News / ONE reports soaring 2020 profits, but stays cautious on predictions for this year

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Japanese container line ONE today reported a $3.5bn profit for 2020 – an astonishing leap from the $105m profit declared for 2019.

The earnings surge came on the back of a 21% increase in annual revenue, to $14.4bn, as the container shipping market rebounded in the second half of last year.

ONE said: “During Q4, global container volumes continued to increase due to a strong demand for consumer goods. Asia-North America trade volume increased by 40% year on year.

“The global cargo volume ...