OOCL

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.

10 Aug 2015
OOCL, the core liner business of Orient Overseas (International) Ltd, became the latest container carrier to report a first half net profit based largely on significant cost savings across its global network.
30 Jul 2015
Long Beach Container Terminal, which will open a terminal early next year the Port of Long Beach has billed as the world’s greenest container terminal, received the Mayor’s Green Port award Wednesday at ceremonies marking the 10th anniversary of the Long Beach Green Port program.
24 Jul 2015
OOCL’s revenue on the Asia-Europe route crashed by 28 percent in the second quarter, more than double the near 12 percent slide in traffic, in the latest indication of the depth of the bear market on the world’s biggest container trade.
06 Apr 2015
Rumors of a merger of APL and Orient Overseas Container Line were “probably not more than hot air,” and even if true would not affect container shipping overcapacity, Drewry Maritime Research says.
01 Apr 2015
Orient Overseas International Ltd.'s announcement that it will spend almost $1 billion on the purchase of six 20,000-TEU ships has put an end to speculation that the Hong Kong-listed line was interested in acquiring troubled APL from Neptune Orient Lines.
27 Mar 2015
OOCL and Yang Ming Line have expanded their joint China-Pakistan Express (CPX) Service by adding a direct call at Adani Hazira Container Terminal, a private facility in West India, starting in mid-April.
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.
16 Mar 2015
The average ship turnaround time at the Los Angeles-Long Beach port complex in the fourth quarter was twice that experienced by carriers in August, with the congestion during the three month period costing carriers an estimated $150 million, or $1.5 million per weekly service, according to analysis by Drewry.
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.
30 Jan 2015
OOCL plans to upgrade its intra-Asia service network by joining the Singapore-Chennai 2 (SC2) service operated by Wan Hai Lines and Bengal Tiger Line, starting in early February.
19 Jan 2015
Low bunker fuel prices are helping container shipping line balance sheets, but another impact will be improved schedule reliability as carriers can afford to speed up vessels to make up time lost to rising congestion at many ports around the world.
13 Jan 2015
China’s exports in 2014 recorded the second slowest growth since the country joined the World Trade Organisation in 2001, rising just 6.1percent as overall trade growth for the year slumped to 3.4 percent.