NEWLY LAUNCHED “K” Line Philippines expects a 15% increase in revenue for 2004 on the back of the country’s strong export performance and continuing freight rate recovery, said “K” Line Philippines president Octavio S. Katigbak.
The company was officially launched last week under the “K” Line Group’s global brand name after 20 years of being under Transmar Agency’s representation. Transmar, a joint venture between Rayomar Management Inc. and Kawasaki Kisen Kaisha Ltd. (“K” Line) is the Philippine agent of the “K” Line Group.
“This year will be a little complicated because this is our first year as “K” Line and we just took over the new company this July. But overall, we are expecting an improvement because of the soaring export volumes,” he said.
Katigbak said the incorporation of “K” Line Philippines was aimed at strengthening “K” Line Group’s global branding.
The partnership agreement was signed between “K” Line Group and “K” Line Philippines, represented by company president Yasuhide Sakinaga and “K” Line Philippines chairman of the Board Ramon C. Garcia.
With the recent incorporation, the new Philippine company now belongs to the global family of subsidiaries which include “K” Line America, Inc., “K” Line (Europe) Ltd. and “K” Line (Hong Kong) Ltd.
