Supply Chain Research

The Japanese shipping companies delivered better-than-expected results for their fiscal second quarters, but in different ways. K-Line reported an 18% jump in revenues, beating expectations by 4% and delivering both higher volumes and rates. Mitsui-OSK and Nippon Yusen grew 18% and 15% respectively, but both were as expected. K-Line missed out on profitability though, with its EBITDA margin having fallen to 4.7% vs. the second quarter vs. 5.2% expected, possibly due to a weaker performance from its energy business. Mitsui-OSK did better on strong dry-bulk margins and Nippon Yusen due to ...