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Japanese lines slump to major losses in 2011
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Japan’s big three ocean carriers saw their container lines slump to a collective $1.4 billion loss in their fiscal year 2011, adding more red ink to the beleaguered liner industry. All three lines saw sizable profits in 2010 turn to sizable losses in 2011, while all three also saw revenue levels erode. The Japanese lines have a fiscal year of April through March. Heading the losses was NYK Line, which slumped to a $524.2 million operating loss, compared to a $402.3 mil...
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