The decline in the value of shipping freight nils on the routes connecting Asia with North America and with Europe had a further negative impact on the financial results of the first quarter of Ocean's fiscal year 2023 Network Express (ONE), which ended on June 30, and which the company has filed with revenues of 3.77 billion, with a significant decline of -58% percent over the April-June period last year. More accentuated the decline in gross operating margin and operating profit values that amounted to 770 million (-87%) and 386 million, respectively (-93%). Net profit was 513 million (-91%).

In the April-June period of this year, the ships of the company's fleet transported an overall volume of cargo in containers equal to 2.82 million teu (-4%). ONE said that if in the period volumes transported on Asia-North America routes fell by -18%, those transported in the April-May bimonthly on the Asia-Europe routes showed an increase of 9.1% percent due to an increase in the shipments to the ports of the Mediterranean, in particular of direct construction materials in Turkey, while shipments to North Europe have been found to be stable.

ONE said that compared with the average noli value of the first quarter of fiscal year 2018, in the first quarter of the current fiscal year, the average value of containerized shipping fares related to the Asia-North routes America reported a decrease of -64% percent, while the average value of tariffs related to Asia-Europe services marked a -74% percent reduction.

If after six consecutive quarters of declines, in the first quarter of fiscal year 2023 the volume of bunker consumed by ships of the company's fleet grew by 3% percent by attesting to 799mila tonnes, while after nine quarters consecutive increases, on the other hand, the purchase price of the fuel reduced by being equal in average to 590 dollari/tonne (-21%).

Pointing out that following the Covid-19 pandemic the containerized maritime transport market has undergone significant changes, which have added to the effects of international tensions, ONE has specified that it is extremely important. difficulty formulating predictions about the trend of activity in the coming months.

At the end of last month the company's fleet, which is headquartered in Singapore and is participated by Japanese shipping companies "K" Line, MOL and NYK, was comprised of 216 ships for a containerized cargo capacity of 1.63 million teu. The ONE orderbook includes an additional 42 container carriers including those chartered in the long term.