Ocean Network Express (ONE) expects profit for the second half of fiscal 2022 to be lower than the profit it reported for the second quarter due to the effects of falling demand and a deteriorating freight market.
Reporting results for the second quarter ended September 30, 2022 ONE posted $5.52 billion in profit over the three-month period, up from $1.32 billion year-over-year.
The company recorded a sudden drop in demand in August and September, along with a sharp drop in spot container freight rates. “Despite the deteriorating market situation, freight rates remained high throughout the second quarter compared with the same period last year, supporting the profit figure,” said ONE. In the first half of fiscal 2022, the Japanese-owned container shipping company reported a profit of $11.02 billion.
Looking at the second half of fiscal 2022, ending March 31, 2023 ONE expects a significantly lower profit margin than reported for the first half of the year. “The drop in freight demand is expected to continue into the second half of the year, resulting in a forecast profit after tax of $4,250 million in the second half of fiscal 2022,” the carrier said.
As a result, the full-year profit forecast for fiscal year 22 is $15.27 billion, about $1.49 billion lower than the previous year. This reflects reduced demand and a deteriorating freight market.
In recent years, Vietnam has continuously strengthened its international partnerships and fostered long-term, sustainable relationships with countries around the world, aiming to boost economic growth through trade and global goods exchange.
As the United States officially imposes countervailing duties of up to 46% on certain export products from Vietnam, the Vietnamese logistics sector is facing significant challenges—including rising operational costs, longer shipping times, and the risk of supply chain disruptions.
It is evident that digitalization has become the defining trend of the modern era. Across all industries and sectors, businesses are shifting from traditional development strategies to automation and digital transformation, aiming to optimize operational efficiency and productivity.
Glotrans Holiday Notice – Vietnam Independence Day (02/09/2025) Dear Valued Customers and Partners, Glotrans would like to inform you of our Vietnam Independence Day holiday schedule as follows:
On August 15, 2025, the Glotrans family proudly celebrates the 16th anniversary of the company’s establishment (2009 – 2025) – a remarkable milestone that marks our journey of formation, growth, and continuous advancement in both domestic and international logistics markets.
"One Team – One Will – One Journey" – this is not just a slogan, but the very spirit that ran through the 2025 Team Building trip of the Glotrans Da Nang and Glotrans Quy Nhon family.
