News / OOCL feels the benefit of economy drive and makes good on financial promises

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Hong Kong-headquartered Orient Overseas International has made good on its pledge to reverse the declining profitability of its liner shipping subsidiary OOCL.

This morning it posted a net profit of $181m for the first half of 2014, which compares with a loss of $15m in the same period of 2013 – although today’s numbers include a $51m contribution from investment income and a revaluation of its Wall Street Plaza property.

OOIL attributed the improved performance to better cost control and “robust growth ...