News / OOCL bellwether numbers point to ocean carriers reporting huge Q3 profits

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Third-quarter operational data from OOCL is the first hard evidence of huge profits made by ocean carriers during the period, which could oblige those that are stock market-listed to again upgrade their full-year outlook.

The Cosco subsidiary’s revenue soared 125% on Q2 20, to $4.3bn, despite a 7.2% decrease in its liftings, to 1,810,142 teu.

However, perhaps more impressively, compared with the previous quarter, OOCL’s revenue jumped by 25%, for an average rate per teu of $2,383, up 34% on Q2.

Notwithstanding the ...