Nippon Yusen Kabushiki Kaisha Revises Financial Outlook

July 21, 2022

Copyright Eightshot Studio/AdobeStock
Copyright Eightshot Studio/AdobeStock

Nippon Yusen Kabushiki Kaisha has upgraded its financial outlook for the fiscal year ending March 2023, projecting higher revenue and operating profits across the board in light of changing market conditions across multiple sectors it serves, inculding containershipping and bulk carriers. In a statemetn the company said:


"The forecast at the beginning of the current fiscal year assumed a decline in demand related to general consumer goods considering lockdowns in China, the turmoil of the situation in Russia and Ukraine, and the acceleration of global inflation. In the Liner Trade business, a gradual decrease in cargo volume and a certain level of decline in spot freight rates were factored in. However, amid ongoing supply chain disruptions, we expect the profit of our equity method affiliate OCEAN NETWORK EXPRESS PTE. LTD. to exceed expectations due to the continuing favorable market conditions resulting from robust shipping demand and other factors. In the Air Cargo Transportation business and Logistics business, overall profitability has improved, supported by solid demand. In addition, due to the favorable dry bulk market  and the impact of exchange rates, the Bulk Shipping business is also expected to improve profitability, and therefore, the financial forecasts have been revised upward."


In releasing the revised projection, the company assumes a full year bunker price of $838.24/MT.

Logistics News

DP World Begins $165 Million Expansion of Maputo Container Terminal Capacity

DP World Begins $165 Million Expansion of Maputo Container Terminal Capacity

Port Canaveral Invests $500 Million in Five-Year Port-Wide Improvement Plan

Port Canaveral Invests $500 Million in Five-Year Port-Wide Improvement Plan

Syria Signs New 30-Year Deal with CMA CGM

Syria Signs New 30-Year Deal with CMA CGM

Adani Ports Sees Higher FY26 Revenue Growth on Robust Volumes

Adani Ports Sees Higher FY26 Revenue Growth on Robust Volumes

Subscribe for Maritime Logistics Professional E‑News

China's Zhejiang Jiaao receives export license for sustainable aviation fuel
Refining Margin for 380-cst HSF O reaches more than 6-year High
Ukraine's farm exports fell 23% month-on-month in April, according to lobby.