News / ONE sails into the black, as promised, but it must now navigate the virus

01/05/2020

Merged Japanese container carrier Ocean Network Express (ONE) has posted a $105m net profit for full-year 2019 after post-merger synergies improved its bottom line.

It represented a massive reversal of fortunes for a carrier which posted a $586m loss in 2018, coming about with a 9.1% increase in revenue to $11.9bn, as well as further cost cuts.

Increased cost efficiency was one of the main reasons behind linking the three container lines, and the merged carrier said that, by the end of ...

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Ming Zheng
May 02, 2020 at 2:31 am
In the 3rd paragraph, you reported that “eliminating more than one million dollars from its combined cost base”.

Please note that the correct reporting should be “more than one billion dollars”.

Considering the fact that your reporting is widely quoted globally, such a significant error should be corrected in a public statement by your editor.

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- Gavin van Marle
  May 02, 2020 at 1:29 pm
  The article has now been amended – apologies for the error and any incovenience caused.
  Kind regards,
  Gavin van Marle
  Managing Editor
  
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