News / OOCL Q3 data provides a frightening pre-curser to carrier results season

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Ahead of most ocean carrier third-quarter results, data from OOCL indicates that the liner industry’s financial performance in the second half of the year may ultimately be worse than feared.

Moreover, with the potential for significant losses in the final quarter, and an estimated armada of 2.4m teu of newbuild tonnage hitting the water by Q2 24, panic signs are flashing red in the boardrooms of carrier offices.

Orient Overseas International Ltd (OOIL), a subsidiary of Cosco Shipping, has released the Q3 ...