Japan’s NYK takes Russian LNG write-down as containers and dry bulk surge

NYK Line has written off ¥17.8bn ($134m) linked to its investment in a Russian LNG project.

The Japanese shipowner said it made the provision due to the deterioration in the business environment caused by the war in Ukraine.

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NYK, which reported first-quarter earnings on Wednesday, said the extraordinary loss was in relation to the LNG transportation for the Sakhalin 2 project.