https://www.scmp.com/rss/517877/feed Founded by the family of former Hong Kong chief executive Tung Chee-hwa, Orient Overseas International (OOIL) is the parent company of Orient Overseas Container Line (OOCL), one of the world's largest container-shipping companies, operating six of the 10 largest container ships in the world. OOIL, which was taken over by mainland Chinese state-owned Cosco Group in 2018, also operates a container terminal in Kaohsiung, Taiwan. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cao Li Cao Li Hong Kong stocks extended losses on Friday as the US-Iran war showed no signs of ending, with a hardline stance from both sides pushing oil prices up. The Hang Seng Index closed 1 per cent lower at 25,465.60, taking its loss to 4 per cent since the war started on February 28. The Hang Seng Tech Index also fell 1 per cent. On the mainland, the CSI 300 Index lost 0.4 per cent and the Shanghai Composite Index shed 0.8 per cent. US President Donald Trump said in a social media post on Thursday that... https://www.scmp.com/business/markets/article/3346430/hong-kong-stocks-extend-losses-us-and-iran-dig-heels-amid-escalating-conflict?utm_source=rss_feed https://www.scmp.com/business/markets/article/3346430/hong-kong-stocks-extend-losses-us-and-iran-dig-heels-amid-escalating-conflict?utm_source=rss_feed Fri, 13 Mar 2026 02:22:18 +0000 Cao Li Cao Li Hong Kong stocks extended declines on Tuesday after panic selling gripped global markets, as the US-Iran war kept investors on edge and surging oil prices fuelled inflation concerns. The Hang Seng Index closed 1.1 per cent lower at 25,768.08 after losing 2.1 per cent on Monday. The Hang Seng Tech Index fell 2.3 per cent. On the mainland, the CSI 300 Index slid 1.5 per cent and the Shanghai Composite Index fell 1.4 per cent. Tensions between the US, its allies and Iran have disrupted global oil... https://www.scmp.com/business/markets/article/3345204/hong-kong-stocks-slide-second-day-us-iran-war-rattles-sentiment?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345204/hong-kong-stocks-slide-second-day-us-iran-war-rattles-sentiment?utm_source=rss_feed Tue, 03 Mar 2026 02:14:04 +0000 Carol Yang Carol Yang Less than three weeks before the US port fee targeting China-built or China-operated vessels is scheduled to take effect, some major carriers have begun adjusting their vessel deployment to avoid or absorb the extra cost rather than resorting to imposing a surcharge on clients – at least initially. “On the transpacific, there are early signs of a reduction in the deployment of Chinese-built vessels,” shipping consultancy Sea Intelligence said in a report last week. After tracking vessel... https://www.scmp.com/economy/global-economy/article/3326952/us-port-fee-hits-china-vessels-carriers-are-already-dodging-blow-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3326952/us-port-fee-hits-china-vessels-carriers-are-already-dodging-blow-analysts?utm_source=rss_feed Fri, 26 Sep 2025 08:00:10 +0000 Carol Yang Carol Yang Chinese shipping companies are working with global partners to reduce their US exposure and explore more regional market opportunities, as the industry braces for the introduction of steep new US port fees in October. Washington plans to charge Chinese-linked vessels hefty fees to enter US ports as part of a drive to rein in China’s globally dominant shipyards, and the controversial new levies are already driving deep changes in the shipping industry. “The container shipping industry is... https://www.scmp.com/economy/china-economy/article/3324007/chinas-shipping-firms-lean-alliances-ride-out-us-port-fee-storm?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3324007/chinas-shipping-firms-lean-alliances-ride-out-us-port-fee-storm?utm_source=rss_feed Tue, 02 Sep 2025 05:00:08 +0000 Hang Seng Indexes Company added four stocks including China’s chip maker Semiconductor Manufacturing International Corporation (SMIC) and shipping firm Orient Overseas (International) to the benchmark Hang Seng Index in its latest quarterly review on Friday. Car retailer Zhongsheng Group Holdings and aluminium manufacturer China Hongqiao Group will also join the benchmark from June 13. Apple component supplier AAC Technologies Holdings will be removed. Friday’s review will bring the benchmark’s... https://www.scmp.com/business/markets/article/3178567/smic-orient-overseas-included-hang-seng-index-revamp-compiler?utm_source=rss_feed https://www.scmp.com/business/markets/article/3178567/smic-orient-overseas-included-hang-seng-index-revamp-compiler?utm_source=rss_feed Fri, 20 May 2022 12:13:00 +0000 Hong Kong-based shipping giant Orient Overseas International on Monday report an interim net profit of US$138.9 million for the first half of 2019, swinging from a loss of US$10.3 million this time last year. Overall revenue for the company rose 6 per cent to US$3.3 billion in the first half of this year from US$3.1 billion in the same period last year. The result allayed some concerns about the US-China trade war, which has been disrupting trans-Pacific trade and industry since US President... https://www.scmp.com/business/companies/article/3024386/hong-kong-shipping-giant-orient-overseas-weathers-us-china-trade?utm_source=rss_feed