Janet Lewis News
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Nippon Yusen K.K., Japan’s biggest shipping line, lowered its annual profit forecast and Mitsui O.S.K. Lines Ltd. predicted a loss as rates for carrying commodities slump amid a glut of vessels.
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Toyota Motor Corp. and Nissan Motor Co.’s efforts to make up production lost after Japan’s March 11 earthquake will benefit local shipping lines suffering from lower rates for hauling commodities and containers.
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Three years ago, China passed the U.S. as the world’s biggest car market. By 2015, it will likely exceed the U.S., Japan and Germany combined -- and that takes into account the current economic slowdown.
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Nippon Yusen K.K. and Mitsui O.S.K. Lines Ltd., Japan’s two largest shipping lines, slashed their annual profit forecasts amid falling rates and rising fuel costs.
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Japanese trading houses including Marubeni Corp. are expected to report record profits during the 2012 Japanese financial year because of strong prices for natural resources, Macquarie Group Ltd. said.
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Zhou Na, a 37-year-old Beijing mother, says she knows why sport-utility vehicles are the fastest-growing segment in the world’s biggest automobile market: kids.
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China Cosco Holdings Company Ltd., the country’s largest listed shipping company, fell to a nine- month low in Hong Kong after saying preliminary first-half loss widened more than 50 percent as a ship glut weakened rates.
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Nippon Yusen K.K. , Japan’s largest shipping line by sales, increased its full-year net-income forecast as demand rebounded for container shipments to the U.S. and Europe.
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The Baltic Dry Index, a measure of commodity freight costs, will take until 2014 to exceed an average level of 2,000 as iron-ore production runs below estimates, said Macquarie Capital Securities Ltd.
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Nippon Yusen K.K., Japan’s largest shipping line by sales, said it may beat the annual profit forecast at its container-carrying unit as rebounding demand allows the introduction of peak-season surcharges.
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