K-Line Claims Bankruptcy Rumours False


In a statement released by Kawasaki Kisen Kaisha (K-Line) on September 22, 2016, an accusation of false rumours has been made against a rival logistics company regarding bankruptcy.

The company claim they are not involved in any financial trouble, and assure clients that they are in a safe position.

It has been reported by Splash 24/7 that the rival logistics company in question is APL Logistics, however this has not been verified.

They also announce that with an admission of guilt by said company, they will be taking legal action for the defamation caused by the false rumours.

The official statement by K-Line said: “It has become known to us that a certain NVOCC company had circulated false e-mails stating a potential bankruptcy of “K” Line to their customers. The message contained in the e-mails is unfounded without basis of any financial analysis and what is stated therein is false.

“We have strongly protested to the said company, who has admitted that the statement was false and promised to send to their customers a message to retract such statement. We are also considering [taking] any necessary legal measures that we may have against the concerned parties.

“Our financial condition is sound as shown in the link below, more specifically: As of 30 June 2016, the cash and deposits is JPY 214,304 mil (approximately US$2,082 million); total net asset is JPY 330,392 mil (approximately $3,210 million); equity ratio is 29.1%; and liquidity ratio is 154.5%, and moreover, we maintain the credit rating at the same sound and viable level as other shipping companies.

“It is evident also from these figures that the messages sent by the said company to its customers are erroneous.”

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