ONE releases financial results for FY 2025

The market in the first quarter showed increased volatility compared to the same period in the previous fiscal year, with lower average freight rates and fluctuating demand due to uncertainties surrounding tariffs.

Despite these challenges, ONE achieved a net profit of US$ 86 million in 1Q.

The market continued to face difficulties, including persistent rerouting of vessels via the Cape of Good Hope, but the delivery of new vessels continued, contributing to a rise in global shipping capacity.

Tariff uncertainties led to a slowdown in demand after the US announced “reciprocal tariffs” in April.

However, the situation improved following the US-China agreement to reduce import tariffs for 90 days in May, leading to a surge in capacity on the Trans-Pacific trade route during the tariff pause.

Jeremy Nixon, CEO of Ocean Network Express, commented the FY2025 1Q results highlight an adaptability in the face of ongoing geopolitical and economic challenges as they anticipate that the full-year forecast may encounter headwinds due to continued geopolitical uncertainties, evolving market conditions in key economies, and port congestion affecting global supply chains.

Regarding the full-year forecast for FY2025, ONE noted that the current global environment remains highly uncertain. Security risks continue to be a concern, as evidenced by ongoing incidents in the Red Sea. As a result, vessels are expected to continue rerouting around the Cape of Good Hope, which will place sustained pressure on the global supply chain.

Additionally, recent trade uncertainties have further complicated the outlook for the latter half of the fiscal year.