Orient Overseas Container Line News

28 Jan 2019

Orient Overseas Container Line Reports 10% Revenue Growth

Pic: Orient Overseas Container Line

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line said that its revenue in 2018 increased by 9.9% to USD 5.96 billion for all services, compared to USD 5.42 billion reported in the previous year."Loadable capacity increased by 7.4%. The overall load factor was 0.8% lower than the same period in 2017. Overall average revenue per teu increased by 3.4% compared to the same period last year," it said in a press release.For the fourth quarter of 2018 (ended 31st December 2018)…

06 Nov 2018

Global Shipping Business Network on Blockchain Platform Launched

Shipping industry executives initiate blockchain consortium at a signing ceremony. Photo: CargoSmart Ltd.

Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World, Hutchison Ports, PSA International and Shanghai International Port, as well as software…

12 Oct 2018

OOCL Begins Transition to Meet IMO 2020 Regulation

Pic: Orient Overseas Container Line

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) fleet moves forward to meet IMO 2020 regulation.Over the years, the industry has seen an increasing amount of attention given to the environmental impact from the global supply chain, resulting in regulations on emissions control and environmental protection becoming more stringent and widespread across the world.May it be in the form of introducing or expanding Emissions Control Areas (ECA) on the regional level…

05 Sep 2018

OOCL Bags 2018 Singapore Environmental Achievement Award

From L to R: Ms. Isabella Loh, Chairman of the Singapore Environment Council, Masagos Zulkifli, Minister for the Environment and Water Resources of Singapore,  Stephen Ng, Director of Trades of OOCL, Richard Loo, General Manager of CITIC Telecom International (SEA) Pte Ltd. Photo: Orient Overseas Container Line

Orient Overseas Container Line (OOCL) has received the 2018 Singapore Environmental Achievement Award (Regional) at a ceremony held by the Singapore Environment Council’s (SEC) recently.The SEAA (Regional) Award category recognizes local or international companies and organizations with outstanding environmental performance in Asia, and this year, the regional scope has been expanded to welcome companies from Greater China, Japan, South Korea, and ASEAN countries to take part in the awards scheme.In the review and evaluation process…

04 Sep 2018

OOCL Expands GHG Reporting and Verification Scope

Stephen Ng, Director of Trades of OOCL received the verification certificates from  Piet Mast , Senior Vice President, Regional Marine and Offshore Manager, South Asia, Middle East and Africa of Lloyd‘s Register. Photo: Orient Overseas Container Line

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) said that it has been taking concrete, meaningful and progressive steps in our long-term commitment to protecting the environment and reducing emissions in the communities where it operates by meeting our Greenhouse Gas (GHG) verification targets spanning from Scopes 1 to 3.A press release from OOCL stated: "We are pleased to announce that our GHG Scope 3 reporting and verification…

09 Aug 2018

Diana Containerships TC Contract for m/v Pamina with HMM

Pamina. Photo: Diana Containerships Inc

Diana Containerships announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hyundai Merchant Marine Co., Ltd., Seoul, for one of its Panamax container vessels, the m/v Pamina.The global shipping company specializing in the ownership of containerships said that the  gross charter rate is US$11,950 per day, minus a 5% commission paid to third parties, for a period of minimum eight months to maximum 12 months.The charter will commence on August 24, 2018.

09 Aug 2018

Diana Containerships Announces Time Charter

Diana Containerships Inc. announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hyundai Merchant Marine Co., Ltd., Seoul, for one of its Panamax container vessels, the m/v Pamina. The Pamina is a 5,042 TEU container vessel built in 2005.The gross charter rate is $11,950 per day, minus a 5 percent commission paid to third parties, for a period of minimum eight months to maximum twelve months. The charter will commence on August 24, 2018.This employment is anticipated to generate approximately $2.87 million of gross revenue for the minimum scheduled period of the time charter.The m/v Pamina is currently chartered to Orient Overseas Container Line Ltd.…

05 Jun 2018

OOCL Wins Corporate Environmental Leadership Gold Award

Wong Kam-sing, Secretary for the Environment of the Hong Kong Special Administrative Region (third from the left) presenting the Gold Award to Ms. Carrie Lee, Group Treasurer of OOCL (first from the left) at the awards ceremony. Photo: OOCL

Orient Overseas Container Line is very honored to be the first carrier in the international transportation and logistics industry to receive the Gold Award at the 2017 BOCHK Corporate Environmental Leadership Awards ceremony held at the Kowloonbay International Trade & Exhibition Centre on 31 May, 2018. This distinguished awards program aims to acknowledge outstanding participating organizations for their efforts in promoting environmental and low-carbon best practices in the…

28 May 2018

Diana Containerships Continues TC for m/v Pucon With OOCL

Pucon. Photo: Diana Containerships Inc.

