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ONE grows profit four-fold in first six months on booming rates

The towering freight rates made Japanese ONE's result grow by more than 400 percent in the first half of the year. But the pandemic still creates uncertainty.

Photo: PR / ONE

Singapore-based container line ONE rode the wave of towering rates in the first half of the year, and this is very much reflected in the shipping company's bottom line, which increased more than four-fold, shows the interim report published Friday.

ONE, headed by CEO Jeremy Nixon, finished the first half of the year with a net profit of USD 682 million, a 441 percent improvement compared to the same period last year.

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