ONE earns nearly one billion dollars in lucrative container market

Ocean Network Express, like its competitors, has benefited from towering rates, which were turned into a profit close to USD 1 billion in the last quarter of 2020. However, far from all containers are shipped at record rates, notes shipping analyst.

Photo: PR / Ocean Network Express

The increased demand for freight combined with higher rates created favorable conditions for Ocean Network Express, ONE, during the last three months of the year, in which the profit nears USD 1 billion.

More specifically, ONE's bottom line comes to USD 944 million for the fourth quarter of the year - ONE's third quarter due to its staggered fiscal year - which is significantly more than during the same period last year, when the same figure came to USD 5 million.

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