Q4 results reflect 'continued favourable' US petrochemical production and strong export market.

Reports a 76% decline in net profit on lower spot rates, increasing operating expenses.

Blames continued sluggishness in global markets, high bunker prices for wider loss forecast.

'Western-led sanctions on Iran will lead to higher bunker prices,' warns NYK.

Bunker prices averaged about 38% higher for the first nine months of its fiscal year, it noted.

'Hike in oil prices' and uncertainty in major economies mean difficult year ahead.

Helped by increased margins and sales volumes in its bunker and heavy fuels businesses.