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ONE Posts Q3 Loss as Container Market Weakens

[ February 11, 2026   //   ]

Ocean Network Express (ONE) reported a net loss of US$88 million for the third quarter of fiscal year 2025, reflecting weaker freight rates, vessel oversupply and softer demand on key trade lanes.

The Singapore-based container carrier said revenue for the October-December 2025 period totaled US$4.074 billion, as declining short-term rates and reduced volumes weighed on results. The loss marked a reversal from profitability in earlier periods.

ONE said market conditions deteriorated during the quarter as continued fleet expansion across the industry created a supply-demand imbalance. Cargo volumes slowed on major routes, particularly the Asia-North America trade, following heavy front-loading earlier in the year.

Higher operating and container repositioning costs, combined with lower utilization on Asia-Europe and transpacific services, also contributed to the weaker performance.

ONE CEO Jeremy Nixon said the company is leveraging strategic partnerships to strengthen service reliability and improve operational resilience.

ONE said the overall market environment remains less robust than previously projected, citing persistent vessel oversupply and continued pressure on freight rates.

ONE operates a fleet of more than 260 vessels with capacity exceeding 2 million TEUs and provides container shipping services to customers in more than 120 countries.

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