“K” LINE President’s 2023 New Year Message predicts ‘best ever’ financial results

Share

In his New Year Message delivered on January 4, “K” LINE President & CEO Yukikazu Myochin said that financial results for the current fiscal year are expected to be the best ever as a result of internal cost-cutting and optimisation measures as well as strong markets in its principal business sectors of dry bulk, energy and logistics support including containers and car carriers.

Going forward, he said that “K” LINE would concentrate its management resources “on three businesses that will play a leading role in driving growth, namely the coal and iron ore carrier, car carrier, and LNG carrier businesses.”

Meanwhile, in the containership sector, where “K” LINE supports operations of the ONE (Ocean Network Express) joint service with NYK and MOL and based in Singapore, the compnay has recently established new company K Marine Ship Management (KMSM) in order to sustain service quality and innovation. The offshore wind power generation support vessel segment is also being targeted by “K” Line Wind Service (KWS).

Analysing the near-term business environment, the “K” LINE President & CEO noted that “a variety of unclear and uncertain situations have emerged that could have a significant impact on economic activities, including the protracted crisis in Ukraine triggered by Russia and the resulting surge in energy resource prices; the review of monetary easing measures in response to strong inflation and rapid interest rate hikes; and the direction of China’s zero-covid policy.”

Characterising the upcoming Chinese New Year of the water rabbit as signifying “both an end and a beginning”, Yukikazu Myochin expressed his confidence to “K” LINE employees that “as we enter a new stage, we shall each blaze new trails and build great momentum together.” The full New Year message can be read on the “K” LINE website.

logo