Strong demand credited for ONE's profits remaining stable in Q1 FY2026

Ocean Network Express (ONE) has posted its financial results for the first quarter of FY2026, covering the period from April 1 to June 30, 2026.

Summary

For the first quarter, ONE generated revenue of US$4.539 billion (US$4.042 billion in Q1 FY2025) and recorded a net profit of US$31 million (US$55 million in Q1 FY2025). Gross operating profit reached US$707 million (US$719 million in Q1 FY2025) while operating income totalled US$76 million (US$74 million in Q1 FY2025) during the period.

Strong cargo demand drove freight rates up late in the quarter. Meanwhile, Middle East developments raised fuel prices and operating costs. ONE said that, despite these challenges, it maintained high vessel utilisation through disciplined execution and capacity management.