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 Dec 2014
Another set of historic rate increases are on tap for the trans-Pacific, as the 15 members of the Transpacific Stabilization Agreement announced hikes totaling $1,000 per FEU.
07 Oct 2014
Carriers serving the trans-Pacific westbound trade from the U.S. to Asia will attempt to raise rates as of Nov. 1, arguing that rates currently “fall well below breakeven levels.”
Ocean carrier rate revision roundup for Oct. 3
03 Oct 2014
Multiple container lines have planned general rate increases in numerous trade lanes in October and November, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.
25 Sep 2014
Surcharge-weary container line customers are preparing for a new and largely unspecified bunker levy from January as carriers start tallying the costs of a mandatory switch to low sulphur fuel in Europe and North America.
23 Sep 2014
CMA CGM, China Shipping Container Lines, OOCL and PIL plan to launch a new joint service connecting Northeast Asia, Australia and New Zealand in early November.
29 Aug 2014
At least two ocean carriers are cutting intermodal fuel surcharges for dry and refrigerated shipments to and from the United States, effective Oct. 1, as a result of falling diesel prices.
25 Aug 2014
The market for container terminals in the U.S. is being helped by cheap prices, low risk, and the advent of automation, according to the latest newsletter from industry analyst Drewry Maritime Research.
22 Aug 2014
APL and OOCL have imposed surcharges on import containers bound for India’s northern hinterland region.
22 Aug 2014
CMA CGM, China Shipping Container Lines, Orient Overseas Container Lines and Pacific International Lines have plans to launch a joint service connecting Northeast Asia, Australia and New Zealand.
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.