Net income was JPY 33bn ($273m) for the three months ended 31 December 2014 versus the JPY 15.7bn seen a year ago.

Revenue at the smallest of Japan’s big three shipowners topped the JPY 1trillion mark against the JPY 918bn the year before.

K Line said negative factors included the continuing slump in the dry bulk sector and the declining trend in the export volume of finished vehicles from Japan.

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