News / ONE hits $126m profit in second quarter, but expects a loss in H2

Japanese carrier Ocean Network Express (ONE) almost hit its target for profitability in the second quarter of its fiscal year, which ended 30 September, posting a positive result of $121m.

Thus, after six months, ONE is in the black to the tune of $126m, earned on revenue of $5.98bn.

It said cost reductions and the fall in bunker prices had mitigated the impact of a drop in liftings due to “US-China trade issues and a deterioration in the supply-demand balance in the ...