NYK Cuts Fleet Expansion.(Nippon Yusen KK)(Brief article)

BYLINE: Hisane Masaki

TOKYO -- Japan's NYK Line, the largest Japanese shipping firm by sales, announced that it will revise downward its fleet expansion plan by around 25 percent, or 50 to 60 ships, amid the rapidly deteriorating global shipping market.

The carrier also will launch a full-scale review of its current medium-term management plan, which sets both business performance and fleet size targets, in January and release the revised plan by the end of next March, a company spokesman said.

The current three-year management plan, dubbed "New Horizon 2010," was announced in March. It will run from fiscal 2008, which started in April this year, …