• 2021 August 20 10:13

    Orient Overseas (International) Limited announces 2021 Interim Results

    Orient Overseas (International) Limited (“OOIL") today announced a profit attributable to equity holders of US$2,810.9 million for the six-month period ended 30th June 2021, compared to a profit of US$102.1 million for the same period in 2020.

    Earnings per ordinary share for the first half of 2021 was US442.4 cents, whereas earnings per ordinary share for the first half of 2020 was US16.3 cents, according to the company's release.

    The Board of Directors announced an interim dividend of US$1.76 per ordinary share and a special dividend of US$2.65 per ordinary share.

    After the lockdowns that immediately followed the onset of the COVID-19 pandemic in early 2020, we started to see signs of reopening and economic recovery as from the middle of last year, led at first by China and other Asian economies and then joined by other nations. This trend has continued very strongly throughout this reporting period. Demand in key importing economies has been considerably stronger than forecast, especially on Trans-Pacific routes.

    The first half of 2021 produced the best six-monthly result in the Group's history. Compared to the same period in 2020, OOCL's total liner liftings for the first half of 2021 increased by 19%, total revenue increased by 108%, and revenue per TEU increased by 74%.

    The average price of bunker recorded by OOCL in the first half of 2021 was US$449 per ton compared with US$424 per ton for the corresponding period in 2020. The price increase, in combination with increased consumption in fuel oil and diesel oil led to an increase in total bunker costs of 26% for the first half of 2021 when compared to the corresponding period in 2020.

    In the first half of 2021, no new-build container vessel was delivered, and no new order was placed by the Group. The twelve 23,000 TEU container vessels ordered by the Group in 2020 are expected to be delivered starting 2023.

    As at 30th June 2021, the Group had total liquid assets of US$5,173.5 million compared with debt obligations of US$681.6 million repayable within one year. The Group remained at net cash position with a net cash to equity ratio of 0.28 : 1 as at 30th June 2021.

    The Group from time to time prepares and updates cashflow forecasts for project development requirements, as well as working capital needs, from time to time with the objective of maintaining a proper balance between a conservative liquidity level and an effective investment of surplus funds.

    OOIL owns one of the world's largest international integrated container transport businesses which trades under the name “OOCL".

    With more than 420 offices in over 90 countries/regions, the Group is one of Hong Kong's most international businesses. OOIL is listed on The Stock Exchange of Hong Kong Limited.


2024 March 2

11:18 Canadian Coast Guard issues fine for a hazardous vessel
09:37 IAA PortNews’ top headlines, Week 09

2024 March 1

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17:14 Sanmar starts construction of the world’s first methanol-fuelled escort tugs
16:41 The Green Award welcomes 8 New Japanese ports
16:05 HAV Group signs contract for design of Lavik-Oppedal ferries
15:52 KOTUG acquires joint venture interest in Kotug Seabulk Maritime
15:14 Equinor's Empire Wind 1 and Orsted's Sunrise Wind secure contracts in New York’s offshore wind projects
14:23 Fujairah bunker sales rise to five-month high in January 2024
13:51 Russia exported more than 700,000 metric tons of oil products from the Black Sea port of Novorossiisk in 2023 using small river barges
13:24 APM Terminals announces maiden call of Nordics only direct service to South America
12:56 Hapag-Lloyd increases rates from North Europe to India, Pakistan, Red Sea and Arabian Gulf
12:21 Ankara’s Port Başkent OIZ Eti Logistics Ankara Intermodal Terminal starts operations
11:42 European Commission makes €1bn available for recharging and refuelling points
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10:41 Karish North and second gas export riser online and new GSPA signed
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2024 February 29

18:02 Gentari partners with SEDC Energy for Sarawak H2 hub
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17:12 BV research confirms central role of operational and energy efficiency in meeting shipping’s 2050 carbon budget
16:42 President Vladimir Putin encourages foreign companies to actively use the opportunities of the NSR
16:14 MABUX: Bunker Weekly Outlook, Week 09, 2024
15:56 President Putin calls for upgrading the country’s inland waterways core infrastructure
15:24 The Bollore Group and the CMA CGM Group announce the successful sale of Bollore Logistics to CMA CGM
14:41 CMA CGM resumes operations in the Red Sea
14:09 TotalEnergies to supply Sembcorp with 0.8 Mtpa of LNG for 16 years
13:44 MOL and Idemitsu Kosan to launch demonstration test of recycling used plastics generated aboard VLCC
13:22 Six Arctic expeditions on the 50 Let Pobedy nuclear icebreaker planned for 2024
13:15 NYK Group acquires UK-based delivery platform business for e-commerce operators
13:07 President Vladimir Putin: Russia intends to build effective logistics corridors with friendly countries
12:51 TECO 2030 and Umoe Mandal receives preliminary approval for high-speed vessel design
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11:30 Port Houston container volumes up 4% to 332,961 TEUs in Jan 2024
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10:42 Authorities give Conoco Phillips permission to launch Eldfisk nord in the North Sea
10:24 LNG dual-fuel BYD Explorer No.1 visits Bremerhaven for the first time
09:47 DeepOcean to inspect pipelines for Equinor

2024 February 28

18:07 Fratelli Cosulich takes delivery of second LNG bunkering vessel
17:44 Idemitsu, Mitsubishi and Proman join forces to develop a clean ammonia project in the United States
17:13 CULines and IAL to launch a new South China – Vietnam – Thailand service SCT2 in March
16:47 Saudi container line Folk Maritime launched
16:25 China's shipbuilding industry grows in 2023 under US sanctions
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15:32 Jumbo Shipping, SAL Heavy Lift and Intermarine join forces in new commercial joint venture
14:58 Port of Hamburg handled a total of 114.3 million tonnes of goods in 2023
14:23 SITC launches new "Weifang-Japan" service with successful maiden voyage
13:48 Pier 400 in the port of Los Angeles upgrades its terminal operations fleet
13:13 Congo becomes an LNG exporting country
11:59 DEME reports 2023 results
11:13 KOTUG Canada holds steel cutting ceremony for two high bollard pull methanol fueled escort tugs for Trans Mountain Expansion Project
10:46 MOL's ammonia bunkering vessel receives AiP from Bureau Veritas

2024 February 27

18:07 Serco named preferred supplier for Vard Marine's naval modernization project
17:45 Ascenz Marorka’s mother company acquires Danish VPS
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16:47 FSRU reaches NFE’s Barcarena LNG terminal in Brazil
16:24 Wartsila introduces Ammonia Fuel Supply System to ease shipping’s transition to ammonia fuel
15:54 Piraeus Port Authority and Guangzhou Port Group sign MoU
15:14 DNO Norge orders Noble jack-up rig for drilling work in Norway
14:40 Stena Evolution and Shell team up for innovative deepwater drilling project in the Gulf of Mexico
14:23 OOCL adds the eight eco-friendly 24,188 TEU ship
13:40 Port of Tanjung Pelepas completes first LNG bunkering operation
13:02 HD Korea Shipbuilding wins $267.8 mln order for 2 car carriers
12:45 Wallenius Wilhelmsen declares options for four additional Shaper Class vessels
12:09 Consortium of MOL, ITOCHU Corporation, HIF Asia Pacific and JFE Steel Corporation to pioneer synthetic fuel supply chain and CO2 marine transport initiative
11:42 CMA CGM, COSCO SHIPPING, Evergreen and OOCL to extend OCEAN Alliance until 2032
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