K Line CEO and president Eizo Murakami has said that while bulker and boxship rates have started to move up from recent lows, he believes a substantial recovery will take more time.
In the Japanese owner's previous financial year, he said the sectors were "buffeted by the stormy seas of a historical market downturn."
"However, over the course of this fiscal year, tonnage supply pressure has weakened, while the movement of international marine cargo is robust," he added in a new year message to employees.
