‘K’ Line makes profit amid freight rate pressures

The containership business of Kawasaki Kisen Kaisha (‘K’ Line) is back in the black, benefiting from falling fuel oil prices although the Japanese carrier is concerned about the year ahead.

Income in the shipping line’s container segment increased to JPY20.6bn (US$172.0m) in the fiscal year ending 31 March 2015 after a JPY0.1bn (US$0.8m) loss last year.

However, while cargo volumes showed a steady year-on-year improvement of 4%, the positive results were tempered by lingering uncertainties over freight rates on the Asia-Europe service.