Latest news with #TakenoriIgarashi
South China Morning Post
6 days ago
- Business
- South China Morning Post
Japanese shipping giant K-Line to divert US services over Trump tariff fears, CEO says
Japanese shipper Kawasaki Kisen (K-Line) is adjusting its US services and is prepared to divert more ships away to other regions as it braces for potentially higher US tariffs, CEO Takenori Igarashi said on Wednesday. 'There have been times when ships couldn't be fully loaded on some routes, and when we reduced the frequency of container services from East Asia to the US,' Igarashi said. 'We're adjusting our fleet capacity according to cargo volumes.' One of Japan's major shipping companies, Kawasaki Kisen, has factored in a 30 billion yen (US$200 million) impact from US tariffs for the financial year through March 2026, citing a hit to the carrier business and lower container volumes and freight rates. Igarashi, who took over his post in March, said that the container ship business would be especially affected by the outcome of US-China tariff negotiations, which the company was closely watching. K Line President and CEO Takenori Igarashi said his company will adjust US services amid tariff fears, eyeing diversions to Europe and Africa. Photo: Reuters US President Donald Trump has threatened higher tariffs on a range of trading partners unless they agree trade deals before an August 1 deadline.
Reuters
6 days ago
- Business
- Reuters
Japan's Kawasaki Kisen prepared to reroute more ships away from US over tariffs, CEO says
TOKYO, July 16 (Reuters) - Japanese shipper Kawasaki Kisen (K-Line) (9107.T), opens new tab is adjusting its U.S. services and is prepared to reroute more ships away to other regions as it braces for potentially higher U.S. tariffs, CEO Takenori Igarashi said on Wednesday. "There have been times when ships couldn't be fully loaded on some routes, and when we reduced the frequency of container services from East Asia to the U.S.," Igarashi, who took his post in March, told Reuters in an interview. "We're adjusting our fleet capacity according to cargo volumes." One of Japan's major shipping companies, Kawasaki Kisen has factored in a 30 billion yen ($200 million) impact from U.S. tariffs for the financial year through March 2026, citing a hit to the car carrier business and lower container volumes and freight rates. Igarashi said that the container ship business would be especially affected by the outcome of U.S.-China tariff negotiations, which the company was closely watching. U.S. President Donald Trump has threatened higher tariffs on a range of trading partners unless they agree trade deals before an August 1 deadline. Depending on the tariff rates that various countries ultimately face and what they do to trade flows, there could be some positive impact if shipping distances lengthen, Igarashi said. To adjust to tariff-related demand at the operational level, Kawasaki Kisen could redirect vessels from U.S. routes to Europe, the Middle East, Australia and Africa, he said. "When it comes to strategic adjustments, we may, for example, reduce assets in the form of vessels a bit, but unless we are clear about the direction of trade policies, we can't suddenly make drastic cuts," he said. "We're still in the wait-and-see phase." ($1 = 149.8000 yen) (This story has been republished to change photographer credit in the image, with no changes to text)
Yahoo
6 days ago
- Business
- Yahoo
Japan's Kawasaki Kisen prepared to reroute more ships away from US over tariffs, CEO says
By Kentaro Okasaka TOKYO (Reuters) -Japanese shipper Kawasaki Kisen (K-Line) is adjusting its U.S. services and is prepared to reroute more ships away to other regions as it braces for potentially higher U.S. tariffs, CEO Takenori Igarashi said on Wednesday. "There have been times when ships couldn't be fully loaded on some routes, and when we reduced the frequency of container services from East Asia to the U.S.," Igarashi, who took his post in March, told Reuters in an interview. "We're adjusting our fleet capacity according to cargo volumes." One of Japan's major shipping companies, Kawasaki Kisen has factored in a 30 billion yen ($200 million) impact from U.S. tariffs for the financial year through March 2026, citing a hit to the car carrier business and lower container volumes and freight rates. Igarashi said that the container ship business would be especially affected by the outcome of U.S.-China tariff negotiations, which the company was closely watching. U.S. President Donald Trump has threatened higher tariffs on a range of trading partners unless they agree trade deals before an August 1 deadline. Depending on the tariff rates that various countries ultimately face and what they do to trade flows, there could be some positive impact if shipping distances lengthen, Igarashi said. To adjust to tariff-related demand at the operational level, Kawasaki Kisen could redirect vessels from U.S. routes to Europe, the Middle East, Australia and Africa, he said. "When it comes to strategic adjustments, we may, for example, reduce assets in the form of vessels a bit, but unless we are clear about the direction of trade policies, we can't suddenly make drastic cuts," he said. "We're still in the wait-and-see phase." ($1 = 149.8000 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
