Orient Overseas (International) Ltd is banking on a more positive outlook for container shipping to steer it out of choppy waters after its profits plunged 84 per cent to US$47 million last year.Tuesday, 11 March, 2014, 12:55am 1 comment
Container shipping firms are hoping for a better year as freight rates rebound in the lead-up to the Lunar New Year holiday and the nagging problem of overcapacity eases during the year.8 Jan 2014 - 2:18am
Anaemic growth in the US and little improvement in Europe's economic conditions will make 2013 as "challenging" as last year for Orient Overseas Container Line (OOCL), the financial head of the shipping line's parent company said yesterday.7 Mar 2013 - 6:12am
A massive containership that was meant to be the pride of Orient Overseas Container Line is languishing in a South Korean shipyard facing expensive repairs.
The OOCL Brussels is one of 10 ships, and the first in OOCL logos, ordered by parent Orient Overseas (International) for US$1.36 billion in 2011.20 Feb 2013 - 3:24am
In the second of a two-part series, the Post examines how infrastructure, energy, shipping and gaming fared in 2012 and what lies ahead in 2013.1 Jan 2013 - 5:37am
Cosco Shipping (Coscol) is seeking to expand a pool of specialist semi-submersible vessels by adding ships from mainland Chinese or foreign shipping companies, a senior executive said.20 Dec 2012 - 3:19am
China Merchants Group, which celebrated its 140th anniversary yesterday, said it would continue to invest in Hong Kong's logistics sector in light of growing domestic consumption on the mainland.19 Dec 2012 - 3:51am
Shenzhen is set to overtake Hong Kong as the world's third-busiest container port this year for the first time ever on an annual basis.
This comes as total box volumes through Shenzhen's four main facilities have continued to climb despite the downturn in global trade.
By comparison, volumes through Hong Kong have dropped, especially from river trade and barge business.26 Nov 2012 - 2:28am
The torrent of red ink flowing from China Cosco Holdings' balance sheet may have eased in the third quarter with the help of government subsidies. But the problems facing the firm's core dry cargo and container line businesses look far from over, as a slump in demand, too much tonnage in the global merchant fleet, and high-priced charters continue to weigh on the company.24 Nov 2012 - 3:59am
Hong Kong and other Asian ports are falling behind European port operators in terms of productivity, a senior shipping executive has warned.
Nicolas Sartini, group senior vice-president of Asia-Europe lines at French container line CMA CGM, said some European ports were 50 per cent more efficient at loading and unloading containers than those in Asia.15 Nov 2012 - 5:02am
The number of port operators at Kwai Chung container terminal should be reduced if Hong Kong port is to maintain its operating efficiencies after the introduction of ultra-large container ships, a senior Hutchison executive said yesterday.9 Nov 2012 - 3:59am
Wrangles between exporters and shipping lines over soaring freight rates "is a war that has not ended", a senior executive representing cargo owners says.
Sunny Ho Lap-kee, executive director of the Hong Kong Shippers' Council, made the comment yesterday after cargo owners experienced triple rises in freight rates on some routes.7 Nov 2012 - 3:36am
Three of China's largest shipping companies posted mixed third-quarter results yesterday with China Cosco Holdings remaining in the red, while two subsidiaries of rival China Shipping staunched the red ink of earlier quarters to report net profits.31 Oct 2012 - 4:12am
Europe's largest container lines are making an attempt to increase Asia-Europe rates to more than break-even levels and restore profit before the end of the year. Capacity cuts may boost their chance of success.26 Oct 2012 - 3:36am
Orient Overseas (International) (OOIL) could be heading for a total turnover of around US$6.4 billion this year after the parent of Orient Overseas Container Line (OOCL) reported revenues of US$4.47 billion in the first nine months of the year from its box shipping business.23 Oct 2012 - 4:19am