Asia

No change in shipping fortunes until 2018: NYK president

In an interview with Nikkei, the leading Japanese business daily, Tadaaki Naito, the president of Nippon Yusen Kaisha (NYK), one of the world’s largest shipping lines, has warned there will be no turnaround in shipping fortunes until 2018 at the earliest.

NYK will face a “tough earnings climate through the year ending March 2018”, Naito predicted.

NYK suffered a Y195bn ($1.87bn) extraordinary loss for the first half.

“The impact of contracts signed during the market slump will be felt beyond the second half of the fiscal year,” Naito added.

Come the start of fiscal 2018, Naito said the company’s offshore resource development and LNG carrier sectors would help drive revenues in a more positive direction.

Tags

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.
Back to top button
Close
Close