Ocean Network Express (ONE) released the financial result for FY2024 2nd Quarter (from July 2024 to September 2024). The revenue for FY2024 2nd quarter was USD 5,864 million, up 65% from the same quarter of the last year, with a net profit of USD 1,999 million (YoY +USD 1,812 million).
The Asia-North America and Asia-Europe trades have experienced strong demand, driven by consistent consumer demand and an early peak season in July and August. In addition, early shipments in the North American trade are in response to potential supply chain disruptions.
Net profit guidance
For the full year forecast for FY2024, net profit guidance is revised to USD 3,095 million from USD 2,745 million which was announced on 31 July.
Jeremy Nixon, CEO of Ocean Network Express, said, "In addition to the current geopolitical situation, the industry faces added uncertainty around the final outcome of the USA elections and USEC port labour situation. ONE will continue to closely monitor evolving macro conditions and maintain an agile and effective control of its global operations and customer service delivery performance. Including a successful launch of the new Premier Alliance E-W network from January."