OOCL

OOCL, or Orient Overseas Container Line, is the world’s 13th-largest container shipping company, with approximately 240 vessels with a combined capacity of 800,000 TEUs. Founded in 1969, the ocean carrier is present in more than 65 countries.

Hong Kong-based OOCL is a wholly-owned subsidiary of Orient Overseas (International) Limited, a public company listed on the Hong Kong Stock Exchange. OOCL posted revenue of US$6.2 billion in 2013 — down 3.5 percent on a year-on-year basis. The company recorded a net profit of $47 million, down 84 percent from the previous year’s net income of $296 million.

OOCL was the 10th-ranked container carrier in U.S. containerized import trade in 2013, with volume of 745,881 TEUs, down 1.7 percent year-over-year, giving it market share of 4.1 percent. It was No. 8 in U.S. containerized export trade in 2013, with volume of 538,287 TEUs, down 3.9 percent year-over-year and market share of 4.2 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.

17 Jul 2017
A 13,200 TEU vessel that is the largest ever to enter the Port of New York and the US East Coast passed under the newly-elevated Bayonne Bridge Monday afternoon.
10 Jul 2017
“There aren’t many other takeover candidates left on the shelf.”
10 Jul 2017
A combined Cosco-OOCL carrier will further reduce the options for shippers that have been cut drastically by a wave of consolidation in the past year.
09 Jul 2017
The deal maintains the Hong Kong carrier’s brand and marks a new chapter in the ongoing industry consolidation
21 Jun 2017
Rumors surrounding a Cosco-OOCL tie-up refuse to go away.
23 May 2017
According to analysts, low freight demand, overcapacity, and the consequent tightening of profit margins has placed shipbuilding on a sort of hiatus, but it won't last.
28 Apr 2017
It has been a good first quarter for OOCL with solid increases in revenue and volumes on the east-west trades. Business appears to be looking up for Hong Kong's OOCL.
13 Mar 2017
“In the Ocean Alliance, customers look at the four players and are generally aware of their financial sustainability. We don’t have an emergency fund, largely because we don’t think we need to have one.”
13 Mar 2017
Average revenue per TEU carried by OOCL in 2016 was even worse than during the global financial crisis, leading to an annual loss of $273 million.
03 Feb 2017
The fines were smaller than expected.
27 Jan 2017
OOCL has found out that one strong quarter doesn't make a good year, with average revenue per TEU tumbling in 2016, despite a strong improvment in the market during the fourth quarter.
17 Jan 2017
Investors continue to trade heavily in OOCL shares amid speculation that the Hong Kong-based carrier is for sale.