Mitsui lifts profit forecast 154%

Mitsui O.S.K. Lines Ltd. increased its fiscal 2009 expectation from $22 million to $56 million, partly due to an increase in container shipments to the U.S. and Europe. The Japanese company is benefiting from China’s strong demand for iron ore and coal imports, according to a company news release.

The company’s 2009 fiscal year ends March 31, 2010. The port is serviced by Mitsui’s container line and roll-on/roll-off line. TraPac’s container terminal, which opened a year ago, has handled about a third of the number of containers it had expected before the trade slump hit.

Source: Jacksonville Business Journal