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ONE reports record Q1 profit of $5.5bn

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Liftings declined 5 percent at 2.9 million TEUs compared to 3.1 million TEUs in Q12021
Ocean Network Express (ONE) reported a more than doubling of profit at $5.5 billion for the first quarter ended June 30, 2022, on higher freight rates. Revenue increased 56 percent to $9.01 billion from $5.8 billion in Q12021. Bunker price zoomed 61 percent to $750/MT from $465/MT in the corresponding period last year. Liftings declined 5 percent at 2.9 million TEUs compared to 3.1 million TEUs in Q12021, according to a statement announcing the results.

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