By Tom Westbrook SYDNEY, April 5 (Reuters) - Kawasaki Kisen Kaisha (K-Line) has pleaded guilty to criminal cartel conduct in the transport of vehicles, Australia's competition regulator said on Thursday, the second Japanese shipping company to make such an admission. The conduct relates to the shipping of cars, trucks and buses to Australia between 2009 and 2012, according … [Read more...]
Japan’s Most-Shorted Stock Facing Rough Seas as Largest Shareholder Looms
By Chris Cooper and Kiyotaka Matsuda (Bloomberg) -- The most-shorted stock on Japan’s Nikkei 225 Stock Average, a shipping line, is facing rough seas again. As Kawasaki Kisen Kaisha Ltd.’s annual shareholder meeting approaches on June 23, attention is focusing on whether its president and chief executive officer, Eizo Murakami, will win reelection. That’s partly because the … [Read more...]
K Line Sues APL Logistics Over False Bankruptcy Rumors
By Alexander Whiteman (The Loadstar) - K Line has filed a lawsuit against Singapore-based APL Logistics, claiming its employees had wrongly suggested the Japanese shipping line was in danger of going bankrupt. Filed yesterday in the Tokyo District Court, the lawsuit claims APL employees sent emails “strongly” recommending shippers terminate bookings with K Line and switch … [Read more...]
Japanese Shipping Companies to Merge Container Operations
By Chris Cooper and Kiyotaka Matsuda (Bloomberg) -- Nippon Yusen KK, Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd., Japan’s three largest shipping companies, agreed to merge their container operations into one company. Their shares surged. The joint company will be set up by July 1, according to a joint statement distributed in Tokyo Monday. Combining the … [Read more...]
Investor Discontent Rises at Japanese Shipping Lines Amid Losses
By Chris Cooper and Kiyotaka Matsuda (Bloomberg) -- As Japan’s shipping lines struggle with losses, the chief executives of companies are facing rough seas with fewer shareholders wanting them at the helm. Eizo Murakami, president of Kawasaki Kisen Kaisha Ltd., the nation’s third-biggest shipping company by market value, will continue in his job for a second year with … [Read more...]