Cancelling the charter parties of containerships and bulkers will cost Japan’s K Line ¥560bn ($5bn).
The line has announced it will list the charge in its accounts for the year ending 31 March.
K Line said it was also a reflection of “weakening market conditions” in the dry bulk sector.
The extraordinary losses were a consequence of returning 25 ships to owners earlier than the agreed expiry period of the charter.
Moreover, K Line said …
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Source: The Loadstar