Container trade economics – what to look for now
Making sense of a fools’ game
By Mike Wackett
Cosco Shipping subsidiary Orient Overseas (International) Ltd (OOIL) reported a net profit of $195m for 2019, after excluding the one-off $1.15bn profit from the sale of its Long Beach Container Terminal.
This compares with a net profit of $108m earned the year before, and maintains its reputation as one of the “best in class” ocean transport groups.
Group revenue increased by 4.7% year on year to $6.88bn.
However, OOIL said the outlook “has become more pessimistic”, as the coronavirus spreads around the world ...
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