Orient Overseas Container Line (OOCL) was benefitted substantially from the collapse of Hanjin Shipping according to SeaIntelligence ceo Lar Jensen.
Orient Overseas International Ltd (OOIL), parent of Orient Overseas Container Line (OOCL) would make the perfect bride for another M&A deal in boxshipping according to Drewry but a hefty premium could put off buyers.
The Ocean Alliance is quickly moving ahead with its plan to start operations from 1 April 2017, announcing the signing of an agreement, called the Day One Product, among the partners on its network, including port rotation for each service loop.
Hong Kong-based line Orient Overseas Container Line (OOCL) reported a 5.2% rise in third quarter volumes to 1.52m teu from 1.45m teu in the previous corresponding quarter, however, expectedly revenues plunged 13.8% to $1.15bn from $1.33bn previously.
The bankruptcy of Hanjin Shipping has been described as “unknown territory” for the container sector, but in the long run it could be positive for the industry.
Hong Kong-based Orient Overseas (International) Ltd, the parent of Orient Overseas Container Lines (OOCL) turned to a $56.7m loss in the first half on a 16% plunge in revenue to $2.56bn from $3.04bn previously as a weak market drove down revenue per teu.
Hong Kong-based line Orient Overseas Container Line (OOCL) reported a 6.6% rise in total volumes for the second quarter of 2016, up from 1.42m teu to 1.52m teu. Total revenues however decreased by 16.6% from $1.36bn to $1.14bn.