K Line’s net income fell to JPY 4.3bn ($41.8m) for the three months to the end of June from JPY 7bn for the same period of last year despite operating revenues rising to JPY 319.8bn from JPY 295.7bn.
The third biggest Japanese shipowner operating a diversified fleet of 560 vessels of 41m dwt said it had been affected by the decline in the dry bulk freight market but benefited from a $22 a tonne fall in bunker costs to $615 a tonne.
The
