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...]

Japan’s ONE Carrier Network Flags $600 Million Loss in First Year

By Mike Wackett (The Loadstar) - Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, as it struggles to “restore the trust of customers” after the chaotic April launch. ONE has alerted shareholders of K Line, MOL and NYK to a $310m loss for the half-year period to 30 September. Moreover, the merged carrier network has … [Read more...]

ONE Presents 2020 Global Sulphur Limit Plan

Freshly-minted ocean carrier ONE says it has identified using low sulphur Hybrid oil as the best solution for complying with the upcoming 2020 global sulphur limit for bunker fuel. ONE Line, which launched in April following the combination of Japanese container lines NYK, MOL, and K-Line, revealed details of its 2020 plan this week after reviewing options, namely low … [Read more...]