ONE doubles full-year profit forecast to $2 billion on rate surge

· Logistics · Singapore

Ocean Network Express doubled its full-year profit forecast to about $2 billion after net profit for the July-September quarter jumped to $1.3 billion from $285 million a year earlier, the Singapore-based carrier said. Higher freight rates and cargo volumes drove the rebound, with the profit more than quadrupling quarter over quarter at the comparable period. ONE said spot rates are expected to soften in the coming months as seasonal cargo demand fades, but they should stay above the levels assumed in its previous upgrade in August. The guidance lift follows a sharp earnings swing for the liner, which operates in the same east-west trades as larger rivals and is benefiting from a market where rates have held near highs late into the traditional peak season.

Why it matters：ONE is the first major liner to quantify how much of the rate rally it expects to keep, giving shippers and competitors a benchmark for contract negotiations as peak-season pricing fades.

Key points

  • Second-quarter net profit of $1.3 billion compared with $285 million a year earlier.
  • The carrier expects softer spot rates in the second half but above August assumptions.
  • Profit forecast raised from a prior upgrade made in August.

Sources (original reporting)

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