Source: SPLASH247
Japan’s Ocean Network Express (ONE), the world’s sixth largest liner, has announced a medium-term business plan to grow its operated fleet to 3m teu by 2030, at an annualised growth rate of 10% a year. Including its orderbook today, the ONE fleet stands at around 2.3m teu. The $25bn fleet expansion outlay was described as “aggressive” by analysts at Asia-based consultancy Linerlytica.
“The move by ONE represents a belated attempt to regain market share, after successive years of sub-par growth,” Linerlytica stated in its latest weekly report.
Since the formation of ONE was first announced in 2016, the consolidated Japanese carrier has grown its fleet by just 30% in the last seven years compared to market growth of 40% over the same period.
Linerlytica suggested other carriers likely “to play catch-up” with orders soon include Maersk and Hapag-Lloyd. Currently there are just four companies in the world who can boast a fleet in excess of 3m teu: COSCO, CMA CGM, Maersk and MSC, the latter on track to surpass 6m teu soon.
