Synergy, cost efficiencies and fleet and network optimisation were the key themes that emerged from the first results presentation after Cosco Shipping Holding’s takeover of Orient Overseas Container Line and would mark the path forward even as tough conditions led to a $10.3m loss for the first half of 2018.
Orient Overseas Container Lines (OOCL) saw second quarter total volumes rise 4.6% to 1.69m teu from 1.62m teu in the same period in 2017 and the volume gains were also able to be translated into good gains with total revenues increasing by 4.0% to $1.46bn although average revenue per teu fell by 0.6%.
Global shipment management software solutions provider CargoSmart, working with Oracle, has launched an initiative to develop a blockchain solution for shipment documentation to improve complex supply chain processes that it claims can cut down document processing time by 65%.
COSCO Shipping Holdings has held true to its pledge to keep Orient Overseas (International) Ltd, the parent of Orient Overseas Container Line (OOCL), as a listed company in Hong Kong.
Always at the vanguard of new technology adoption in shipping, Hong Kong-based boxshipping line Orient Overseas Container Line (OOCL) is fully committed to making a step change in the way the container shipping business is run as it works with Microsoft Research Asia (MSRA), Microsoft’s world-class research arm, on an 18-month joint-partnership to apply Artificial Intelligence (AI) research to improve network operations and achieve efficiencies.
With just two weeks to go for the deadline for Cosco to acquire Orient Overseas International Ltd (OOIL) regulatory hurdles still need to be cleared.
Hong Kong-based line Orient Overseas Container Line (OOCL) has really benefitted from its new high capacity vessels, taking full advantage after the delivery of its last megaship in January to see a 21% rise in Asia-Europe liftings in the first quarter to 302,679 teu.
Hong Kong-based line Orient Overseas Container Line (OOCL) is the latest to dive into the world of Artificial Intelligence (AI), announcing a partnership with Microsoft research arm Microsoft Research Asia (MSRA) to apply AI research to improve network operations and achieve efficiencies within the shipping industry. The collaboration is expected to nurture over 200 AI developers over the next 12 months.