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The freighter, which is operated by K-Line but owned by a subsidiary of the Japanese shipbuilding firm Imabari Shipbuilding, is currently stationary but the Dutch coastguard said it may be listing.

K-Line tumbled 4.5 percent to 148 yen in Tokyo, its lowest close since September 2002.

Tokyo-based K-Line expects an unprofitable year because of a 15.6 billion yen loss from investments, the stronger yen and slumping container-shipping rates, it said in a statement yesterday.

K-Line expects its container unit to make a 33 billion yen full-year current loss compared with an earlier prediction for a 10.5 billion yen loss, according to the statement.

K-Line in July forecast 2 billion yen full-year net income.