Mitsui OSK Lines has forecast a 75% decline in net profit for the 2023 financial year as the container ship market adjusts to the post-Covid-19 world.
The Japanese shipowning giant expects full-year net profit next year to come in at just ¥210bn ($1.56bn), according to a regulatory filing on Friday.
However, the shipowner said this profit level was still “well above the pre-pandemic level due to the success of structural reforms to date”.