https://www.scmp.com/business/companies/article/3024386/hong-kong-shipping-giant-orient-overseas-weathers-us-china-trade?utm_source=rss_feed Mon, 26 Aug 2019 09:34:44 +0000 A Hong Kong-based company has been forced to sell its American container port after the US government raised security concerns about its parent being a Chinese state-owned shipping giant. Orient Overseas (International), which is majority-owned by Cosco Shipping Holdings, will sell off its entire interest in Long Beach Container Terminal in California for US$1.78 billion (HK$13.97 billion) in cash, according to a stock exchange filing on Tuesday morning. The sale to a US infrastructure fund is... https://www.scmp.com/business/companies/article/3008324/us-security-concerns-force-cosco-owned-orient-overseas-sell-long?utm_source=rss_feed https://www.scmp.com/business/companies/article/3008324/us-security-concerns-force-cosco-owned-orient-overseas-sell-long?utm_source=rss_feed Tue, 30 Apr 2019 11:38:35 +0000 Orient Overseas (International) said it had returned to profit in the first half of the year as the industry recovers on improved global economic growth, posting a net profit of US$53.6 million, compared with a US$56.7 million loss for the same period in 2016. The profit from operating activities reached US$25.3 million, compared with the loss of US$81.4 million for the corresponding period last year, the company said in its results announcement filing to the Hong Kong stock exchange on... https://www.scmp.com/business/companies/article/2105820/ooil-sails-back-profit-first-half-industry-recovery?utm_source=rss_feed https://www.scmp.com/business/companies/article/2105820/ooil-sails-back-profit-first-half-industry-recovery?utm_source=rss_feed Mon, 07 Aug 2017 11:04:06 +0000 Shares of China’s Cosco Shipping Holdings climbed on Monday after announcing a deal to buy rival Orient Overseas International Ltd (OOIL), a move that would see the state-owned shipping operator leapfrog from sixth to third place globally if approved. Hong Kong-listed Cosco shares gained 5.4 per cent to close at HK$4.3 on Monday while OOIL recorded its biggest daily gain in eight years, up 20 per cent to close at HK$72. The share gains came despite the requirement for regulatory approvals and... https://www.scmp.com/business/companies/article/2101951/orient-overseas-shares-jump-most-eight-years-after-cosco-takeover?utm_source=rss_feed https://www.scmp.com/business/companies/article/2101951/orient-overseas-shares-jump-most-eight-years-after-cosco-takeover?utm_source=rss_feed Mon, 10 Jul 2017 03:04:50 +0000 Hong Kong shares edged slightly higher on Monday on the back of Wanda Group’s announcement that it would sell most of its hotel and tourism assets and Cosco Shipping Holdings’ bid to buy Orient Overseas International (OOIL). The Hang Seng Index closed 0.63 per cent higher at 25,500.06 points. The gain in the benchmark index represented a partial recovery from last week’s decline, which was the worst in four months. Among the top gainers were Wanda Hotel Development and OOIL. Wanda Hotel... https://www.scmp.com/business/banking-finance/article/2101942/hong-kong-shares-set-follow-wall-street-higher-after-us?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2101942/hong-kong-shares-set-follow-wall-street-higher-after-us?utm_source=rss_feed Mon, 10 Jul 2017 01:06:02 +0000 Shipping giant Orient Overseas International has announced a slump in first-half profit, which it blamed on global weak economic growth and sluggish investment sentiment. OOIL, owned by the family of former chief executive Tung Chee-hwa, recorded a loss of US$56.66 million in six months ended June 2016, compared to a profit of US$238.63 million in the same period last year. The interim loss per share was 9.1 US cents, compared with interim earnings per share of 38.1 US cents for the first half... https://www.scmp.com/business/companies/article/2000785/shipping-giant-ooil-delivers-interim-us56m-loss-against-us239m?utm_source=rss_feed https://www.scmp.com/business/companies/article/2000785/shipping-giant-ooil-delivers-interim-us56m-loss-against-us239m?utm_source=rss_feed Mon, 08 Aug 2016 04:50:23 +0000 Orient Overseas (International) Limited yesterday reported its first-half net profit jumped nearly a third as cheaper fuel costs helped it tide over a slump in freight rates. Net profit of OOIL, the holding company of Orient Overseas Container Line, rose 32 per cent year on year to US$238.6 million even though revenue declined 6 per cent to US$3 billion as overcapacity and weak demand continued to plague the container shipping industry. “The volatility of freight rates indicates how competitive... https://www.scmp.com/business/companies/article/1848128/orient-overseas-said-h1-net-profit-32-cent-us2386-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/1848128/orient-overseas-said-h1-net-profit-32-cent-us2386-million?utm_source=rss_feed Mon, 10 Aug 2015 01:00:45 +0000 Orient Overseas (International) Limited said net profit soared more than five-fold to US$270.5million (HK$2billion) in 2014 from a year earlier as operating costs fell and gains from its property business rose. Operating costs were cut by 10 per cent in 2014 as oil prices fell and fuel efficiency increased, while Wall Street Plaza, an office building it owns in New York, contributed US$119.4 million to operating