ONE INITIATIVES Q3 FY2023

Singapore, 31 January 2024 - Ocean Network Express (ONE) is pleased to release the latest “ONE INITIATIVES” at the end of FY2023 Q3.

The global economy starts to look encouraging with consumer spending recovering in North America and Europe, which has led to some positive inventory restocking developments over the last quarter. However, the most dominant factor now impacting liner markets is the recent hostilities in the Middle East and prolonged drought situation at the Panama Canal.

Despite the unpredictability of the global supply chain, ONE is continuously working to strengthen its service coverage and networks. As of the end of December 2023, all six state of the art 24,000 TEU vessels have been delivered and put into service on the Asia Europe service. At the same time, ONE also orders new 13,000 TEU vessels equipped with methanol dual fuel engines to be delivered in 2027, playing its part to reduce greenhouse gas emissions and working towards its target of achieving Net Zero GHG emissions by 2050.

The ONE INITIATIVES FY2023 Q3 can be downloaded here.