Maritime Market News
ONE first-quarter losses impact partners
Ngày đăng: 02/08/2018 | Lượt xem: 139
OCEAN Network Express, the container shipping joint venture set up by NYK, MOL and K Line, posted $120m net loss in its first quarter since starting operation in April.
The loss was mainly attributed to lower lifting volume caused by “teething problems that affected service quality during the operation start-up period”, ONE said in a briefing material.
The Japanese-owned, Singapore-based carrier was earlier hit by booking system issues owing to insufficient manpower and preparation of the administrative processes.
ONE’s revenue in the first quarter stood at $2.1bn, while combined liftings on transpacific and Asia-Europe westbound trades amounted to 842,000 teu.
The company forecast a gradual recovery in performance for the fiscal year to March 31, 2019.
The company estimated a net profit of $82m and $147m net in the second quarter and second half of the year.
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