Japanese shipping lines NYK and K Line have forecasted net profits for the fiscal year, ending 31 March.
After posting a ¥41b deficit 12 months ago, K Line has predicted a net profit of ¥10b this fiscal year, a significant increase on the ¥2b net profit it had previously forecast.
However, the company has been forced to revise its expected ¥16b full-year operating profit to ¥11b, due to what it describes as “stagnant conditions in the containership market.”
NYK is projecting a net profit of ¥6b, up on its previous prediction of ¥1b.
The company recorded a net loss of ¥72.8 billion for the year ending 31 March 2012.
“NYK Line has raised its net-income forecast due to significantly decreased loss on valuation of investment securities in the third quarter,” the company said in a statement.
The news isn’t as fortunate for fellow Japanese shipping line MOL, who have projected a ¥177b net loss for the fiscal year.
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