News / OOCL needed cash and the 'weight' of Cosco to challenge the mega-competition

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OOCL was too small to compete with mega-carriers and needed access to a large capital base to succeed, its chairman said today.

OOCL returned to the black in the first six months of the year, contributing a net profit of $25.3m to the H1 result of its parent, Orient Overseas International Ltd, (OOIL).

This compares with a loss of $82.4m recorded in the same period of 2016.

The result was achieved on revenue up 15.2% to $2.6bn and earned from 6.8% growth in ...