A "slow and steady recovery from the tough market conditions that characterised 2016" helped bring Orient Overseas (International), the parent group of Hong Kong-based Orient Overseas Container Line (OOCL) back to a $53.6m profit from a $56.7m net loss in the previous corresponding period.
One of the world’s largest shipowners Nippon Yusen Kaisha (NYK) returned to the black in the first quarter ended 30 June 2017 and has maintained its full year profit forecast.
The world’s third largest container line CMA CGM reported a first quarter profit of $86m and brought acquisition APL back into the black.
As is the case with maritime weeks the world over, some prominent personalities get roped in to lead many different events. Hong Kong shipping veteran, ex-Wah Kwong Maritime Transport Holdings ceo and current chairman of Mandarin Shipping, Tim Huxley is one such person, having chaired many of the forums at the two-day Asian Logistics and Maritime Conference as well as being on the panel at the Asia Maritime breakfast briefing on feeder shipping.
The weakening tanker market saw Frontline’s net profit fall to $14.3m in the second quarter of the year compared to $78.9m in the first three months.
First Ship Lease Trust (FSL Trust) remained in the black in Q1 despite losses on the sale of two panamax boxships, and is upbeat on the outlook ahead.