Hong Kong line Orient Overseas Container Lines (OOCL) has done a sale and leaseback arrangement for one of its vessels for $53.6m, pocketing an $800,000 gain in the process, the company said in a stock market announcement.

Hong Kong-based container line Orient Overseas Container Line (OOCL) could not escape the general slowdown in the boxship sector and saw second quarter total volumes falling 2.1% to 1.42m teu compared to the previous corresponding period.

Hong Kong shipping company Orient Overseas Container Line (OOCL) has maintained its commitment to high environmental standards by achieving dual reporting standards through the use of Clean Cargo Working Group (CCWG) and ISO 14064-1:2006 verification tools.

The rapid rise of the mega-containership of 18,000 teu and above has radically altered the landscape of mainline container shipping.

Orient Overseas Container Line (OOCL) will introduce a new China East Coast Express 2 (CEC2) service to supplement its existing network.

Hong Kong's Orient Overseas Container Line (OOCL) saw first quarter revenue fall 3.2% to $1.34bn from $1.39bn previously as total volumes also slipped 2.5% to 1.32m teu from 1.35m teu in the same period last year.

The excess tonnage capacity in the container shipping market is a “permanent problem”, as carriers have the tendency to keep growing their market share by investing in new and bigger ships, according to Tung Chee Chen, chairman of Orient Overseas (International) Ltd (OOIL).

Orient Overseas Container Line (OOCL) is joining the mega-boxship club ordering six 21,100 teu vessels at Samsung Heavy Industries (SHI), the largest so far contracted.

Hong Kong line Orient Overseas Container Line launched the sixth of its series of eight 8,888 teu vessels at a christening ceremony in Hudong-Zhonghua Shipbuilding's yard in Shanghai yesterday.

Neptune Orient Lines (NOL) would be "interesting" as a merger target because of a cultural element as a Singapore company that would make it equally attractive to Western companies as well as Chinese ones, commented AlixPartners md Lim Lian Hoon on the sidelines of a briefing for the group's annual Container Shipping Outlook.

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