OCEAN Network Express (ONE) has reported a net profit of $4.2 billion for the financial year 2024, marking a remarkable 336 percent increase from $974 million in FY 2023, despite ongoing geopolitical tensions and regional economic uncertainties.
Revenue for the year surged by 32 percent, reaching $19.2 billion compared to $14.5 billion in FY 2023. This growth is attributed to strong global demand and the expansion of ONE's service offerings, which have enhanced its competitive position in the container shipping market.
ONE's Ebitda also saw significant growth, rising by 192 percent from $2.04 billion in FY 2023 to $5.96 billion in FY 2024. This further highlights the company's ability to efficiently manage operations and respond to market demands.
Jeremy Nixon, CEO of Ocean Network Express, said, "We are pleased to report a profit of $4.2 billion for FY 2024 — an achievement realized despite ongoing geopolitical tensions and regional economic uncertainties. Through our participation in the newly established The Premier Alliance, launched in February, along with various other service partnerships, we have further expanded our global network and enhanced our service offerings to better meet customers' evolving needs."
With a fleet of over 260 vessels, ONE continues to strengthen its global presence, providing reliable container shipping services to more than 120 countries. Its strategic alliances, including involvement in The Premier Alliance, have bolstered its market position, improving service reliability and better serving customer demands.