News / Strong first quarter for OOCL, but the pandemic impact is still to be seen

Cosco Shipping subsidiary OOIL’s container arm, OOCL, saw just a 0.4% year-on-year decline in liftings in the first quarter, but revenue was up 5.5%.

However, the Hong Kong-based carrier’s seemingly strong operational performance – a possible bellwether for forthcoming liner financial results – does not include a great deal of the negative impact from the Covid-19 pandemic.

The number of containers carried across OOCL liner trades in the quarter was 1,598,422 teu, versus 1,605,564 teu the year before, with revenue at $1.54bn ...