ONE net income surges to $1.999 billion in Q2

By Genivi Verdejo

Nov 06, 2024 12:10 am

OCEAN Network Express (ONE) reported a second-quarter net profit of $1.999 billion, up 969 percent from last year's same quarter, driven by strong cargo movement and early peak season demand.

Cargo movements from Asia to North America increased by 18 percent year on year in July and August. ONE attributes this growth to robust domestic consumption in the United States, prompting customers to advance shipments in anticipation of potential supply chain disruptions.

ONE anticipates a profit of $3.095 billion for the full year of 2024, though forecasting remains challenging due to the unpredictable nature of global shipping. PHOTO FROM ONE OCEAN NETWORK

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