Jeremy Nixon, chief executive of Ocean Network Express (ONE), remains bullish about the future of the liner sector despite the company having just reported an almost $5bn year-on-year profit drop in its second-quarter results.

Speaking to TradeWinds on the sidelines of the ONE Container Shipping Summit held in Singapore last Thursday, Nixon described the astonishingly high profits that ONE and its liner sector peers made in 2021 and 2022 as an exceptional phenomenon caused by a specific set of events, and not one that was expected to go indefinitely.