Despite reporting a profitable second quarter, the Japanese container carrier has reduced its full-year earnings forecast by nearly one-third, citing concerns over a worsening global economic environment and an expected increase in bunker costs.
Thursday August 13, 2020
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NYK Line
NYK Line
NYK Line, or Nippon Yusen Kaisha, is headquartered in Tokyo, Japan. The company offers services from global logistics to bulk shipping. NYK Line was founded in 1870 as Tsukumo Shokai Shipping and is the world’s 12th-largest shipping line.
NYK Line currently operates more than 800 vessels including container ships, woodchip carriers, car carriers, LNG carriers and reefer carriers. Its container ship fleet comprises more than 150 vessels, both owned and chartered, with a total capacity of more than 450,000 TEUs (20-foot-equivalent units). The company has 240 offices in 27 countries.
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Aug 20, 2020 2:00PM EDT
Aug 31, 2020 2:00PM EDT
Press Releases
16 Sep 2019
Container carriers in the slowing US import and export trades are exercising increased discipline, maintaining capacity levels rather than introducing new vessels in an attempt to secure a larger share of the market.
13 Sep 2019
The larger container ships global carriers are starting to deploy in intra-Asia trades are putting pressure on specialist feeder lines already dealing with bad weather, port congestion, and shifting trade patterns.
25 Jun 2019
The shipping sector is lacking investments in effective carbon reducing technologies, threatening to miss IMO 2050 targets for decarbonization, according to a recent report from CDP.
26 Apr 2019
The merged container operations of Japan's three largest ocean carriers got off to a dismal start as it launched operations in April 2018, which helped drag down revenue.
29 Mar 2019
Container lines with the financial muscle — or state backing — are forging ahead with strategies aimed at controlling a greater portion of the container supply chain.
16 Oct 2018
The ocean carrier — which launched in April and comprises “K” Line, MOL, and NYK Line — said in its half-year earnings report that it collectively expects to lose $310 million in the first half of the year, on revenue of $5.03 billion.
10 Sep 2018
The Top 5’s losses were driven exclusively by shippers shunning the Ocean Network Express, and there was another shipper trend that provides an insight regarding how shippers responded to alliances.
24 Aug 2018
Like much of global trade, pent-up demand and emerging market country development, among other economic fundamentals, bode well for the roll-on, roll-off sector’s growth prospects in the immediate years ahead, if the threat of tariffs subsides.
01 Aug 2018
NYK attributed Ocean Network Express’s initial loss to administrative problems resulting from “inefficient employee familiarization with the systems and insufficient preparation for the administrative processes.”
15 Jun 2018
Having filled staff shortages at its US call centers and improved data integrity, the new Japanese liner company Ocean Network Express is providing beneficial cargo owners with the level of service they rightfully demand, but CEO Jeremy Nixon said carriers will struggle to implement meaningful peak-season surcharges this fall.
27 Apr 2018
All three carriers in Ocean Network Express highlighted the supply-demand balance as having an influence on container industry financials, with freight rates stronger than during the previous year but lower than expected.
31 Jan 2018
The improving container shipping market is reflected in the nine-month financial results of Japan's big three carriers.
18 Jan 2018
The last piece of the regulatory puzzle has fallen into place for Ocean Network Express, clearing the way for its global April 1 launch.
31 Oct 2017
The improved performance came amid preparations by the three companies to merge and operate as a single company.
17 Oct 2017
The landside ability of the supply chain to handle volume generated by mega-ships must improve before carriers can achieve the lower unit costs their deployment promises.
16 Oct 2017
Ocean Network Express CEO and 2017 TPM Asia Panelist Jeremy Nixon provides JOC.com with an exclusive update on the progress of merging Japan's Big Three container lines.
14 Sep 2017
US maritime regulators on Thursday voted to allow ocean carrier members of THE Alliance to form an emergency fund.
31 Jul 2017
The positive earnings statements come less than a month after the three established Ocean Network Express.
10 Jul 2017
NYK's head of container shipping Jeremy Nixon will lead the new Japanese carrier ONE.
07 Jul 2017
Japan's three major carriers have officially formed the One Network Express in Tokyo.
05 Jul 2017
Just days after APL announced the launch of a direct Asia-Hawaii service, NYK has doubled its frequency to the US island state.
03 Jul 2017
Japan's three major carriers say the new joint venture liner shipping company is ready to be established.
22 Jun 2017
The decision comes just days before the new joint venture Ocean Network Express was expected to be formed.
31 May 2017
The name of the joint venture container line that will be formed from the merger of Japan's three main carriers has been announced.
16 May 2017
Share prices of Japan’s top three shipping firms are languishing.
10 May 2017
The Japanese lines may as well fast track their merger following the voting down of their proposed agreement by the FMC on jurisdictional grounds, as the new line is unlikely to be blocked.
02 May 2017
The US Federal Maritime Commissioners voted 4-0 to reject ‘K’-Line, MOL, and NYK Line’s plan to share information with each other ahead of the merging of their container operations in July
28 Apr 2017
The next 12 months will be good for Japan's top three carriers that are predicting a profitable 2017/18 financial year.
15 Mar 2017
Miyamoto said she expects the recent improvement in rate sentiment will transfer to some extent to long-term shipping contracts.
13 Mar 2017
The so-called “tariff effect” will take an estimated one to two years after the set-up of the company to start delivering substantial savings.
09 Mar 2017
THE Alliance on Thursday released details on its 32 joint services.
08 Mar 2017
The new alliances begin operations on April 1, but an analysis of the networks reveals a surprising cut in the number of direct port-to-port connections.
28 Feb 2017
Jeremy Nixon presented an update to the TPM 2017 conference on the merger of the container divisions of 'K' Line, MOL, and NYK Line.
31 Jan 2017
The anticipation of record losses underscores the necessity of Japan's leading container lines’ plan to merge.
14 Dec 2016
The fight between the three major shipping alliances on US trades officially starts in April.
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