In the second quarter of 2023, NYK Line announced consolidated revenues of US$4 billion (¥567.5 billion), down US$74 million (¥105.5 billion) from the same period last year. Additionally, the company’s operating profit reached US$33 million (¥47.1 billion), recurring profit was US$63 million (¥89.4 billion), and profit attributable to parent owners was US$51 million (¥73.4 billion).
In the container shipping division, at Ocean Network Express (ONE), the weak global cargo demand and alleviation of port congestion caused spot freight rates to fall, which also impacted the service contract renewals, and profit levels fell.
Within the main trades, liftings were generally unchanged compared to the same period last year in the North America trade, but they fell year on year in the Europe trade, according to a statement.
At the terminals in Japan, handling volumes increased year on year following normalization of the container ship schedules. At the overseas terminals, handling volumes declined due to weaker cargo volumes.
As a result of the above, profit declined on higher revenue compared to the same period last year in the overall Liner Trade Business.