ONE reveals intention to become a member of the 3 million TEU club

Ocean Network Express (ONE), the sixth largest liner in the world, has outlined a medium-term plan to expand its operating fleet to 3 million TEU by 2030, with an annual growth rate of 10%. The current ONE fleet stands at around 2.3 million TEU when including existing orders. Analysts have described this $25 billion expansion effort as aggressive, suggesting a move to regain market share after years of slower growth compared to the industry average.

The formation of ONE in 2016 has seen its fleet grow by only 30% over the past seven years, a figure lower than the market growth of 40% during the same period. Linerlytica notes that Maersk and Hapag-Lloyd are also expected to catch up with orders soon, joining the select group of companies with fleets exceeding 3 million TEU, which currently includes COSCO, CMA CGM, Maersk, and MSC. The latter is on course to surpass 6 million TEU.

The industry experts at Linerlytica believe that ONE’s new expansion plan indicates a strategic response to competitive pressures in the shipping market. As more companies push to expand their fleets and capture market share, the race to achieve greater economies of scale and operational efficiencies intensifies. By setting a target of 3 million TEU by 2030, ONE aims to position itself as a major player in the global shipping industry, alongside other leading carriers.

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