Orient Overseas (International) Ltd., the parent company of the container shipping line OOCL, said it had an after-tax profit attributable to equity holders of $181.3 million
for the six-month period ended June 30, compared with a loss of $15.3 million for the same period in 2013. The group's revenue for the first half of the year was $3.2 billion, 7 percent more than that of the first half of 2013.
As reported last month, the second quarter revenue for the containership business was $1.5 billion, up 6.8 percent from the same 2013 period
C.C. Tung, chairman of OOIL, said that "there are underlying developments that support a degree of cautious optimism" about the outlook for the shipping industry.
“The industry saw a disappointing first half and a more encouraging second half in 2013. Moving into 2014, there has been cargo volume increase and a generally more positive sentiment than last year. In total, it is expected that the container transportation industry posted improved results for the first half of 2014. Such improvement, however, is likely to be capped, given the large newbuilding orderbook and the anticipated next round of newbuildings that will likely materialize over the next twelve months”, commented Tung.
During the first six months of 2014, OOCL took delivery of two 13,208-TEU containerships; it expects to take delivery of another four 8,888-TEU ships next year.
Tung said, “OOCL continues its efforts in building out its logistics business. The principal focus will be ensuring that the business will achieve steady growth, and that the organization is equipped to provide quality multimodal logistics solutions and end-to-end services to our customers. In China, the business has leveraged upon our in-country experience and [has been] extended to provide domestic services to our customers."