News / OOCL profits are surfing the wave of soaring rates and demand

OOCL Qingdao

A very strong fourth-quarter 2020 operational update from OOCL is an indicator of the rich vein of profitability enjoyed by the liner industry since the middle of last year, despite the pandemic.

The liner barometer data released by the Hong Kong-based carrier’s parent, OOIL, reported Q4 revenue up a substantial 51.2% on the same quarter of the previous year, to $2.42bn.

Total liftings across OOCL’s four regions increased 23.7%, to 2,225,642 teu, with the transpacific up by 28.9%, to 639,034 teu, and ...