News / OOCL extraordinary Q2 result confirms 'turbocharging' of carrier bottom lines

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Cosco subsidiary Orient Overseas (International) Q2 figures from its container arm, OOCL, give an early indication of some spectacular earnings to come from the liner industry as the reporting season looms.

The Hong Kong-based carrier’s Q2 data comparison with the same period last year is skewed by the pandemic outbreak, hence it is more useful to contrast consecutive quarters.

In comparison with the first quarter, OOCL’s average rate jumped 17%, to $1,779 per teu, driving its revenue up 15%, to $3.47bn, despite ...