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.

07 Aug 2017
OOCL in first half profit turnaround as volumes and higher rates push up revenue.
16 Dec 2015
Five Asia-based container lines will expand a service in mid-February that connects to Australia, while another China-based line will also beef up its service to and from Oceania.
23 Oct 2015
Plunging rates and excess capacity caused Orient Overseas Container Line’s third-quarter revenue to fall 12.2 percent despite an uptick in volume.
04 Sep 2015
Orient Overseas Container Line, or OOCL, has joined the ranks of carriers this month announcing general rate increases for goods moving from Asia to Europe, despite the persistently weak market on those lanes that has undercut monthly GRIs for most of 2015.