ONE Posts $88M Loss - Newbuild Deliveries Pressure Rates; Fleet Continues to Grow
Ocean Network Express (ONE) reported a net loss of $88 million for the third quarter of FY2025, as persistent fleet growth and slower cargo movement weighed on short-term freight rates, particularly in the Asia–North America tradeThe result marked a sharp year-on-year deterioration from the same period in FY2024, reflecting a softer supply-demand balance driven by continued newbuilding deliveries across the global container fleet.For the quarter ended December 31, 2025, ONE generated revenue of $4.07 billion…
Obituary: Iconic Maritime, Shipbuilding Leader Fred Harris Passes
Frederick Joseph Harris of Mystic CT, passed peacefully at 5:47PM on 10/24/2025, with his family by his side. “Fred” was born on 11/25/1944 at Framingham Union Hospital to Frederick Everett and MaryRosa Camilla Harris.Fred was a proud patriot who loved his country. Fred received his bachelor’s degree in Marine Engineering from Maine Maritime Academy (with Honors) in 1967. Upon graduation, Fred was commissioned in the U.S. Naval Reserve with the obligation of sailing in the U.S. Merchant Marine. In the Merchant Marine, Fred sailed on various U.S.
