Japan’s NYK Line expects the crisis in the Red Sea to help boost its bottom line in the fiscal fourth quarter, it said on Monday.

The shipowner’s liner arm posted a ¥1.1bn ($7.4m) loss for the three months to 31 December versus a profit of ¥161.5m in the same quarter a year earlier.

NYK Line now forecasts that the division will post a ¥14.6bn