Ocean Network Express ONE states profit leap of 326%

The wave of good news from carriers continues. The Japanese Ocean Network Express (ONE) reported a profit leap of 326% for last quarter of its fiscal year 2020 which runs from April 1 to March 31.

The Singapore-based container carrier said the profit for the second quarter of its 2020 fiscal year was USD 515 million in comparison to USD 121 million in Q3/2019. With its 224 vessels, the Japanese network was able to reduce costs and improve profitability.

ONE said the competitiveness of The Alliance, its cooperation with Hapag-Loyd, Yang Ming and HMM, further strengthened its financial results. However, ONE did not disclose its estimated results for the rest of the fiscal year. (cd)


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