Diana Containerships announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Orient Overseas Container Line Ltd., Hong Kong, for one of its Post-Panamax container vessels, the m/v Pucon. The gross charter rate is US$18,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum eight months to maximum twelve months. The new charter period will commence on June 22, 2018. The m/v Pucon is currently chartered…

14 May 2018

OOCL Bags Outstanding Green Leadership Award

Mrs. Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region (right) handing out the Gold Award to Stephen Ng, Director of Trades of OOCL at the awards ceremony. Photo: OOCL

Orient Overseas Container Line (OOCL) has received the 2017 Hong Kong Awards for Environmental Excellence (HKAEE) Gold Award in the Transport and Logistics Sector category at a ceremony held at the Hong Kong Convention and Exhibition Centre on May 4, 2018.Recognized by the community as one of the most prestigious and reputable environmental award schemes in Hong Kong, the HKAEE encourages businesses and organizations to embrace green management and innovation with the opportunity…

02 May 2018

OOCL Reports Higher Revenues for 1Q

Photo: Orient Overseas Container Line Limited.

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) reported revenues for the first quarter of 2018 at $1.38 billion, up 16.3 percent from the first quarter of 2017. OOCL carried 1,579,578 TEUs in the same period 7.5 percent more than in the same 2017 period. A press briefing said that the loadable capacity increased by 16.0% and the overall load factor was 6.4% lower than the same period in 2017. Overall average revenue per teu increased by 8.3% compared to the first quarter of last year.

24 Apr 2018

OOCL Partners with Microsoft for AI Project

(File photo: OOCL)

Hong Kong-based shipping company Orient Overseas Container Line Limited (OOCL) has partnered with Microsoft’s research arm to improve network operations and achieve efficiencies within the shipping industry through applied Artificial Intelligence (AI) research.The partnership, between OOCL and Microsoft Research Asia (MSRA), will apply deep learning research to shipping network operations with a projected $10 million annual operational cost saving. The collaboration is also expected to nurture over 200 AI developers over the next 12 months.“With MSRA’s efforts and expertise…

23 Apr 2018

US Questions COSCO's Long Beach Terminal Takeover

(File photo: OOCL)

A U.S. national security review has raised concerns about a takeover by China's COSCO Shipping Holdings Co of a large container terminal in Long Beach, California, the Wall Street Journal reported on Friday.The terminal is part of COSCO's planned $6.3 billion deal to buy shipping firm Orient Overseas International Ltd (OOIL) , the Journal reported, citing people familiar with the matter.COSCO executives met with officials at the Committee on Foreign Investment in the United States (CFIUS) this week and proposed to divest or carve out the Long Beach terminal to ease U.S.

03 Apr 2018

COSCO's OOCL Acquisition to Complete by End-June - vice chairman

File Image (CREDIT: AdobeStock / (c) Marina Ignatova)

Deal waiting for green light from CFIUS, China regulators; COSCO says keeping close eye on US-China trade tensions. COSCO Shipping's planned acquisition of Orient Overseas Container Line (OOCL) is on track to be completed by the end of June, the company's vice chairman Huang Xiaowen said on Tuesday. COSCO is still answering questions from the Committee on Foreign Investment in the United States on the deal, and is also awaiting a number of domestic approvals, Huang told a press conference in Shanghai. He said the deal needed U.S. approval as OOCL had some assets in that country.

29 Dec 2017

OOCL Rolls-out Next Phase of OCEAN Alliance

Photo: Orient Overseas Container Line Limited

Following the success of the Day One products introduced earlier this year, Orient Overseas Container Line Limited (OOCL) announced the forthcoming launch of the second phase of the OCEAN Alliance products in April 2018, an improved suite of products providing industry-leading services to customers. The emphasis on quality services has long been the hallmark of the OOCL brand. Since the inauguration of our services in April 2017, OOCL has made steady progress to meet the requirements of our customers as they find that we are among the top performers in terms of schedule reliability.

06 Dec 2017

COSCO Places Large Lubricants Order with Shell

COSCO SHIPPING Taurus, one of COSCO SHIPPING’s 20,000 teu capacity containerships (Photo: Shell Marine)

Shell Marine said it has been awarded China Ocean Shipping (Group) Company’s (COSCO SHIPPING) largest marine lubricants order in 2017. This order will include the full range of marine lubricants and technical services for seven out of COSCO SHIPPING’S 10 new generation Ultra Large Container Carriers (ULCCs) with capacities of approximately 20,000 TEUs each, ordered in 2015 and due to be in service from 2018-2019. Shell Marine has supplied marine lubricants and services to over 140 COSCO SHIPPING vessels since 2004.

