The decision by Orient Overseas International Ltd (OOIL) to order six 20,000-TEU ships was widely expected and comes just three weeks after fellow G6 Alliance member MOL ordered six mega-vessels of its own.
Kalmar's Shanghai factory delivers its 1,000th reachstacker to Wing Wah Container Depot Co., Ltd., Hong Kong
26 Mar 2015
Speculation has been rife in the Singapore media about a possible tie-up between Neptune Orient Lines (NOL) and fellow G6 Alliance member Hong Kong’s Orient Overseas International Ltd. (OOIL), but a closer look at the business of the two carriers reveals that merging their operations would create little synergy.
19 Mar 2015
The formidable challenges facing Hong Kong port were perfectly captured in the above illustration that was presented with OOCL’s 2014 financial results recently. Few, if any, ports around the world have had to cope with such a thorough change in cargo mix over a relatively short period.
18 Mar 2015
Cathay Pacific reported a 20 percent increase in net profit for 2014 as a strong second half recovery in the cargo market helped drive up earnings to $403 million.
18 Mar 2015
A bill requiring ocean going ships to switch to low sulfur fuel while at berth in Hong Kong was tabled at the Legislative Council today and, if passed, will effectively raise the cost of shipping containers through the city even as it steadily loses market share to Shenzhen.
17 Mar 2015
Three carrier alliances are launching Asia-U.S. East Coast services that will increase capacity on the route by 6 percent, according to industry analyst Alphaliner.
17 Mar 2015
The government of Hong Kong has approved the building of a third runway at Hong Kong International Airport (HKIA), announcing that it would fund the $18.2 billion expansion through internal funds, external borrowings and higher user fees.
16 Mar 2015
Cathay Pacific and sister carrier Dragonair carried almost 30 percent more cargo in February than during the same month last year as the Hong Kong-based airlines added capacity to cope with the lunar new year surge in demand.
11 Mar 2015
A proposed Hong Kong rule requiring use of low-sulfur fuel for ships while at berth — a less stringent rule that those applied in U.S. and some European waters — will take effect on July 1 if approved by the Legislative Council next week.
09 Mar 2015
Orient Overseas Container Line (OOCL), the container transport division of Hong Kong-listed OOIL, reported a 161 percent increase in its 2014 net profit, driven by a sharp 10 percent drop in bunker costs and solid increases in revenue and volumes.
17 Feb 2015
Hopes of a pre-Chinese New Year container volume surge through Hong Kong port were firmly dashed as the January data showed the transshipment hub actually saw a year-over-year decline of 6.1 percent during the first month.