Singapore-based Ocean Network Express has put forth its strategy leading up to 2030, entailing investments – in ships, among other things – of USD 20bn. See the whole strategy here.
Photo: PR / Ocean Network Express
ONE, Ocean Network Express, aims to invest no less than USD 20bn in new assets before 2030, according to a strategy plan presented by the company’s CEO, Jeremy Nixon.
”ONE is committed to its Liner business and plans to invest more than USD 20bn by 2030. Investment is made to sustain a best in class supply chain for our customers and meet ONE’s future decarbonization targets,” reads the strategy.
According to analyst firm Alphaliner, ONE is the world’s sixth-largest container carrier with a current capacity of roughly 1.5 million teu spread out on 208 ships.
Investments in climate-friendly ships and port terminals
Besides new and more sustainable vessels, the USD 20bn will also be placed in port terminals, it says, and as such, ONE truly joins the on-land competition between container lines.
ONE already has a plan for investments in new ships with a capacity of 520,000 teu, however, with the new strategy, the carrier aims to add 150,000 teu every year leading up to 2030.
”To meet growing demand and our decarbonization target, ONE plans to invest in approx. 150,000 teu of newbuilding annually,” states the carrier.
Furthermore, ONE presents a climate target aiming to reduce emissions by 2030 (the so-called Scope 1 greenhouse gas target) by 70 percent per teu kilometer. In 2050, the aim is to reach net-zero emissions, covering the so-called Scope 2 and 3 targets.
ONE expects a pre-tax profit for 2021 of USD 15.4bn out of a revenue of USD 29bn. In 2020, the profit landed at USD 3.5bn out of a revenue of USD 14.4bn.
