Ocean Network Express has more than ONE problem — Panjiva
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Supply Chain Research

Ocean Network Express has more than ONE problem

Corp - Shipping 973 Earnings 724 Global 1389 Mode - Containerized 1465 Mode - Seaborne 1798

Container-line Ocean Network Express – owned by Mitsui OSK, NYK Line and K-Line – has reported a 3.7% year over year decline in fiscal Q3 (calendar Q4) revenues as a result of a slump in utilization on Asia-to-North America routes as well as a decline in shipping rates. While North America-to-Asia volumes may improve in the coming year as a result of the phase 1 U.S.-China trade deal, the spread of 2019-nCoV coronavirus may act as a drag to eastbound shipping during calendar Q1. The firm has already stated it faces “relatively weak cargo movement after Lunar New Year, and accordingly we ...

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