ONE reported a 58% QoQ drop in net profits in the 2nd quarter of 2023, with its higher exposure on the Transpacific routes dragging down its overall profitability by a larger margin compared to CMA CGM. EBIT margins dropped to 10%, its lowest level since 2020 but net profits were boosted by net interest income due to positive cash balances (ONE does not provide balance sheet details and interest income breakdown). ONE did not provide earnings guidance for FY2023, citing low visibility. However