UPDATE 1-Japan shippers lift annual outlooks after bouyant Q1


(Recasts and writes through) By Edwina Gibbs TOKYO, July 26 (Reuters) - Japanese shipping lines Nippon Yusen KK and Kawasaki Kisen Kaisha Ltd. posted hefty rises in quarterly profits on Thursday and lifted their annual outlooks above expectations on better freight rates and buoyant demand. Prospects for the global shipping market have improved from last year, when the industry was hit by weaker freight rates after Danish group A.P. Moeller-Maersk , the world's largest shipping line, ...

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