Expect K Line — the smallest of Japan's "big three" public shipping companies — to accelerate its fleet renewal campaign in the next few months.

The company last year completed a plan to shake out older car carriers and will now focus on offloading inefficient bulkers, K Line's president and chief executive officer Yukikazu Myochin said in a new year message, delivered to employees at the company's Tokyo head office on Tuesday.

K Line decided during the fiscal year ending in March 2021 to shrink its fleet by about 50 "uneconomic and aged" vessels — mainly car carriers and bulkers.