Japan’s ocean lines face profit decline amid tariff impact

Japan’s largest ocean shipping lines saw Q2 profits decline on the effects of the U.S. tariff war, and cut their forecast for all of 2025. Ocean Network Express on Tuesday said revenue for the June-August fiscal 2025 second quarter was $4.46 billion, down 24% from $5.9 billion in the year-ago quarter, with net profit of $285 million, off 86% from $1.9 billion in 2024. Profits for the joint venture of Japan’s K Line, MOL and NYK initially soared in 2024 as attacks by Yemen-based Houthi militia forced glob ...