income, almost double the year-ago level. A US$9.7 million net fair value gain on... https://www.scmp.com/business/companies/article/1733233/shipping-giant-ooil-says-2014-profits-soared-sees-further-gains?utm_source=rss_feed https://www.scmp.com/business/companies/article/1733233/shipping-giant-ooil-says-2014-profits-soared-sees-further-gains?utm_source=rss_feed Mon, 09 Mar 2015 01:30:15 +0000 Orient Overseas (International) Ltd (OOIL) returned to the black in the first half of the year on the back of a pickup in the container shipping industry and stringent cost controls. The holding company of Orient Overseas Container Line, one of the world's largest container shipping lines, said profit attributable to shareholders in the first months to June was US$181.3 million, against a loss of US$15.3 million in the same period last year. Sales rose 7 per cent to US$3.2 billion. Revenue at... https://www.scmp.com/business/companies/article/1571616/ooil-turns-around-us181m-profit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1571616/ooil-turns-around-us181m-profit?utm_source=rss_feed Mon, 11 Aug 2014 17:00:00 +0000 Earnings at Hong Kong-listed Orient Overseas (International) Ltd (OOIL) turned around sharply in the first half of the year. The container transport and logistics giant declared a profit attributable to shareholders of US$181.3 million in the first six months, compared with a US$15.3 million loss in the same period last year. Sales rose 7 per cent to US$3.2 billion. Revenue at subsidiary Orient Overseas Container Ltd (OOCL) rose 4 per cent over the same period last year on a 10 per cent increase... https://www.scmp.com/business/companies/article/1571139/ooil-turns-around-us181m-profit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1571139/ooil-turns-around-us181m-profit?utm_source=rss_feed Mon, 11 Aug 2014 01:30:24 +0000 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. Freight rates in most trade routes operated by OOIL have been down as the company increased container capacity at the expense of freight rates in the second half, especially in the intra-Asia sector. Global capacity grew 5.7 per cent last year while demand only rose 4.2 per cent. The liner company moved... https://www.scmp.com/business/companies/article/1445159/ooils-net-profit-tumbles-84pc-shipping-overcapacity?utm_source=rss_feed https://www.scmp.com/business/companies/article/1445159/ooils-net-profit-tumbles-84pc-shipping-overcapacity?utm_source=rss_feed Mon, 10 Mar 2014 04:30:15 +0000 Orient Overseas International Limited (OOIL), one of the world's largest integrated container shipping companies, may dip into the red when it announces full-year results on Monday, due to oversupply in the sector and a slump in freight rates. Although analysts polled by Bloomberg forecast profit of US$35.1 million, the deterioration in rates in the fourth quarter may dim hopes that OOIL can stay afloat for the year after it reported US$15.3 million in losses for the first half. OOIL's... https://www.scmp.com/business/companies/article/1443104/ooil-earnings-tipped-lower-oversupply-freight-rates-fall?utm_source=rss_feed https://www.scmp.com/business/companies/article/1443104/ooil-earnings-tipped-lower-oversupply-freight-rates-fall?utm_source=rss_feed Fri, 07 Mar 2014 17:45:00 +0000 Slowing demand, oversupply of ships and low freight rates drove Orient Overseas (International) Ltd to an attributable loss of US$15.26 million during the first half of the year. Ship supply will still outstrip demand next year despite a rebound in freight rates, the world's largest shipping firm said. Chairman Tung Chee-chen said in a filing with the Hong Kong stock exchange yesterday that he expected margins to remain thin and volatile in the next two years, as the industry still faces growth... https://www.scmp.com/business/companies/article/1295381/orient-overseas-slumps-first-half-loss?utm_source=rss_feed https://www.scmp.com/business/companies/article/1295381/orient-overseas-slumps-first-half-loss?utm_source=rss_feed Thu, 08 Aug 2013 16:00:00 +0000 Hong Kong's maritime sector is seeing one of its periodic people reshuffles with the move of two industry ship finance veterans to Singapore and three leading shipping lawyers to new firms. The most high-profile departure is Ken Cambie, who is joining Quantum Pacific Shipping Services, a maritime venture in Singapore planned by Israel's richest man, Idan Ofer. Cambie steps down as chief financial officer of Orient Overseas (International), the Tung family-controlled shipping, logistics and... https://www.scmp.com/business/money/markets-investing/article/1236406/finance-chief-ooil-jumps-ship?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1236406/finance-chief-ooil-jumps-ship?utm_source=rss_feed Sun, 12 May 2013 16:00:00 +0000 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. This was 7 per cent higher than last year and followed a 10.9 per cent rise to US$1.59 billion in container shipping revenue in the third quarter. Geoffrey Cheng, head of transport research at Bocom International, said... https://www.scmp.com/business/companies/article/1067508/ooil-heads-us64b-turnover?utm_source=rss_feed https://www.scmp.com/business/companies/article/1067508/ooil-heads-us64b-turnover?utm_source=rss_feed Mon, 22 Oct 2012 16:00:00 +0000