News / 'Sudden decline in demand' hits ONE liftings and profits in second half

Japanese ocean carrier ONE says it expects profitability to contract by 60%, year on year, in the second half of its fiscal year, ending on 31 March 2023, as trading conditions on global liner trades worsen.

After a strong performance in July, ONE said it had experienced a “sudden decline” in demand in the following two months and said it would “take some time for cargo movements and short-term freight rates to recover”.

However, CEO Jeremy Nixon is optimistic that a “closer ...