News / OOIL sees record profits but expects challenges until H2 'at the earliest'

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Orient Overseas (International) (OOIL) said the load factors on its OOCL container arm’s network “show clear signs of improvement” and freight rates “may have started to stabilise”.

Nevertheless, OOIL says it does not expect liner earnings to recover until the second half of the year and, in the interim, it suggests carriers may have to “recalibrate” their networks to mitigate the impact of reduced demand.

The Cosco Shipping subsidiary reported an 18% increase in revenue for 2022, compared with the previous year, ...