Cancelled voyages take the sting out of spot rate declines this week
Container freight spot rates maintained their downward trajectory this week, as tariff uncertainty continued to ...
By Mike Wackett
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 ...
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