K Line on the Rebound

first_imgzoom The Japanese shipping conglomerate K Line posted Yen 26.8 billion (USD 223.1 million) in net income for the fiscal year ending March 2015, a 61% surge year-on-year.The company’s revenues stood at JPY 1.35 trillion, against JPY 1.22 trillion, up 10% from the prior year.K Line’s container shipping business rebounded from a loss of JPY 100 million, posting JPY 20.6 billion profit in 2014 fiscal year.The company said its container cargoes rose 4% year-on-year amid steady cargo movements and falling bunker prices pushing company into the black.The company’s dry bulk business recorded higher revenues but lower income amid market fluctuations. A similar situation has been reported in the company’s car carrier sector.Other businesses of the conglomerate remained steady except for its offshore energy arm that recorded a loss.For the 2015, the company expects operating revenues to reach JPY 1.46 trillion and a net income of JPY 20 billion.World Maritime News Stafflast_img read more

India lifts travel warning issued for Sri Lanka

Indian nationals travelling to Sri Lanka are advised to be careful and vigilant. India has lifted the travel warning issued for Sri Lanka following the Easter Sunday attacks.In a statement issued in New Delhi today, the Indian Government noted that the security situation in Sri Lanka is gradually returning to normal with the lifting of curfew and restrictions on social media and the opening of schools. Indian nationals requiring any assistance can get in touch round the clock with our High commission in Colombo, Assistant High Commission in Kandy and Consulates in Jaffna and Hambantota. The helpline numbers of the Indian High Commission in Colombo are: +94-772234176 +94-777902082 +94-112422788 +94-112422789Earlier China and Switzerland had also lifted the travel warnings issued on Sri Lanka. (Colombo Gazette) read more