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Wednesday, 04/08/2021, 21:07 (GMT +7)
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ONE forecasts a profit of 6 billion USD in the first 6 months of the year
Shipping line ONE (Ocean Network Express) recorded a profit of $2.56 billion for the first quarter and forecast an after-tax profit of $6 billion for the first six months of the year.
Container vessel of ONE (Photo: ONE Line)
Good fortune in the field of container shipping is clearly shown through financial numbers. Shipping line ONE recorded a profit of $2.56 billion for the first quarter ended June 30, 2021.
Reporting a 1,432% year-over-year increase in profit, ONE is expecting even better results in the current quarter with a forecast of $6 billion in after-tax profit for the first six months of the year. Revenue in the first quarter of this year increased 111% to $5.78 billion.
“Whilst the current demand is rapidly increasing, the excessive strain on the entire global supply chain triggered by operational restrictions resulting from Covid-19 pandemic still remains” ONE commented.
As cargo volumes surge across multiple routes but encounter port congestion and container capacity issues that have strained global supply chains, container carriers have benefited from increase freight rates.
ONE said that market volume on the Asia-North America route from January to June increased 40% year-on-year and increased 27% year-on-year in the same period of fiscal 2019 - pre-pandemic period.
See more:
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- Container shipping line alliances have a 5% cancellation rate
- When will supply chain disruptions and exorbitant freight rates end?
Source: Phaata.com (According to SeatradeMaritime)
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