Mitsui OSK Lines (MOL) has made a full-year loss of JPY 170.4bn ($1.5bn) as the company was hit by restructuring costs of JPY 179.3bn.

Revenue was down 5.8% year-on-year to JPY 1.8 trillion with the largest declines coming at ist containership and domestic ferry businesses.

“The dry bulk market remained weak due to fears such as the decline in the growth of iron ore imports and a decrease in coal imports by China,” MOL said.

“The