News

Financial year 2020

ONE’S profits hit an all-time high

by Port News Editorial Staff

OCEAN Network Express closed its fiscal year (which ended on March 31st) with a 3000% rise in net profit thanks to increased market demand and freight rates that remained at very high levels throughout 2020.

The company, owned by Japan’s ‘K’ Line, MOL and NYK, reported profits of $3.5 billion. Revenues rose by 21.3% to $14.4 billion.

During the same period, a total of 4.1 million TEUs were transported on transpacific routes, up 2.8% year-on-year, while 2.8 million TEUs were shipped on the Asia-Europe route (down 12.4%).

Translation by Giles Foster