The Ocean Network Express (ONE) has seen its first quarterly profit since it launched on April 1 last year, merging the container businesses of K Line, MOL and NYK.
In a statement on its website, the Japanese network said it had recorded a net profit of US$5m in the first quarter of its fiscal year, which ends 31 March 2020. This is compared with the loss of US$120 million a year earlier.
Total container liftings of 1.8 million twenty-foot equivalent units (TEU) were also up, compared with 1.25 million TEU in the first quarter of the previous financial year.
