Westwood Shipping Lines’ transition to stable profitability
First written in FY2016. 8 of 18 entries say "Advanced", first in FY2020-Q2. Latest entry: FY2023-Q1.
No other company in this theme has enough history to compare yet.
- FY2023-Q1AdvancedAnnual report
「Under its policy of concentrating management resources on its core logistics and real estate businesses, the group decided to transfer all shares of its consolidated subsidiary engaged in the ocean shipping business, Westwood Shipping Lines, Inc. The transfer was completed on 29 June 2022 (US Pacific Standard Time).」
The share transfer has been completed as the company shifted from its previous focus on achieving stable profitability at Westwood to restructuring its business portfolio through the transfer. - FY2022ReframedAnnual report
「In June 2022, the company's subsidiary J-WeSco株式会社 planned to transfer all shares of its subsidiary, the US ocean shipping company Westwood Shipping Lines, Inc. (hereinafter, "Westwood"), while the company's subsidiary SW Maritime 1 and 3 other companies planned to transfer 4 vessels.」
The company shifted from its previous focus on achieving stable profitability at Westwood to a policy of transferring the company's shares and related vessels. - FY2022-Q3AdvancedAnnual report
「Operating revenue rose 80.5% year on year to ¥29,989 million, owing to higher container freight rates and the recovery in container volumes from Japan and South Korea to North America. Although container-related costs, fuel expenses and chartering costs increased, the effect of higher revenue resulted in operating profit of ¥7,033 million, compared with an operating loss of ¥398 million in the same period of the previous year.」
The ocean shipping business swung from an operating loss in the same period of the previous year to an operating profit of ¥7,033 million, owing to the recovery in container volumes to North America and higher freight rates. - FY2022-Q2AdvancedAnnual report
「Operating revenue rose 52.7% year on year to ¥17,079 million, owing to higher container freight rates and the recovery in container volumes from Japan and South Korea to North America. Although container-related costs and fuel expenses increased, the effect of higher revenue resulted in operating profit of ¥2,415 million, compared with an operating loss of ¥621 million in the same period of the previous year.」
The ocean shipping business swung from an operating loss in the same period of the previous year to an operating profit, owing to the recovery in container volumes to North America and higher freight rates. - FY2022-Q1AdvancedAnnual report
「In the ocean shipping business, operating revenue rose 17.7% year on year to ¥7,468 million, owing to the recovery in container volumes from Japan and South Korea to North America and higher container freight rates. Operating profit was ¥715 million, compared with an operating loss of ¥175 million in the same period of the previous year.」
The ocean shipping business swung from an operating loss in the same period of the previous year to an operating profit, owing to the recovery in container volumes to North America and higher freight rates. Specific progress toward achieving stable profitability is evident. - FY2021AdvancedAnnual report
「In the ocean shipping business, container volumes from Japan and South Korea to North America declined in the first half due to the impact of COVID-19, while volumes recovered in the second half. However, full-year volumes handled declined, and the stronger yen also affected results, causing operating revenue to fall 12.4% year on year to ¥22,601 million.」
The ocean shipping business recorded lower revenue for the full year, but the operating loss narrowed from ¥321 million in the previous fiscal year to ¥140 million. Profitability improved toward achieving stable earnings, but the business did not yet become profitable. - FY2021-Q3Quarterly profitability despite continued cumulative lossesAnnual report
「Although container volumes from Japan and South Korea to North America began recovering in the third quarter due to the impact of COVID-19, operating revenue declined 11.9% year on year to ¥16,612 million, owing to the decrease in container volumes during the first 6 months of the fiscal year and the impact of the stronger yen. Operating expenses declined due to lower container-related costs, including repositioning expenses associated with the decrease in container volumes, as well as lower fuel oil prices. However, because performance during the first 6 months of the fiscal year remained weak as a result of the impact of COVID-19, the company recorded an operating loss of ¥398 million, compared with an operating loss of ¥272 million in the same period of the previous year. In the three months of the third quarter, the company returned to profitability for the first time in 5 quarters, owing to the recovery in container volumes and other factors.」
The cumulative operating loss for the third quarter widened from ¥272 million in the same period of the previous year to ¥398 million, but the company returned to profitability in the 3 months of the third quarter for the first time in 5 quarters, owing to the recovery in container volumes and other factors. - FY2021-Q2WorsenedAnnual report
