JOC Staff | Jan 31, 2013 3:18PM EST
Japanese ocean carrier “K” Line reported profit in the nine months ending Dec. 31, 2012, was 9.4 million yen (about US$102.9 million), up from a net loss of $461.5 million during the same period in 2011.
From April to December 2012, operating revenue was $8.8 billion, compared with $8.0 billion during the same time the previous year.
The container ship segment posted a profit of $31.7 million from April to December 2012, rising from a net loss of $313.1 million from April to December 2011. Container ship revenue in the first three quarters of fiscal year 2012 was $4.3 billion, up from $3.9 billion in 2011.
The number of loaded containers transported by “K” Line from April to December 2012 increased 22 percent year-over-year on both eastbound and westbound Asia-North America routes and about 5 percent on Asia-Europe routes. The company also downsized transportation operations on unprofitable south-north routes, with a resulting 13 percent decrease in the number of loaded containers transported by the group on the routes. Overall, “K” Line transported about 5 percent more loaded containers than in the same period the previous year.
