Japanese ocean carrier ONE (Ocean Network Express) reported a profit of US$515 million for its second quarter, between July and September, reports London's Loadstar.
The Profit Is On Track To Be $1 Billion In The
Black For The Full Year.
"K" Line, MOL, and NYK is the first significant carrier to report financial results for Q3 in a period
that's assumed to be more of a bumper period for an industry surprisingly
boosted by strong demand.
However,
ONE's revenue for H1 was down at $5.92 billion and the carrier's profit for the
six months improved to $682 million, compared to $126 million before.
"From
Q1 and through Q2 the supply and demand balance improved for all trades, most
notably Asia-North America where liftings recovered to the level of the
previous year," said ONE.
ONE
also saw a 23 per cent fall in the average cost of bunker fuel for its ships to
$328 per ton. It also saw the deployment of THE Alliance member Hyundai
Merchant Marine (HMM) newbuild 24,000-TEU ultra large container vessel (ULCV)
fleet on the Asia-North Europe trade lane.
The
transpacific trade carried 1,375,000 TEU on the leg during the H1 period, which
is up 125,000 TEU compared to the year prior.
ONE
had a load factor 97 per cent on Asia-Europe head haul and the liftings of
766,000 TEU was down 116,000 TEU.
"The
low volume development is clearly the result of the aggressive blanking
programme that helped cut costs and improve profitability at the height of the
pandemic impact," said Sea Intelligence CEO Lars Jensen.
Cosco
subsidiary Orient Overseas International (OOCL), reported 11.1 per cent growth
in transpacific volumes in Q2, compared with just 0.9 per cent by ONE.
Source
: HKSG / Photo : Marine Insight.
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