「Operating expenses declined due to lower container-related costs, including repositioning costs, resulting from lower container transportation volumes, as well as lower fuel oil prices. However, revenue declined due to the impact of the pandemic, resulting in an operating loss of ¥621 million, compared with operating profit of ¥2 million in the same period of the previous year.」
Although operating expenses declined, revenue fell due to the infectious disease, and the ocean shipping business swung from an operating profit in the same period of the previous year to an operating loss of ¥621 million. Conditions for achieving stable profitability are deteriorating. - FY2021-Q1WorsenedAnnual report
「In the shipping business, container transportation volumes declined and the stronger yen had an impact, but improved container freight rates and other factors kept operating revenue broadly in line with the same period of the previous year at ¥6,347 million, up 0.3% year on year. Although container-related costs, including repositioning costs, declined with the decrease in container transportation volumes, operating expenses increased because higher-priced fuel was used in response to tighter regulations on sulfur oxides from marine fuel oil, among other factors. As a result, the company recorded an operating loss of ¥175 million, compared with an operating loss of ¥144 million in the same period of the previous year.」
Although freight rates improved, the operating loss widened from ¥144 million in the same period of the previous year to ¥175 million due to lower container transportation volumes and higher fuel costs resulting from the use of higher-priced fuel. - FY2020AdvancedAnnual report
「In the shipping business, earnings improved substantially due to better freight rates and lower container-related costs, including repositioning costs, but the company recorded an operating loss of ¥321 million, compared with an operating loss of ¥1,671 million in the previous fiscal year.」
The operating loss narrowed from ¥1,671 million to ¥321 million due to improved freight rates and lower expenses, but the business has not yet achieved stable earnings or returned to profitability. - FY2020-Q3AdvancedAnnual report
「Although the recovery in freight rates and reductions in container-related costs, including repositioning costs, led to a substantial improvement in earnings, the company recorded an operating loss of ¥272 million, compared with an operating loss of ¥1,202 million in the same period of the previous year.」
The shipping business's operating loss narrowed from ¥1,202 million in the same period of the previous year to ¥272 million due to the recovery in freight rates and lower container-related costs. However, an operating loss remained. - FY2020-Q2AdvancedAnnual report
「In the shipping business, operating revenue was ¥12,791 million, up 0.8% year on year, due to increased container transportation volumes bound for North America and a recovery in freight rates. Efforts to reduce container-related costs, including repositioning costs, resulted in operating profit of ¥2 million, compared with an operating loss of ¥802 million in the same period of the previous year.」
The shipping business swung from an operating loss in the same period of the previous year to operating profit of ¥2 million, due to increased container transportation volumes bound for North America, a recovery in freight rates and lower container-related costs. Specific improvements toward stabilizing earnings are evident. - FY2020-Q1RestatedAnnual report
「In the shipping business, efforts were made to improve profitability by expanding transportation volumes and reducing operating expenses, among other measures.」
The shipping business continues to pursue a policy of improving transportation volumes, reducing operating expenses and improving profitability. - FY2019RestatedAnnual report
「(Shipping business) The company will focus on expanding transportation volumes and improving profitability while working to reduce expenses, with the aim of improving performance.」
The shipping business continues to pursue its policy of improving performance through expanded transportation volumes, higher profitability and lower expenses. - FY2019-Q1RestatedAnnual report
「In the shipping business, efforts were made to expand transportation volumes and reduce expenses.」
The shipping business continues to pursue stable operations by expanding transportation volumes and reducing expenses. - FY2018RestatedAnnual report
「In the shipping business, efforts have also been made to expand transportation volumes and reduce expenses.」
The shipping business, including Westwood Shipping Lines, continues to operate by expanding transportation volumes and reducing expenses. - FY2017RestatedAnnual report
「At U.S. shipping company Westwood Shipping Lines, Inc., efforts were made to maintain transportation volumes and reduce expenses amid a challenging operating environment.」
No change to the goal of stabilizing earnings has been indicated, but the company is working to maintain transportation volumes and reduce expenses in a challenging environment. - FY2016First statedAnnual report
「Building an operating structure that enables Westwood Shipping Lines, Inc. to generate stable earnings」
The goal for the subsidiary responsible for routes along the North American West Coast is to build an operating structure that generates stable earnings. The report also states that it focused on expanding cargo volumes bound for North America while mitigating the impact of congestion at ports on the U.S. West Coast.