Ocean Network Express (ONE) reported a 12% year-on-year revenue increase in today’s Q1 results, along with a bullish outlook for full-year earnings, but the ocean shipping market has reached a “tipping point”, according to Xeneta.
ONE revenue for Q1 was $4.2bn, resulting in a $779m net profit, up $266m on the same period last year, which, as the carrier’s financial year is offset, is April to June.
Ebit was $667m and …
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