The giant shipowner said the medium-term management plan was aiming to raise earnings from a forecast JPY 25bn in the year to 31 March.

By 2019, it wants revenue to reach JPY 1.5 trillion.

The company has registered to issue bonds worth JPY 100bn in a shelf filing valid for two years.

And it has also unveiled planned changes to its fleet, including shedding nine boxships by 2019, to bring the fleet down to 61 vessels.

It