ONE profits soar, thanks to surging rates and volumes

Ocean Network Express (ONE) has doubled its full-year profit forecasts to $2bn, after more than quadrupling its net profit for the three months to September, amid a surge in rates and volumes.

Over the second quarter, July-October for the Singapore-based carrier, net profit hit $1.3bn, compared with just $285m, a year earlier, with revenue climbing 41% year on year, to $6.3bn.

CEO Till Ole Barrelet said: “The second quarter delivered a strong financial performance, contributing to a solid first half of FY2026, reflecting our team’s success in growing volumes and achieving higher utilisation, despite a challenging environment.

“Reflecting this positive momentum, we are pleased to raise full-year outlook to $2bn. Looking ahead, we will adapt our network in response to evolving conditions, with safety remaining our top priority.”

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