JAPAN's Singapore-headquartered Ocean Network Express (ONE) carried 9.7 million TEU in the nine months from April to December, a year-over-year increase of 7.7 per cent.
one now expects US$4.034 billion in net profit for its operating year ending March 31, upping the forecast by almost $1 billion from $3.095 billion after posting a strong fiscal third quarter with significant gains in revenue and earnings.
The full-year net profit as forecast would be a 30 per cent increase over the previous year, even as container shipping enters its traditional slack season following the rush to export in the run up to the Lunar New Year.
'A slowdown in cargo movement is expected, coupled with increasing uncertainty in the business environment,' ONE said in its earnings statement.
The revenue for Q3 FY2024 was $4.846 billion, up 44 per cent from the same quarter of the last year, with net profit $1.156 million (YoY +$1.239 billion).
The Asia-North America trade saw stable cargo movement driven by strong consumer spending, in addition to concern about the labour negotiations in the East Coast and Gulf ports. The Asia-Europe trade also experienced strong cargo movement.
Jeremy Nixon, CEO of Ocean Network Express says, 'The overall business environment for container shipping continues to be generally positive, but with increased geo-political and regional economic uncertainty. We are expecting a relatively quick recovery in cargo volumes after the Lunar New Year.
'Meantime ONE will continue to closely monitor overall maritime security and landside operational constraints, whilst focusing on the smoothest possible network transition to the PREMIER Alliance and further enhancing service quality levels to our customers.'
SeaNews Turkey
one now expects US$4.034 billion in net profit for its operating year ending March 31, upping the forecast by almost $1 billion from $3.095 billion after posting a strong fiscal third quarter with significant gains in revenue and earnings.
The full-year net profit as forecast would be a 30 per cent increase over the previous year, even as container shipping enters its traditional slack season following the rush to export in the run up to the Lunar New Year.
'A slowdown in cargo movement is expected, coupled with increasing uncertainty in the business environment,' ONE said in its earnings statement.
The revenue for Q3 FY2024 was $4.846 billion, up 44 per cent from the same quarter of the last year, with net profit $1.156 million (YoY +$1.239 billion).
The Asia-North America trade saw stable cargo movement driven by strong consumer spending, in addition to concern about the labour negotiations in the East Coast and Gulf ports. The Asia-Europe trade also experienced strong cargo movement.
Jeremy Nixon, CEO of Ocean Network Express says, 'The overall business environment for container shipping continues to be generally positive, but with increased geo-political and regional economic uncertainty. We are expecting a relatively quick recovery in cargo volumes after the Lunar New Year.
'Meantime ONE will continue to closely monitor overall maritime security and landside operational constraints, whilst focusing on the smoothest possible network transition to the PREMIER Alliance and further enhancing service quality levels to our customers.'
SeaNews Turkey
