ONE lifts full-year profit outlook after strong second quarter

Ocean Network Express (ONE) reported a net profit of US$1.32 billion for the second quarter of FY2026, up from US$285 million in the same period last year.

Revenue increased to US$6.27 billion from US$4.46 billion, supported by higher cargo volumes and stronger freight rates. EBITDA more than doubled to US$1.99 billion, while operating profit rose to US$1.36 billion.

The Singapore-headquartered carrier transported 3.4 million TEUs during the quarter, compared with 3.26 million TEUs a year earlier. Its average freight rate increased to US$1,709 per TEU from US$1,252.

Higher ship, variable and bunker costs partly offset the improvement. ONE’s average bunker price reached US$749 per tonne during the quarter, up from US$518 a year earlier.

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