K Line has become the latest liner operator to forecast a massive fall in net profit in the next year as the liner market adjusts to the post Covid-19 era.
The Tokyo-listed shipowner forecasts net income of just ¥120bn ($891m) for FY2023 as freight rates are expected to settle down as supply chains normalise.
News of the drop in profit for next year came as the company announced a full-year profit of ¥695bn for 2022, just up from the ¥642.4bn
