ONE shipping line reports record profit increase in fiscal year 2021

A container ship of ONE (Photo: ONE)

 
ONE (Ocean Network Express) posted a record profit of $16.75 billion in fiscal year 2021, which begins April 1, 2021 and ends March 31, 2022.

Shipping line ONE - based in Singapore - saw a sharp increase in profit of 381% mainly due to still high spot container freight rates, due to shortage of supply, despite increased operating costs, mainly higher ships cost.

According to ONE's report, all of its major financial figures have grown strongly compared to 2020, with revenue almost doubling to $30 billion, EBITDA up 276% to $18 billion, and EBIT up 349% to $17 billion.

Report on business results for fiscal year 2021 of ONE shipping line (Source: ONE)

However, the container volume that ONE shipping line transported in fiscal year 2021 was almost unchanged from the previous year, with the volume of 12 million TEUs.

ONE's forecast for 2022 is yet to be finalized. The carrier said it was difficult to announce a reasonable business forecast for the upcoming financial year, as the continued Covid-19 pandemic and protracted war in Ukraine could have unexpected effects on global trade.

ONE is the sixth largest container shipping company in the world in terms of TEU capacity with 205 container ships and the capacity of 1.5 million TEUs.

Read more:

• Madrid Bridge ship of ONE suffered a stack collapse and lost at least 30 containers
• ONE posted a profit of 4 billion USD in Q2 and expected to reach 12 billion USD in profit in 2021
• Shipping line ONE cooperates with WAVE BL to deploy electronic bill of lading (eBL)
• ONE forecasts a profit of 6 billion USD in the first 6 months of the year

Source: Phaata.com (According to ONE)

Phaata - Vietnam's First Global Logistics Marketplace
► Find Better Freight Rates & Logistics Services