Container-line Ocean Network Express has warned that its revenues for the current fiscal year (through March 31 2019) will be 11% lower than it previously expected and it now expects to make a significant loss rather than a profit. ONE’s problems are not new and stem from “teething problems” with IT experienced at its launch in April. That’s led to it underperforming its peers with an 8% drop in China-to-U.S. volumes in the fiscal first half year (through September 30) vs. a year earlier compared to a 3% increase for all container-lines. The company insists improvements are underway thou...
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