Recovery of the business of its Japanese brand Asuka Cruises helped the cruise operations of Nippon Yusen Kaisha (NYK), the Japanese shipping giant, to narrow its loss in the financial year to 31 March, but Crystal Cruises in the US had a more challenging year.
The cruise shipping division of NYK, which employs one ship under the Asuka Cruises brand and two under the Crystal Cruises one, recorded a rise in revenues to JPY35.0 billion from JPY32.4 billion in the previous 12 month period. Operating losses narrowed to JPY3.4 billion from JPY5.6billion, while recurring loss also narrowed, to JPy3.7 billion from JPY5.8 billion, NYK said in a statement.
"In the North American market, Crystal Cruises sales of Mediterranean voyages declined as a result of turmoil in southern Europe stemming from financial instability as well as political tension in the Middle East and North Africa,” NYK stated.
“In the Japanese market, the Asuka Cruises business rebounded strongly from the previous fiscal year, when the Great East Japan Earthquake severely impacted results. Overall, the cruises segment narrowed its loss on higher revenues compared with the previous fiscal year,” it concluded.
