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OOCL 'benefitted greatly' from Hanjin collapse: SeaIntelOOCL 'benefitted greatly' from Hanjin collapse: SeaIntel

Orient Overseas Container Line (OOCL) was benefitted substantially from the collapse of Hanjin Shipping according to SeaIntelligence ceo Lar Jensen.

Marcus Hand, Editor

February 1, 2017

1 Min Read
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Jensen noted in a Linkedin post that in the fourth quarter of 2016 OOCL had seen a 30% growth on the transpacific trade and 28% on the Asia – Europe trade.

“Clearly this far exceeds underlying market growth, and shows that OOCL has benefitted greatly from Hanjin's collapse,” he stated.

With scale having gained critical importance this year sees OOCL taking delivery of 20,000 teu vessels.

“We still need to await operational results from the other global carriers to get the full picture of how the spoils from Hanjin has been divided, but it certainly appears that the "flight to safety" for Hanjin volume, which market has been talking about for months, has indeed been good for OOCL who is seen as one of the more financially stable carriers,” Jensen said.

The 2M alliance of Maersk Line and MSC has been one of the most obvious movers to capture volumes handled by Hanjin Shipping before it filed for bankruptcy on 31 August 2016. Maersk now operates 11 containerships that used to be part of Hanjin’s fleet.

OOCL has been the subject of merger speculation this year but its parent Orient Overseas International Ltd has denied that Cosco is preparing a bid for the container line.

Read all the background to the Hanjin Shipping bankruptcy on our timeline

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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