ONE FORECASTS MORE DIFFICULT BUSINESS WHEN DEMAND AND FREIGHT RATES DECREASE IN THE NEAR FUTURE

Ocean Network Express (ONE) expects profit for the second half of fiscal 2022 to be lower than the profit it reported for the second quarter due to the effects of falling demand and a deteriorating freight market.

Reporting results for the second quarter ended September 30, 2022 ONE posted $5.52 billion in profit over the three-month period, up from $1.32 billion year-over-year.

The company recorded a sudden drop in demand in August and September, along with a sharp drop in spot container freight rates. “Despite the deteriorating market situation, freight rates remained high throughout the second quarter compared with the same period last year, supporting the profit figure,” said ONE. In the first half of fiscal 2022, the Japanese-owned container shipping company reported a profit of $11.02 billion.

Looking at the second half of fiscal 2022, ending March 31, 2023 ONE expects a significantly lower profit margin than reported for the first half of the year. “The drop in freight demand is expected to continue into the second half of the year, resulting in a forecast profit after tax of $4,250 million in the second half of fiscal 2022,” the carrier said.

As a result, the full-year profit forecast for fiscal year 22 is $15.27 billion, about $1.49 billion lower than the previous year. This reflects reduced demand and a deteriorating freight market.

 

Related News

EXPANDING AIR LOGISTICS COOPERATION BETWEEN VIETNAM AND AFRICA

In recent years, Vietnam has continuously strengthened its international partnerships and fostered long-term, sustainable relationships with countries around the world, aiming to boost economic growth through trade and global goods exchange.

HOW VLA IS RESPONDING TO THE U.S. COUNTERVAILING DUTIES

As the United States officially imposes countervailing duties of up to 46% on certain export products from Vietnam, the Vietnamese logistics sector is facing significant challenges—including rising operational costs, longer shipping times, and the risk of supply chain disruptions.

DIGITALIZATION – A NEW GATEWAY FOR VIETNAM’S LOGISTICS SECTOR

It is evident that digitalization has become the defining trend of the modern era. Across all industries and sectors, businesses are shifting from traditional development strategies to automation and digital transformation, aiming to optimize operational efficiency and productivity.

Related News

GLOTRANS ATTENDS THE 7TH OLO CONFERENCE IN HO CHI MINH CITY: GLOBAL CONNECTION – EXPANDING OPPORTUNITIES

On June 22–23, 2025, Glotrans was honored to participate in the 7th Global Logistics Cooperation Conference (OLO), held in Ho Chi Minh City. This annual event, organized by OLO, brings together hundreds of freight forwarding companies from over 100 countries worldwide.

GLOTRANS STANDS OUT AT “RUN WITH TAN CANG SAI GON 2025”

Sharing his thoughts on the event, the General Director of Glotrans emphasized: "Glotrans always places a strong emphasis on employee health

GLOTRANS HCM CONDUCTS BASIC FAST PRO OPERATION TRAINING FOR SALES STAFF

As part of its commitment to improving customer service quality and strengthening internal training efforts, Glotrans HCM held a training session on June 6, focusing on the module