News / OOCL results point to loss of market share

Photo: © Péter Gudella

Elevated freight rates over the course of last year nearly doubled Hong Kong-based Cosco subsidiary OOCL profits, according to the firm’s financial results released today.

The carrier saw revenues grow some 25%, to $10.7bn, for the year, compared with the $8.3bn it earned in 2023, while operating profit came in at $2.6bn in 2024, compared with the $1.4bn profit the year before.

However, its volumes and capacity were pretty static year on year: it carried a total of 7.59m teu, a 3% ...