OOIL reports record revenue but has “legitimate concerns about the impact of inflation and interest rate rises on consumer spending.”
As America struggles with a growing supply chain crisis, ocean carriers rake in even more profits.
Hong Kong-based container carrier moves 1.94 million TEUs during the third quarter of 2020.
Orient Overseas Container Line briefly outlines performance for the second quarter and first six months of 2020.
Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.
Overseas Orient Container Line (OOCL) has sold its Long Beach Container Terminal for US$1.78 billion (HK$13.973 billion) in cash, it was announced today by OOCL’s owner, Overseas Orient International Ltd (OOIL; HKEX:0316). OOIL says that it expects to realize a gain of just under US$1.3 billion from the deal.
OOIL fleet boosts Cosco’s volumes and revenue, but rates were stagnant and high finance costs push profit lower.
