News / OOCL profits double as first-half performance outstrips Covid-hit 2020

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Hong Kong-headquartered OOCL this morning reported second-quarter revenue up 119% on the Covid-afflicted Q2 20, to reach $3.47bn.

The release of OOCL’s Q2 operational update was, as if any more proof was needed, further evidence of the extraordinary turnaround in the liner industry’s fortunes, with first half revenue for the Cosco-subsidiary at $6.49bn, more than double the $3.12bn it earned in the first six months of 2020.

The year-on-year revenue increases were most dramatic on its Asia-Europe services, which trebled, from $335m ...