MOL says costs mounting in third quarter results
Japanese ocean carrier Mitsui O.S.K. Line said Wednesday that increase fuel costs, inland road rates and terminal container handling fees were driving down income projections for its containership division, from an estimated 53 billion yen ($449 million) for the year to 40 billion yen ($339.3 million).
The carrier had revenue of 37.9 billion yen ($321.4 million) for the first three quarters, down from 43.1 billion ($365.5 million) in 2004. MOL also said changes in accounting practices drove down income projections, as well as a downturn in loading volume in Asia/North America routes and a weakening of rates between Asia and Europe.