- Ocean Network Express (ONE) unveils its ONE 2030 strategy, aiming to become the fifth-largest carrier globally by expanding its fleet and market share.
- With a planned investment of US$25 billion, ONE aims to increase its fleet capacity by 1.2 million TEUs, focusing on sustainable solutions, customer service enhancements, and potential ventures into logistics.
- However, industry analysts remain cautious about the challenges and uncertainties in achieving such ambitious growth targets.
Singapore-based Ocean Network Express (ONE) unveils its ONE 2030 strategy, aiming to surpass Hapag-Lloyd and become the fifth-largest carrier globally. With a planned fleet growth of around 10% annually, ONE intends to invest US$25 billion to increase its capacity by 1.2 million TEUs, reaching a total fleet size of 3 million TEUs by the end of the decade.
Driving Factors
ONE’s strategy is driven by the need for economies of scale to finance decarbonization efforts and gain a competitive edge in the market. Analysts suggest that aggressive fleet expansion is aimed at capturing market share, leveraging projected moderate market growth and overcapacity expectations.
Challenges and Considerations
While ONE’s growth targets are ambitious, industry experts highlight challenges such as market volatility, geopolitical factors like the Red Sea crisis, and uncertainties surrounding profit projections. Additionally, questions arise about the feasibility of sustaining profitability amidst intense competition and evolving market dynamics.
Diversification and Expansion
In addition to fleet expansion, ONE plans to enhance its service offerings and explore opportunities in adjacent businesses within the logistics value chain. By strengthening customer service support and investing in digitalized services, ONE aims to address evolving customer demands and capitalize on emerging cargo flows in key regions worldwide.
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Source: Container News
