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Home News ONE reports record profit for FY2021

ONE reports record profit for FY2021

Ocean Network Express (ONE) has achieved a record profit of US$16.75 billion in the financial year 2021, which started on 1 April 2021 and ended on 31 March 2022.

The Singapore-based carrier said the huge increase of 381% in profit is mainly due to a continued high spot freight market, resulting from tight supply and demand, despite the increased operation costs, mainly due to higher ships cost.

As we can see in the table above, all the financial figures of the company have increased significantly compared to FY2020, with revenue almost doubling to US$30 billion, EBITDA soaring 276% to US$18 billion and EBIT growing 349% to US$17 billion.

Meanwhile, ONE has handled almost the same number of containers in FY2021, compared to the previous year, reporting 12 million TEU.

ONE’s forecast for FY2022 has not been finalised yet. The company says it is difficult to announce a reasonable business forecast for the coming financial year, as the continuing Covid-19 pandemic and the prolonged war in Ukraine can cause unexpected impacts on global trade.

ONE is currently the sixth largest container shipping company in the world in terms of TEU capacity with 205 container ships and 1.5 million TEU capacity.

Antonis Karamalegkos
Managing Editor

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