Tuesday, October 19, 2021

OOCL posts record first-half result

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Parent company to OOCL announces net profit of $2.8bn.

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Orient Overseas International (OOIL), parent company to boxship line OOCL, has posted the best interim result in the group’s 52-year history.

The Cosco-subsidiary’s turnover more than doubled, compared with the same period last year, to just under $7bn, while revenue from OOCL’s liner services rose an impressive 108%, to $6.5bn.

“Demand in key importing economies has been considerably stronger than forecast, especially on transpacific routes,” said OOIL. 

“We have worked hard to inject additional capacity into key routes on our network in order to provide further space for our customers, and we continue to do so.”

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