Japanese-owned but Singapore-based Ocean Network Express (ONE) reported a second-quarter profit of US$285 million on revenue of $4.455 billion, driven by front-loading ahead of US tariff deadlines, but forecasts a loss in the second half, reports Ventura, California's gCaptain.

The carrier faced freight rate volatility and vessel oversupply, but strong cargo demand-especially on Asia-North America eastbound routes that boosted transpacific volumes to record highs in July.

Despite increased liftings, utilization rates fell due to continued vessel deliveries, leading to a sharp drop in spot rates on major east-west trades. ONE's fiscal year runs from April to March.

Chief executive Jeremy Nixon said the results reflect ONE's resilience amid geopolitical uncertainty. The company posted a US$371 million profit for the first half but now expects a full-year profit of US$310 million, implying a US$61 million loss in the second half.

Geopolitical risks in the Red Sea and Gulf of Aden have forced vessels to reroute via the Cape of Good Hope, absorbing some excess capacity. ONE expects this rerouting to continue through the fiscal year.

The carrier is implementing flexible measures to address port congestion and supply chain disruptions. Nixon said ONE will continue to adapt its network and optimize fleet deployment to maintain reliability.

ONE is reviewing its cargo portfolio and vessel deployment to improve yield management and profitability, while monitoring US tariff developments and USTR policy changes.