ONE's 2021 fiscal year after-tax net profit exceeds $16.7 billion, an increase of nearly 4 times

ONE said that in fiscal 2021, the supply and demand in the global transportation market will be booming, and the freight rate in the spot market will continue to rise.

Today (April 28), Ocean Networking Shipping (ONE) announced its 2021 fiscal year (April 1, 2021 to March 31, 2022) performance report.

ONE's 2021 fiscal year after-tax net profit exceeds $16.7 billion, an increase of nearly 4 times

ONE's main performance data for fiscal year 2021

During the reporting period, the operating income was approximately US$30.1 billion, a year-on-year increase of 109%; the net profit after tax was US$16.75 billion, a year-on-year increase of 381%; the EBITDA was US$18.28 billion, a year-on-year increase of 276%.

Among them, in the fourth quarter of fiscal year 2021 (January 1 to March 31, 2022), ONE achieved operating income of US$8.433 billion and net profit after tax of US$5.108 billion.

ONE said that the main reason for the good performance in 2021 is that due to the booming supply and demand in the global transportation market, the freight rate in the spot market continues to rise.

ONE's 2021 fiscal year after-tax net profit exceeds $16.7 billion, an increase of nearly 4 times

Cargo volume of ONE by route

In terms of routes, ONE's Asia-North America eastbound route in fiscal year 2021 has a container volume of 2.352 million TEU, a year-on-year decrease of 412,000 TEU, and the space utilization rate is 100%. The container volume of the Asia-North America westbound route was 1.135 million TEU, a year-on-year decrease of 217,000 TEU, and the space utilization rate was 52%. The container volume of the Asia-Europe westbound route was 1.712 million TEU, a year-on-year increase of 156,000 TEU, and the space utilization rate was 100%. The container volume of the Asia-Europe eastbound route was 1.281 million TEU, a year-on-year increase of 62,000 TEU, and the space utilization rate was 73%.

Looking ahead to fiscal 2022, ONE said the impact of the outbreak on global supply chains, including ports, will persist. At the same time, uncertainties such as the conflict between Russia and Ukraine, epidemic prevention restrictions in some parts of the world, labor negotiations on the West Coast of the United States, and inflation around the world may have a significant impact on ONE's business.

In view of this, ONE said that the economic environment in 2022 will continue to change dynamically, and due to the difficulty of predicting when the epidemic will end and the subsequent impact, the performance forecast for the 2022 fiscal year has not been finalized.

ONE's 2021 fiscal year after-tax net profit exceeds $16.7 billion, an increase of nearly 4 times

Although ONE has not made a clear forecast for the 2022 fiscal year, the company's CEO Jeremy Nixon has previously said that he is very optimistic about the future market prospects. He had expected that the container shipping market will continue to be hot in 2022.

Not long ago, as part of ONE's medium-term strategy, the company planned to invest a total of $20 billion from early 2022 to 2030 to expand its fleet, achieve decarbonization goals and increase digitalization. Of this, more than half of the investment will be used to order or lease around 150,000 TEU of new capacity annually to reduce reliance on the parent company's capacity.

Source: China Aviation Weekly