Ocean Network Express (ONE) reported revenue of USD 4.455 billion in the second quarter of fiscal year 2025, between July and September, with a net profit of USD 285 million. This result represented a 24% reduction compared to the same period in 2024, when the company recorded profits of USD 5.864 billion.
The shipping company explained that, in the reviewed period, the average freight rate was slightly higher than in the first quarter, although spot prices decreased towards the end of the period.
Furthermore, cargo demand surged in July, due to the forward movement of shipments ahead of imminent US tariff deadlines, especially on Asia-North America routes.
In another area, new vessel deliveries continued during the first half of the year, which increased global capacity, while persistent diversions via the Red Sea partially absorbed this available capacity.
Jeremy Nixon, CEO of Ocean Network Express, stated that “the results for the second quarter of fiscal year 2025 highlight the resilience and stability of ONE in a complex market. Despite market fluctuations stemming from geopolitical uncertainty, we achieved positive results and maintained profitability during the first half of the fiscal year.”
“We maintain a prudent outlook for the remainder of the year, given the current market dynamics. We will continue to implement measures to adapt our network and optimize our fleet, thereby ensuring we meet market demand and provide our customers with long-term reliability,” emphasized Nixon.
