TOKYO, July 31 (Reuters) – Japan’s big three shippers on Monday reported profits for the first quarter, bouncing back from losses a year earlier and raising hopes the firms could be emerging from the industry’s worst-ever downturn on record.
Mitsui OSK Lines swung to a 1.1 billion yen ($10 million) operating profit in April-June from a loss of 3.6 billion yen a year earlier, as a strong U.S. economy lifted freight volumes on routes between Asia and North America to record levels in the last quarter.
It now expects an 18 billion yen operating profit in the year through next March, double its previous forecast for 9 billion yen.
Nippon Yusen booked operating income of 3.6 billion yen compared with a loss of 11 billion yen a year earlier, while Kawasaki Kisen Kaisha posted an operating profit of 3.9 billion yen compared with a year-ago loss of 14.8 billion yen.
(Bloomberg) — Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least...
March 19 (Reuters) – Tanker company Euronav will exit Belgium’s blue-chip Bel-20 index after just two days of trading, as it no longer meets the membership conditions after its takeover by Compagnie Maritime...
MOSCOW, March 19 (Reuters) – The new head of Russia’s Navy was formally presented in his new role for the first time on Tuesday at a pomp-filled ceremony, the state RIA news agency reported,...
March 19, 2024
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