ONE Reports Quarterly Profit, But Losses Expected

By Mike Wackett (The Loadstar) - Japanese carrier Ocean Network Express (ONE) almost hit its target for profitability in the second quarter of its fiscal year, which ended 30 September, posting a positive result of $121m. Thus, after six months, ONE is in the black to the tune of $126m, earned on revenue of $5.98bn. It said cost reductions and the fall in bunker prices … [Read more...]

ONE Containership Hits Moored Chemical Tanker in Greece

A ONE Line containership was involved in a collision with a moored chemical tanker at the Port of Perama near Piraeus, Greece on Friday, reportedly causing major damage to the tanker. Ocean Network Express confirmed in a statement that its M/V ONE BLUE JAY came into contact with the tanker at around 1409 local time on Thursday. There are no reports of pollution from the … [Read more...]

ONE Posts First Profit

By Mike Wackett (The Loadstar) - Japanese carrier Ocean Network Express (ONE) has posted its first quarterly profit since the merger of the container businesses of K Line, MOL and NYK on 1 April last year. ONE recorded a net profit of $5m in the first quarter of its fiscal year, which ends 31 March 2020, and has upgraded its outlook to a full-year profit of $90m. The … [Read more...]

Hapag-Lloyd and ONE Join Maersk’s Blockchain-Based TradeLens Platform

Maersk has signed up container shipping rivals Hapag-Lloyd and Ocean Networks Express (ONE) for its blockchain-based TradeLens digital shipping platform.  Hapag-Lloyd and ONE, the world’s fifth and sixth largest carriers by capacity, respectively, will join CMA CGM and MSC Mediterranean Shipping Company, the world's second and fourth largest carriers, who recently … [Read more...]

ONE Loss Hits Parent Carriers

By Mike Wackett (The Loadstar) - Japanese merged carrier Ocean Network Express (ONE) recorded a net loss of $586m in its first year of operation, however it said it expected to move into the black in its second year. ONE, formed from the container businesses of K Line, MOL and NYK, was supposed to produce synergistic returns for its parents. Instead it has dragged down … [Read more...]