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...]

ONE CEO Reflects on Launch Losses and Unveils Recovery Strategy

By Mike Wackett (The Loadstar) - The Ocean Network Express (ONE) management “underestimated the initial launch resource requirement” in April, resulting in a significant loss of business and a $400m impact on its bottom line. This was the stark admission of chief executive Jeremy Nixon to a group of investors in Tokyo this week. Profitability from synergy cost savings of … [Read more...]

CMA CGM Gets Transpacific Bonus as Shippers Shun ONE After Botched Launch

By Gavin van Marle (The Loadstar) - Transpacific volumes handled by CMA CGM soared this year as shippers abandoned the major Japanese carriers after the botched Ocean Network Express (ONE) launch. According to new research by Alphaliner, the Ocean Alliance carrier was the main beneficiary as volumes handled by ONE on the headhaul eastbound trade from Asia to North America … [Read more...]