Another container shipper reports

[HohumYNWA]

X-post link on Shipping News board.

7th largest container (liner) entity -Ocean Network Express (ONE) reports

Another liner co surprises

In early October, COSCO subsidiary OOCL report good Q3 2022 results. This, even though the company had seen volume declines on two major routes. Well, another entity, Ocean Network Express (ONE) - a grouping of Japanese container companies reported their July-Sept 2022 quarterly earnings (Q2 for ONE) Surprise! … $5.5B in profits. Also, August & September did experience a “sudden decline”

That’s two Asian-based liner entities that have reported a couple of similar stats

1. Business has been good YTD.
2. Business has seen a volume drop during the quarter

ONE didn’t have a stat for routes. But, I’m going to guess “stocking for Christmas/holidays” got severely curtailed in 2022