Merged Japanese container carrier Ocean Network Express (ONE) has posted a $105m net profit for full-year 2019 after post-merger synergies improved its bottom line.
It represented a massive reversal of fortunes for a carrier which posted a $586m loss in 2018, coming about with a 9.1% increase in revenue to $11.9bn, as well as further cost cuts.
Increased cost efficiency was one of the main reasons behind linking the three container lines, …

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Source: The Loadstar