Toyota Motor Corp. and Nissan Motor Co.'s efforts to make up production lost after the March 11 earthquake will benefit local shipping lines suffering from lower rates for hauling commodities and containers.
Nippon Yusen K.K. and Mitsui O.S.K. Lines Ltd., Japan's largest shipping lines and the world's biggest operators of car-carrying vessels, expect to haul 3.8 million vehicles in the six months ending March, the highest half-year tally in at least five years. That may help them post annual profits even as they forecast declines for their cargo-box and dry-bulk units.
"The one thing that's supporting their business is car carriers," said Janet Lewis, a Hong-Kong based Macquarie Group Ltd. analyst. "Dry-bulk is at an abysmally low level and container ships are making a loss."