News / Synergies and growing logistics venture help OOCL make a $65m turnaround

Cosco-controlled OOCL has joined the ranks of shipping lines looking to vertically integrate logistics operations into their core container transport activities.

The Hong Kong-headquartered shipping line – of which last year Chinese carrier Cosco bought a 75% stake, but has since been largely run as an independent entity – posted 2018 annual results this week, reporting a 2017 net loss of $10m transformed into a $55m net profit.

Its carryings last year were 6.3% up on 2017 and reached 6.7m, with growth on ...