On July 31, 2024, Ocean Network Express (ONE), headquartered in Singapore, announced that it has increased its net profit after tax forecast for the fiscal year ending March 2025 by 2.8 times from the previous forecast to $2.745 billion (approximately ¥430 billion, based on an exchange rate of ¥155 to the dollar). The steady movement of goods to the United States and the increased demand for shipping capacity due to the shift to the Cape of Good Hope route caused by the situation in the Red Sea are cited as reasons. Additionally, short-term freight rates have risen due to the limited supply of container ships resulting from port congestion, leading to favorable business performance.
Photo courtesy =Ocean Network Express
Shipping industry insiders had predicted a decline in the container shipping market for the current fiscal year. The main reason for this was the anticipated large supply of newly built container ships. However, continued terrorist attacks by the Houthis in the Red Sea have forced the majority of major vessels, including container ships, car carriers, and LNG carriers, to take the longer and more circuitous route around the Cape of Good Hope in South Africa. As a result, there continues to be a shortage of container ships in the shipping market.
In light of this situation, ONE initially planned to reroute around the Suez Canal only until October but has now extended this plan to January 2025. Similarly, the three major shipping companies have also extended the blockade of the Suez Canal to January of next year.
With ONE’s strong performance, the ordinary profits attributable to equity method investments of the three major shipping companies have also increased. The shareholding ratios in ONE are as follows: Nippon Yusen Kabushiki Kaisha (NYK Line) at 38%, Mitsui O.S.K. Lines (MOL) at 31%, and Kawasaki Kisen Kaisha (“K” Line) at 31%.
According to Mitsui O.S.K. Lines’ financial results announced on July 31, 2024, the forecast for ordinary profit from the container shipping business for the full year has been revised upward to ¥139 billion (approximately $900 million). The main reason for this increase is the rise in equity method profits from ONE.
〆ＯＮＥ(Ocean Network Express)は２０２５年３月期の税引き後純利益予想（Net profit after tax forecast）
を27億４５００万㌦（約４３００億円）に引き上げた。
オーシャンネットワークエクスプレス（ＯＮＥ、本社シンガポール）は２０２４年７月３１日、２０２５年３月期の税引き後純利益予想を従来予想から２・８倍の27億４５００万㌦（約４３００億円、１ドル＝１５５円換算）に引き上げると発表した。米国向け荷動きが堅調に推移する中、紅海情勢による喜望峰ルートへの変更で船腹需要が高まっていることが理由である。また、港湾混雑などでコンテナ船の供給が絞られた結果、短期運賃が上昇し、好業績につながった。
海運関係者は今期のコンテナ船市況は下落すると予想していた。最大の理由はコンテナ船の新造船が大量に供給されるからである。しかし、実際には紅海でのフーシ派によるテロ攻撃が続いた結果、コンテナ船、自動車船、LNG船など主力船の大半が南アフリカの喜望峰経由の遠距離、迂回航路を余儀なくされた。結果的に海運市場でコンテナ船が不足している状況が続いている。
ONEもこうした状況を検討し、当初、スエズ運河の迂回を１０月までと想定していたが、今回、２０２５年１月に延長した。海運大手３社も同様にスエズ運河の封鎖を来年１月に延長した。
ONEの好業績に伴い、海運大手３社の持ち分法利益に伴う経常利益も増加している。ONEへの出資比率は、日本郵船株式会社（NYK LINE）38％、株式会社商船三井（MOL）31％、川崎汽船株式会社（“K”LINE）31％である。
２０２４年７月３１日に発表された商船三井の決算短信によると、通期での商船三井のコンテナ船事業の経常利益予想を１３９０億円（約９億ドル）と上方修正した。ONEからの持ち分法利益が増加することが最大の理由である。