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.
Weekly wrap-up for July 12, 2014
12 Jul 2014
The International Longshore and Warehouse Union and the Pacific Maritime Association surprised watchers by announcing a 72-hour hiatus in their negotiations so that the union could deal with unrelated talks in the Pacific Northwest, and by extending the expired coastwide contract during the suspension of negotiations.
Ocean carrier rate revision roundup for July 11
11 Jul 2014
Multiple container lines have planned general rate increases in several trade routes to take effect Aug. 1...
05 Jul 2014
OOCL has been fined €50,000 over the death of one of its senior executives 11 years ago.
A Hapag-Lloyd container seen in Singapore.
02 Jul 2014
The ink was hardly dry on Hapag-Lloyd’s merger deal with Chilean carrier CSAV when departing chief executive Michael Behrendt raised the prospect of acquiring an Asian container line.
Question mark with Chinese flag elements within it
29 Jun 2014
Forwarders shipping goods via Shanghai are trying to decipher China Customs’ 24-Hour Advance Manifest (CCAM) regulations that either were implemented on June 3, will be implemented on June 28 or July 1, or will be strictly enforced from October 1, depending on the source.
24 Jun 2014
The worst is over for the Asia-Europe container trade as slow-steaming and scrapping of old vessels begin to address excess capacity, according to a recent report from HSBC’s transport analysts.
Ocean Carrier Rate Revision Roundup for June 13
13 Jun 2014
Multiple container lines have planned general rate increases in various trade routes to take effect in July...
Ocean Carrier Rate Revision Roundup for May 16
16 May 2014
Multiple carriers have planned general rate increases in various trade lanes in June and July, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
01 May 2014
A temporary space shortage on the trans-Atlantic is looming thanks to implementation of the G6 Alliance in that trade lane.
29 Apr 2014
Shippers look set to face rising freight rates on the Asia-Europe trade in the second quarter as improving demand allows container lines to stand firm on planned general rate increases (GRIs).