NYK posts loss of $2.39bn

Nippon Yusen Kaisha (NYK) has reported a negative result for the fiscal year 2016 amid weak shipping markets.

The Japanese owner logged a loss of JPY 265.7bn ($2.39bn), compared to earnings of JPY 18bn a year earlier.

Its negative result was mainly attributed to an extraordinary loss of JPY 200bn, including an impairment charge and provision for losses related to boxships and bulkers.