline-statement-copy

 

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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