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.
08 Oct 2014
OOCL and Yang Ming Line have upgraded their joint China-Pakistan Express (CPX) Service with the addition of a new call at Port Kelang, Malaysia, on the eastbound leg.
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.