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27 November 2021 The on-line newspaper devoted to the world of transports 13:05 GMT+1

October 29, 2021

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Original news
ONE closes the third quarter with record financial results

Revenues increased by +138%

The start of the activity of One Network Express (ONE), the joint venture formed by the Japanese shipowning groups "K" Line, EBITDA and NYK own 31%, 31% and 38% respectively of capital, had not been at all satisfactory for the three Japanese partners who had brought their activities together in the field of maritime transport of containers. With the beginning of the operational activity of ONE, which took place on the first of April In 2018, management difficulties were immediately manifested that had resulted in a drastic reduction in revenues that in previously "K" Line, MOL and NYK got from this segment of activity.

Now things are much better since ONE, thanks to the exceptionally favourable period for companies in the sector, starting from the last quarter of 2020 has experienced an escalation of the turnover that is now much higher than that totaled together by the three Japanese groups in this sector of activity and that in the third quarter of this year has reached a record value.

In the period July-September of 2021, corresponding to the second quarter of the fiscal year 2021 of ONE, the Japanese company in fact, it reported revenues of 7.56 billion dollars, value never so high before and that represents an increase +138% on the same period last year. Also EBITDA and EBIT reached record values of 4.57 respectively billion dollars (+435%) and 4,29 billion dollars (+612%). A new historical peak was also marked by net profit which amounted to 4.20 billion dollars (+715%).

In the third quarter of this year the ONE carriers used on routes between Asia and Europe have transported cargo equal to a total of 790 thousand teu (+12%), of which 443 thousand teu verso Europe (+6%) and 347 thousand teu towards Asia (+20%). The volumes of containerized cargoes transported by the fleet on routes Asia-North America transpacifics, on the other hand, declined of -12% having been equal to 958 thousand teu, of which 649 thousand on the eastbound relationship (-15%) and 309 thousand on westbound (-6%).

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