ONE doubles full-year profit forecast after quarterly profit surge

· Shipping · Singapore

Ocean Network Express (ONE) more than doubled its full-year profit forecast to $2 billion after net profit for the July-October quarter hit $1.3 billion, compared with $285 million a year earlier. The Singapore-based carrier said higher freight rates and cargo volumes drove the result, with improved utilisation across all trades, extra loaders deployed to match demand and a service network optimised to limit delays. ONE acknowledged spot rates are expected to ease in the coming months as cargo demand softens seasonally, but said they should remain above the levels assumed in its previous forecast, which it upgraded in August. The upgrade follows a period of strong container shipping earnings on several major trades.

Why it matters：ONE's upgrade signals that container carriers' earnings remain elevated even as spot rates are expected to soften, a key input for shippers negotiating 2027 contracts.

Key points

  • Second-quarter net profit reached $1.3 billion versus $285 million a year earlier
  • Full-year profit forecast doubled to $2 billion
  • ONE cited higher utilisation, extra loaders and network optimisation

Sources (original reporting)

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