News / Earnings better than forecast for ONE's final quarter, despite slowdown

Jeremy Nixon MD ONE

ONE’s more-effective capacity management, along with a tailwind from expiring contract rates, has resulted in better-than-expected earnings.

The Japanese carrier’s net profit for its Q4 – its reporting year runs from April to March – came in at $1.2bn, an improvement on its January forecast of $940m.

Tighter supply through more blanked sailings and the continued strategy of diverting some Asia-Europe and Asia-US east coast backhaul vessels via the longer Cape of Good Hope route, helped.

And judicious capacity control improved load factors ...