16 Nov 2017

OOCL Introduces China Pakistan Express 3

Map: Orient Overseas Container Line Limited

Following its announcement of the China Pakistan Express 2 (CPX2) last week, Orient Overseas Container Line Limited (OOCL) is all set to introduce the China Pakistan Express 3 (CPX3), another new Intra-Asia service to expand  its product portfolio by providing a more comprehensive service network connecting the markets of India and Pakistan. The CPX3 provides additional sailing frequency from Central China to Mundra and strategically expands its service coverage in Pakistan. "Together with the CPX2…

20 Oct 2017

Containership Receives a Special Welcome

To welcome the world’s largest containership OOCL Germany in Wilhelmshaven, EUROGATE employees use containers to write the ships TEU capacity "21413" near the vessel’s berthing area (Photo: EUROGATE)

The world’s largest containership received a special greeting when it arrived for the first time at Germany’s sole deepwater port. On October 16, EUROGATE welcomed the 21,413 TEU OOCL Germany at its container terminal in Wilhelmshaven, where employees had arranged containers on the stowage area to write out the ship’s record-setting TEU capacity. “Although we are in the meantime witnessing the world’s largest container vessels at Wilhelmshaven on a weekly basis, each occasion is still something very special,” said Mikkel Andersen, Managing Director of EUROGATE Container Terminal Wilhelmshaven.

21 Aug 2017

Diana Reactivates Idle Containership

Diana Containerships Inc. said plans to reactivate one of its idle Panamax container vessels, the m/v Pamina, a 5,042 TEU container vessel built in 2005. The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Orient Overseas Container Line Ltd., Hong Kong, for the m/v Pamina. The gross charter rate is $9,500 per day, minus a 3.75 percent commission paid to third parties, for a period of minimum seven months to maximum 12 months. The charter will commence on September 13, 2017.   This employment is anticipated to generate approximately $2 million of gross revenue for the minimum scheduled period of the time charter.

20 Jul 2017

Shell's Integrated Lubrication Solutions for World's Largest Box Ship

Photo courtesy of Shell

Orient Overseas Container Line (OOCL) has appointed Shell Marine to provide its integrated marine solutions, which include lubricants and services for OOCL Hong Kong. OOCL Hong Kong, currently plying routes between Asia and Europe, is the latest vessel to claim the title of ‘world’s largest containership’, with a capacity of 21,413 twenty-foot equivalent units (TEUs), measuring 400m in length and 59m in width. The ship is equipped with MAN Diesel & Turbo’s (MDT) G-type engines that represent the latest in two-stroke engine technology.

09 Jul 2017

COSCO to Buy OOCL for USD 6.3 bln

Photo: Orient Overseas Container Line Limited

Chinese Shipping Major Cosco Group has agreed in principle to buy its shipping rival and  Hong Kong’s No. 1 box mover, Orient Overseas Container Line (OOCL), in deal that could be valued around USD 6.3 billion. The takeover will catapult Cosco the world’s third-biggest container carrier after Denmark’s Maersk Line and Swiss-based Mediterranean Shipping Co. In a press release, the State-owned Cosco said that it will pay shareholders of OOCL,, HK$78.67 a share in cash, a 31 percent premium over the stock’s last closing price.

16 May 2017

APM Terminals Zeebrugge Regains Asian Service

Photo: APM Terminals

The weekly Ocean Alliance NEU4 service, operated by French-based CMA-CGM, will link the port of Zeebrugge with the Asian ports of Tianjin, Qingdao, Shanghai, Ningbo, and Yantian, China as well as Busan, Korea, beginning with the first call of the 13,380 TEU capacity APL Changi on May 16th. The NEU4 service is one of six Asia/North Europe services offered by the Ocean Alliance, which began operations on April 1st with CMA CGM, COSCO Container Lines, CMA CGM, Evergreen Line and Orient Overseas Container Line as members.

12 May 2017

OOCL Hong Kong Christened

Photo: Orient Overseas Container Line Limited

Orient Overseas Container Line (OOCL) announced the naming of its latest containership, the OOCL Hong Kong, at a christening ceremony held at the Samsung Heavy Industries (SHI) shipyard on Geoje Island on May 12. The OOCL Hong Kong was also celebrated as one of the largest containerships in the world by carrying capacity, and will be a welcome addition to strengthening the OOCL fleet this year. In his ceremonial remarks, C. C. Tung, Chairman of Orient Overseas (International) Limited addressed the importance of this occasion for the company.

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