NYK Line has made it a hattrick of Japan’s top shipowners forecasting a major reduction in profit this fiscal year.

The Takaya Soga-led shipowner expects to post a profit of ¥200bn ($1.48bn) for FY2023, according to a forecast released Tuesday.

It joins Mitsui OSK Lines (MOL) which last month forecast a 75% decline in profit to ¥210bn and K Line, which revealed on Monday that its profit this year will shrink by over 80% to ¥120bn.