MOL EXPECTS PACIFIC PROFITS THIS YEAR

    Masaharu Ikuta, president of Mitsui O.S.K. Lines, predicts that the more efficient liner operators in the Pacific will return to profit this year.
"It’s all to do with how well they can improve their productivity," he explained at a press briefing in London.
"Some lines will show a profit this year. Some will manage to break even. Others will still be struggling with a loss. But Mitsui O.S.K. Lines will be among those in profit," he said.
    MOL and other carriers are known to have lost money on their transpacific container shipping operations in the last few years, following sharp falls in freight rates and swelling trade imbalances.
    MOL also said that its membership of the New World Alliance has a postitive impact on its profits. An internal review of the benefit to MOL from participating in the alliance suggests current annual savings in the order of 7 to 8 billion yen ($60-70 million).