OOCL achieves a 'robust' H1, but recovery seems 'far from secure'

Alexey Novikov | Dreamstime.com

Cosco Shipping subsidiary OOIL has reported a net profit of $102m for the half-year, compared with a profit of $139m the year before.

Revenue, the majority attributable to its OOCL liner services, came in at $3.43bn, slightly above the $3.3bn for the first six months of 2019.

OOIL’s transport and logistics sector contributed an ebit of $158m to the group result.

OOCL’s liftings decreased by a relatively modest 2.6%, to 3.27m teu, as the carrier was impacted by reduced demand after Covid-19 consumer ...