K Line has said this year’s financial performance is set to be the “best ever”, according to chief executive Yukikazu Myochin.

Speaking in his 2023 annual New Year message he said efforts made in the previous fiscal year to restore cost competitiveness through structural reforms were “bearing fruit”.

He said this included fleet downsizing and the disposal of under-performing business, as well as the “unrelenting efforts” of each business unit to improve profitability.