Orient Overseas Container Line News

Hong Kong based ocean carrier Orient Overseas Container Line Ltd. (OOCL) announced it has taken delivery of its eighth 24,188 TEU containership, OOCL Abu Dhabi.The vessel is the fourth in a series of six 24,188 TEU newbuilds to be delivered to OOCL by the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) shipyard in China. The ultra large containership is 400 meters long and 61.3 meters wide.OOCL Abu Dhabi was officially named during a ceremony at the shipyard on February 25.

Orient Overseas Container Line Ltd. (OOCL) announced it has taken delivery of another new 24,000 TEU mega vessel.Named OOCL Valencia during a ceremony at China's Nantong COSCO KHI Ship Engineering Co., Ltd., the newbuild is the seventh eco-friendly 24,188 TEU vessel in a series of 12 ordered by OOCL. It will serve OOCL’s Asia-Europe LL1 service.YU Tao, Director and Member of Executive Committee of OOCL, said at the ceremony: “Last year, OOCL received a total of six new container vessels and thus rapidly optimized the fleet structure of both OOCL and the group.

Orient Overseas Container Line (OOCL) has reported that there is a suspicious investment software in the market that is using the OOCL logo without authorization.The software claims to offer high returns on investments. However, OOCL has no connection or affiliation with the software or its developers.In a statement warning its clients, OOCL says: “We do not endorse or recommend it in any way.“OOCL does not offer any investment product or service via any channel and we urge you…

Hong Kong-based Orient Overseas Container Line Ltd. (OOCL) announced it has taken delivery of another 24,188 TEU mega ship.The OOCL Turkiye, recently named during a ceremony at Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) shipyard, is the third 24,188TEU vessel to be received by OOCL in a series of12.Being a part of OOCL’s strategic plan for further growth in Asia -Europe trade, OOCL Turkiye will join her sister vessels OOCL Spain and OOCL Piraeus in serving OOCL’s Asia-Europe LL3 service loop.

Hong Kong-headquartered shipping company Orient Overseas Container Line Ltd. (OOCL) welcomed to its fleet its first 24,188 TEU mega vessel, OOCL Spain, officially named at a ceremony held Thursday at Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) in Nantong, China.The ultra-large containership is the lead vessel in a series of six OOCL ordered from NACKS in 2020.The first of OOCL’s vessels to exceed the 24,000 TEU threshold, OOCL Spain is 399.99 meters long and 61.3 meters wide…

The Suez Canal blockage laid bare many of the challenges being faced by the global shipping industry today. With 12% of global trade passing through the canal each day, the total revenue lost from delayed, damaged or lost goods due to its blockage is estimated to be up to $10 billion. Many of the organizations that faced a logistical nightmare in the face of the Ever Given blockage struggled to respond to things as they happened and make informed predictions about future occurrences…

Chinese state-owned shipping company COSCO Shipping Lines, Hong Kong container shipping company Orient Overseas Container Line (OOCL), Japanese/Singapore container shipping company Ocean Network Express (ONE) and Taiwanese ocean shipping company Yang Ming Marine Transport Corporation are to launch a new weekly Transatlantic service, East Mediterranean - America Service (EMA).The first commencing voyage is scheduled to operate on April, 2020, subject to Federal Maritime Commission (FMC) filing.The EMA service, jointly operated by the four lines, will consist of six Panamax vessels. The port rotation for the weekly service is Mersin - Haifa - Alexandria - Istanbul - Piraeus - Genoa - Algeciras - New York - Norfolk - Savannah - Algeciras - Mersin.EMA…

Hong Kong-based carrier Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.The COSCO-owned company said that the total volumes for the third quarter of 2019 (ended 30th September 2019) were 4.1% up from the same period last year. Total revenues increased by 5.8% to US Dollars 1,646.2 million. Loadable capacity increased by 4.7%.The overall load factor was 0.4% lower than the same period in 2018. Overall average revenue per teu increased by 1.6% compared to the third quarter of last year.For the first nine months of 2019 (ended 30th September 2019), total volumes increased by 3.5% over the same period last year and total revenues recorded a 6.3% growth.

