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.

Weekly wrap-up: Port delays, Teamsters and TPM Asia
18 Oct 2014
Coverage on congestion at the Los Angeles-Long Beach port complex continued to interest JOC.com readers this past week, as what could be the worst gridlock to hit the largest port complex in the Americas continues.
20 Aug 2014
Overall capacity operated by the Top 21 container carriers increased 5.6 percent or 847,000 TEUs in the last 12 months, according to industry analyst Alphaliner’s latest newsletter, furthering chronic overcapacity in the container shipping market.
18 Aug 2014
Multiple container lines have planned general rate increases in numerous trade lanes in August, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
11 Aug 2014
One shipping line is based in Singapore and the other in Hong Kong, but the interim results of APL and OOCL have revealed the importance of managing costs in the current weak freight rate environment.
Acting OOIL CFO Alan Tung
11 Aug 2014
Hong Kong-listed Orient Overseas (International) Ltd. reported a first-half net profit of $181 million as revenue and volume at its liner shipping division OOCL increased even though revenue per 20-foot container fell more than 5 percent.
01 Aug 2014
The G6 Alliance is performing abysmally compared with its competitors when it comes to schedule reliability, according to a new SeaIntel report.
ECT Delta East terminal
01 Aug 2014
Hapag-Lloyd announced it is temporarily diverting vessels deployed on one of its Europe-Asia services from Rotterdam to Antwerp as congestion worsens at Europe’s biggest container port as the peak shipping season gathers speed.
31 Jul 2014
Interim result season is in full swing, and the financial reports reveal carriers in the container-shipping industry searching for a silver lining.
Plane in blue sky
29 Jul 2014
Positive developments in China’s export space are raising expectations that the recent strong performance of air and ocean cargo volumes will extend into a solid peak season.
OOCL Qingdao
25 Jul 2014
Evidence of volume growth in east-west container shipping markets was revealed in Orient Overseas Container Line’s most recent results.
Ocean carrier rate revision roundup for July 18
18 Jul 2014
Multiple carriers have announced general rate increases on several trade routes to take effect in August.
16 Jul 2014
Hong Kong-listed shipping line OOCL and Dubai-based Etihad Airways have not yet been officially informed of a Bangladesh high court ruling that accuses them of evading taxes and money laundering...