OOIL Sees Q2 Figures Rise


Orient Overseas International Limited (OOIL), the international transportation and logistics company in charge of Chinese ocean carrier OOCL, has seen its 2018 second quarter total volumes increase by 4.6% on the same period last year.

The company’s total revenues also increased by 4% and loadable capacity rose by 4.7%.

The first half 2018 figures were also up compared to 2017.

Volume increased by 6% and total revenues by 9.6%.

 Overall, average revenue per TEU increased by 3.5% compared with the first half of 2017.

Learn more about container shipping in China and Hong Kong by reading a Port Technology technical paper

The biggest increase in OOIL’s first half traffic came from the Trans-Pacific route, which rose by 14.9%., followed by Asia/Europe which spiked by 11%.

OOIL finished its statement with a caution note that reads:

“The Board wishes to remind investors that this operational update for the second quarter ended 30th June 2018 is based on the Group’s internal records and management accounts and has not been reviewed or audited by the auditor.”

These are the first figures released by OOIL since COSCO were given the final go-ahead to take it over by US authorities. 

COSCO permissions came with the stipulation that it had to sell the Long Beach Container Terminal in California, which OOIL currently owns.

Once the takeover is completed, COSCO will leapfrog CMA CGM as the third biggest container shipping line in the world.

Read more:

COSCO's proposed $6.3 billion OOIL takeover has been given the green light

COSCO is insisting it complies with all regualtions following NPA suspension

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