Peter T. Leach/The JOURNAL of COMMERCE ONLINE
Journal of commerce (Newark, N.J.),
02/2009
Newspaper Article
NYK, the worlds largest car carrier, predicts car exports will slump by more than a third this quarter as the worst U.S. car market in 28 years forces Japanese manufacturers to reduce output. The countrys auto exports tumbled 34 percent in December, their biggest drop since records began in 1972. NYK Yusen last month slashed its net income forecast by 48 percent to 73 billion yen ($791 million) for the year ending March 31 amid slower demand for transport commodities, containers and cars. The shipping line is predicting a loss of $391 million this quarter.
