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30 May 2020 The on-line newspaper devoted to the world of transports 23:16 GMT+2

April 30, 2020

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Original news
Japan's ONE ended the first quarter with a net loss of -27 million dollars

The quarterly net profit of the Mitsui O.S.K. Lines

In the first quarter of this year, net economic Japan's Ocean Network Express (ONE) is back in negative territory. The shipping company was formed on 7 July 2017 by Japanese shipping groups Kawasaki Kisen Kaisha ("K" Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) through the merger of containerized shipping activities. ONE became operational on April 1, 2018 and after the first four quarters of activity, which ended in loss due to organizational and operational difficulties, the company started to post earnings until the first quarter of 2020 was filed with a net loss of -27 million dollars compared to a net loss of -96 million dollars in the 2019, also due to the impact on operations of the measures taken worldwide to contain the Pandemic of Covid-19, impact -- specified today the ONE -- which has had a direct effect on variable costs and load volumes containers transported by the fleet.

In the first three months of this year, the period in which volumes containers carried by one's container carriers are decreased by -2.1% ( 20 April 2020), Ocean Network Express revenues increased by 5.0% to almost USD 3.0 billion compared to more than 2.8 billion in the January-March period of last year.

As of March 31, one's fleet consisted of 222 ships with a containerized cargo capacity of 1.57 millions of teu.

Meanwhile, the Japanese shipping group MOL, which owns 31% ONE's capital (NYK owns 38% and "K" Line, 31%), announced that it had completed fiscal year 2019, which ended March 31, with revenues of 1,155.4 billion yen (10.8 billion U.S. dollars), with a decline in the -6.4% on the previous fiscal year. Operating profit 23.8 billion yen (-37.0%) net profit at 32.6 yen (21.4%).

In the fourth quarter of fiscal 2019 alone, the group totaled a net loss of -15.9 billion yen on revenues of 288.1 billion yen compared to a profit 6.8 billion yen net on revenues of 291.8 billion yen January-March last year. Negative sign also operating profit of -524.0 million yen compared to an operating profit of 8.0 billion yen in the last quarter of fiscal 2018.

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