Japanese carrier Ocean Network Express (ONE) has kicked off the quarterly financial results reporting season with a $167m net profit for April-June.
Despite seeing liftings slump by about 20% on its Q1 of last year, to 2.67m teu, the merged carrier’s revenue declined by just 4.8% to $2.74bn, as freight rates spiked in response to tight capacity on the major east-west tradelanes.
Additionally boosted by a 20% fall in the price of …
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https://theloadstar.com/one-q1-profit-soars-3000-on-2019-thanks-to-cheaper-fuel-and-higher-rates/