“K” Line net income leaps 80%

“K” Line net income leaps 80%

“K” Line net income leaps 80%

   Kawasaki Kisen Kaisha Ltd.’s net income soared 80 percent to 59.9 billion ($563 million) yen in its fiscal year ended March 31, compared to 33.2 billion yen in the previous fiscal year.

   The Japanese shipping group’s operating income increased 53 percent to 108.1 billion yen ($1 billion) from 70.5 billion yen and its revenue increased 14 percent to 828.4 billion yen ($7.8 billion) from 724.7 billion in the previous year.

   “In the shipping industry, despite the adverse effects of record rises in chartered vessel rates and fuel prices, overall cargo movements grew fairly well and restoration of the freight rates for containerships, including those in the South/North service routes, made progress,” “K” Line said in its financial statement.