ONE takes great leap in 2020
In 2020, Singapore-headquartered Ocean Network Express (ONE) generated a turnover of USD 14.4 billion, which is a significant 21.3% above the level of FY/2019 (USD 11,9 billion).
Profit saw a peak with USD 3.5 billion, a multiple of the profit in the previous year (USD 105 million). This increase is mainly due to the recovery of cargo demand and an upturn in the short-term freight market. The Japanese Group handled 11.96 million teu in total.
After the first wave of the pandemic, volumes recovered swiftly after the Chinese Lunar New Year and freight increased significantly from Q3 to Q4/2020.
To keep up the growth level in 2021, ONE decided in accordance with The Alliance to launch the new Asia-US Gulf service (EC6) and to merge the EC1 and EC3 on the Asia-EC North America route through the deployment of larger vessels and the restructuring and capacity boost of the Transatlantic services. The launch of the new Asia-East Africa (EAF) service in April 2021 is another step in this direction. (cd)