Seven ocean carriers blocked empty container returns to New York-New Jersey marine terminals last week as import volumes swell due to West Coast freight diversions.
Orient Overseas Container Line (OOCL)
Orient Overseas Container Line (OOCL)
Hong Kong-based is a large integrated international container transportation, logistics and terminal company with offices in seventy countries.
In 2017, Cosco Shipping Holdings and Shanghai International Port Group made its cash offer to buy the Orient Overseas International Ltd. (OOIL), parent company of OOCL. At the time of its acquisition by COSCO, OOIL group’s affiliates included not only OOCL but CargoSmart, OOCL Logistics, Long Beach Container Terminal and Kaohsiung Container Terminal.
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25 Mar 2022
Orient Overseas Container Line saw 2021 operating profit increase more than seven times over 2020 as high ocean freight rates offset flat volume growth.
22 Mar 2022
The Federal Maritime Commission is adding the availability of export capacity to its ongoing scrutiny of how ocean carriers are operating in the US.
11 Mar 2022
OOCL’s Rail-Sea service to the US East Coast has been shifted away from a Russian transshipment port and instead is using a route through Poland amid the ongoing war in Ukraine.
28 Dec 2021
The port of New York–New Jersey is looking at how it can deal with five years of expected cargo growth that has hit the port through 2021, while other Northeast ports are expanding capacity to deal with larger ships.
07 Sep 2021
When ships sit outside ports and containers are not picked up and returned quickly, that loss of effective capacity causes record spot rates, high demurrage and detention costs, and lengthening transit times.
06 Aug 2021
OOCL has launched a first-of-its-kind, multi-modal service that will use the Asian land bridge and rail to transship to US East Coast ports.
27 Jul 2021
The reopening of the US and European economies after last year’s COVID-19 lockdowns spurred a resurgence in the trans-Atlantic container trade as business activity in two of the world’s largest economies showed better than expected growth in May, with increases concentrated at US ports that have undergone major expansions.
27 Apr 2020
Containers shipped from China after factories reopened in March have now arrived at European ports, but there is little volume that will follow, at least for the next three months.
24 Jan 2020
The US-China trade war pulled down OOCL’s performance in the trans-Pacific, but volume and revenue growth in other trades kept its overall operational result in positive territory.
18 Nov 2019
Most major carriers and some freight forwarders have announced their own bunker adjustment factor (BAF) formulas to offset higher fuel costs, but there is little commonality in pricing or even what they are called.
16 Sep 2019
Container carriers in the slowing US import and export trades are exercising increased discipline, maintaining capacity levels rather than introducing new vessels in an attempt to secure a larger share of the market.
13 Sep 2019
The larger container ships global carriers are starting to deploy in intra-Asia trades are putting pressure on specialist feeder lines already dealing with bad weather, port congestion, and shifting trade patterns.
26 Aug 2019
The parent company of Orient Overseas Container Line (OOCL) said it had turned a profit in the first half of 2019, and that the strategy of keeping the two carriers as separate entities was “bearing fruit.”
22 May 2019
The Ocean Alliance will skip two Asia-US West Coast sailings in June in an effort to maintain rates as the US-China trade war takes a toll on volume.
30 Apr 2019
Australian banking and investment group Macquarie Infrastructure Partners already has stakes in New Jersey's Maher Terminals at Port Elizabeth and Penn Terminals.
06 Nov 2018
The new consortium, powered by Oracle Cloud Blockchain Service, involves CMA CGM, Cosco Shipping (and subsidiary brand OOCL), Evergreen Marine, and Yang Ming, and the lines represent about one-third of total global container ship capacity.
06 Aug 2018
OOCL is sounding alarms about the impact of a trade war on international shipping volumes after a strong first half.
27 Jul 2018
Although trade tensions between the United States and the European Union and their impact have been muted so far in 2018, trade stakeholders know that could change dramatically and quickly.
11 Apr 2018
Confirming to Alphaliner that it is discussing US terminal assets with Committee on Foreign Investment in the United States officials, Cosco, a China government-backed carrier, said it is confident the deal will pass the US review and that the deal’s June 30 deadline will be met.
27 Mar 2018
Rising demand on the Asia-New Zealand-Australia trade could be further boosted by China's trade dispute with the United States.
26 Jan 2018
Hong Kong-listed OOCL, soon to be part of Cosco, reported a massive increase in container volume and revenue for 2017.
06 Dec 2017
The Cosco-OOIL deal took another giant step towards becoming the world's largest carrier in total liftings when it received approval for the takeover from the European Commission.
20 Oct 2017
The Cosco-OOCL takeover and the merger of Japan's three carriers into ONE show two very different approaches to M&A.
21 Aug 2017
The new investment brings its total venture capital funding to $13 million.
07 Aug 2017
OOCL in first half profit turnaround as volumes and higher rates push up revenue.
28 Jul 2017
The double-digit second-quarter volume and revenue growth will come as good news to OOCL’s prospective new owner, China Cosco Shipping Holdings.
17 Jul 2017
A 13,200 TEU vessel that is the largest ever to enter the Port of New York and the US East Coast passed under the newly-elevated Bayonne Bridge Monday afternoon.
10 Jul 2017
“There aren’t many other takeover candidates left on the shelf.”
10 Jul 2017
A combined Cosco-OOCL carrier will further reduce the options for shippers that have been cut drastically by a wave of consolidation in the past year.
09 Jul 2017
The deal maintains the Hong Kong carrier’s brand and marks a new chapter in the ongoing industry consolidation.
21 Jun 2017
Rumors surrounding a Cosco-OOCL tie-up refuse to go away.
23 May 2017
According to analysts, low freight demand, overcapacity, and the consequent tightening of profit margins has placed shipbuilding on a sort of hiatus, but it won't last.
28 Apr 2017
It has been a good first quarter for OOCL with solid increases in revenue and volumes on the east-west trades. Business appears to be looking up for Hong Kong's OOCL.
13 Mar 2017
“In the Ocean Alliance, customers look at the four players and are generally aware of their financial sustainability. We don’t have an emergency fund, largely because we don’t think we need to have one.”
13 Mar 2017
Average revenue per TEU carried by OOCL in 2016 was even worse than during the global financial crisis, leading to an annual loss of $273 million.
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