Ocean Network Express’ announcement that its quarterly profit “significantly increased” could be the understatement of understatements. ONE’s third-quarter after-tax profit skyrocketed by something along the lines of 18,800% — from $5 million in 2019 to $944 million in 2020.
ONE’s fiscal year runs from April 1 to March 31. The Singapore-headquartered ocean carrier, which launched service in April 2018, has been steadily gaining steam, turning the ship around from a fiscal-year loss of $585...
https://www.freightwaves.com/news/one-has-second-quarter-of-significantly-increased-profit