Hong Kong-based international transportation and logistics company Orient Overseas International (OOCL) reported an interim net profit of US$138.9 million for the first half of 2019, swinging from a loss of US$10.3 million this time last year.Overall revenue for the company rose 6 per cent to US$3.3 billion in the first half of this year from US$3.1 billion in the same period last year, said a stock exchange announcement from the the parent company of Orient Overseas Container Line.In this period, container shipping industry has been quicker in responding to ever changing demands in its response to the underlying condition of our ever-changing markets and more complicated global economic and trade situations.

OOCL Hong Kong, the third largest cargo container ship in the world, docked in the port of Hong Kong for the first time on Thursday.The Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) said in a press note that the vessel was warmly welcomed at Kwai Tsing Container Terminal V by many friends, colleagues, and the community who went to marvel at one of the world’s largest containerships with a carrying capacity of 21,413 TEU.The vessel’s debut to the city of Hong Kong, an entrepôt well known for its long and vibrant history in international trade and commerce, has a very special meaning for OOCL.

Marshall Islands-incorporated Global Ship Lease (GSL) has agreed a new charter for the 2003-built, 2,207 TEU GSL Keta.The containership charter owner said in a press release that commencing in late July, the vessel will be chartered for minimum 50 days / maximum 90 days to Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) at a fixed rate of $8,700 per day.Ian Webber, Chief Executive Officer of Global Ship Lease, said, “We are pleased to have signed this charter at an improved rate with a top-tier counterparty in OOCL. With strong fundamentals driving continuing improvements across the ship sizes that make up our fleet of high-quality…

“If consolidation was the solution to all that ails shipping, then container liner companies would be super profitable. They are not. In ‘commoditized’ sectors of the shipping industry, which by now includes pretty much everything apart from very small niche markets, there is hardly any economies of scale at the company level. As long as bigger is not in fact much better, then meaningful consolidation will not happen.”Dr. Roar Adland, visiting scholar at MIT Center for Transportation and Logistics and Professor at the Norwegian School of Economics (NHH).Like any other business…

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) has chosen the Navis stowage planning software StowMan for effectively stowing vessels in its container ship fleet.According to Navis, and the provider of on premise and cloud collaborative stowage planning solutions, OOCL currently operates a fleet of 100+ container vessels ranging between 21,400 and 2,900 TEU that are planned by stowage planners who are based in strategic planning regions.With the advanced multifunctional stowage operation system of StowMan, vessel planners will be able to optimize the stowage planning results for fleet utilization based on improved visibility and efficiency…

Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion.OOIL, which is majority-owned by Cosco Shipping Holdings, was the terminal operator under a lease agreement with the port. It has entered into a Sale and Purchase Agreement to sell 100% of LBCT  to the consortium led by Macquarie Infrastructure Partners (MIP). LBCT LLC operates the container terminal in the Port of Long Beach, California, United States.The sale is undertaken pursuant to the National Security Agreement entered into by OOIL, Faulkner Global Holdings Limited, a subsidiary of COSCO SHIPPING Holdings Co., Ltd, and the U.S. Department of Homeland Security and the U.S.

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), total volumes were 6.4% up from the same period last year.Total revenues increased by 13.5% to US Dollars 1,566.5 million. Loadable capacity increased by 6.1%. The overall load factor was 0.2% higher than the same period in 2017.

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 solutions provider CargoSmart.The new platform will establish a digital baseline that aims to connect all stakeholders, including carriers, terminal operators…

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, meeting slow steaming requirements during sensitive seasons to avoid whale strikes at the local level, or investing in more efficient ships with the latest environment friendly features to meet emissions reduction targets…

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, the SEAA Assessment Committee (AC) assigned both the SEC and Deloitte, an international auditing firm…

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 has successfully been expanded to include indirect emissions from not only business travel by air for employees of our Hong Kong office, but also for our two terminals…

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. The m/v Pamina is currently chartered, as previously announced, to Orient Overseas Container Line Ltd., Hong Kong, at a gross charter rate of US$9…

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.…

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 manufacturing and services sectors in Hong Kong and the Pan Pearl River Delta region following three rounds of assessments by a professional adjudication panel and independent assessors. Reflecting on OOCL’s achievement for this Gold Award, OOCL Group Treasurer Ms. Ms.

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, as previously announced, at a gross charter rate of US$10,750 per day, minus a 3.75% commission paid to third parties. The “Pucon” is a 6,541 TEU container vessel built in 2006.