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.