The three Japanese shippers – K-Line, Mitsui OSK and NYK – all showed increased revenues in the fiscal third quarter (calendar fourth quarter) of 4.1% to 9.4%. All three also increased their full year guidance by 2.1% to 4.9%. This comes ahead of their proposed merger starting from July. The only disappointment was that NYK missed analysts’ estimates for the quarter by 7.0%, likely due to a weaker performance from its airfreight and logistics operations. They also differ on the short term direction of rates – K-Line expects growth to stall, whereas NYK states they could slightly increase...