Both revenues and profit of the cruise operations of Nippon Yusen Kabushiki Kaisha (NYK) declined in the second quarter of the Tokyo based shipping giant’s financial year.

The group, which operates Asuka II on the Japanese market and Crystal Cruises with two upmarket vessels mainly on the US market, reported recurring profit of 0.2 billion yen for its cruise business, compared to a profit of 1.1 billion a year earlier. Revenues fell to 10.1 billion yen from 11.1 billion. The company’s financial year ends on 31 March.

“In the Japanese market, Asuka II suffered from weak demand following the earthquake, and the load factor declined from the previous year. In the North American market, Crystal Cruises enjoyed sales during the peak summer season and enjoyed a high load factor on par with the previous year. Costs rose, however, due to higher fuel prices. Overall, the Cruises segment posted lower revenues and earnings compared with the same period of the previous year,’ NYK said.