Ocean Network Express (ONE) has released its financial results for FY2025 1st quarter (April 2025 to June 2025).
The market in 1Q showed greater volatility when compared to the same period in the previous fiscal year, experiencing lower average freight rates and fluctuating demand amid uncertainties surrounding tariffs. For 1Q, ONE achieved a net profit of US$ 86 million despite a challenging environment. The revenue for FY2025 1st quarter was US$ 4,049 million.
• Despite persistent rerouting of vessels via the Cape of Good Hope, deliveries of new vessels continue, increasing the global shipping capacity.
• Driven by tariff uncertainties, demand slowed down after the US announced "reciprocal tariffs" in April, though it became robust following the
US-China agreement to slash import tariffs for 90 days in May.
• The 90-day tariff pause led to an increase in capacity on the TP trade
Jeremy Nixon, CEO of Ocean Network Express, says, "Our FY2025 1Q results show our adaptability amid ongoing geopolitical and economic challenges. Our full year forecast is likely to face headwinds from continued geopolitical uncertainties and evolving market conditions in key economies and port congestion that impact global supply chains. We are optimizing our cargo portfolio and vessel deployment while implementing measures to address logistical challenges. This ensures we maintain agile, efficient operations and provide customers with quality service."
About Ocean Network Express (ONE)
Ocean Network Express (ONE), headquartered in Singapore, is one of the world’s leading liner shipping companies. It operates a fleet of over 260 vessels with a capacity exceeding 2 million TEUs. Through its extensive global network, ONE provides reliable container shipping services to over 120 countries.