ONE Q2 net profit up 31% at $5.5bn

One Network Express (ONE) reported a 31 percent increase in net profit at $5.5 billion for Q2FY2022 and 24 percent increase in revenue to $9.4 billion on higher average freight rates and lower (9 percent) liftings at 2.9 million TEUs. "The lifting on Asia-North America E/B remain unchanged from Q1 FY2022 but decreased in comparison to the same period of last year. Vessel utilisation decreased due to higher service frequencies following a reduction in port congestion on the U.S. West Coast. Both lifting and vessel utilisation on Asia-Europe W/B remain unchanged from Q1 FY2022 but decreased in comparison to the same period of the previous year."